Hofheinz, the real estate editor of the Palm Beach Post offers a deep dive into what Palm Beach does best: luxury real estate and billionaires. “This is a place, after all, where billionaires are about as common as palm trees, facelifts and private-wealth advisers,” he writes.

A Town Where Billionaires Are the Norm

A recent analysis by the Palm Beach Daily News on the latest Forbes list has revealed that at least 68 billionaires own property in Palm Beach. “That’s more than you can shake a gold-plated stick at,” Hofheinz quips. This affluent barrier-island enclave has long been a magnet for the ultra-wealthy, and the numbers only reinforce its status as one of the world’s most exclusive addresses.

Leading that billionaire pack is the town’s most famous resident, former President Donald Trump, whose wealth, according to Forbes, more than doubled in the latest rankings. “Thanks in part to a little creative financing with social media and crypto,” Trump’s fortune saw a notable surge. His opulent Mar-a-Lago Club continues to anchor Palm Beach’s reputation for high-profile real estate.

Off-Market Deals Still Make Waves

Among the most talked-about sales in recent weeks is an off-market transaction that has quietly stirred the Palm Beach real estate world. The property is a stately French Provincial-style mansion at 530 S. Ocean Blvd., just a short walk from former President Donald Trump’s Mar-a-Lago estate. The home reportedly sold for a staggering $73 million—a figure that has turned heads even in a town accustomed to jaw-dropping price tags.

The sellers were digital media billionaire Ric Elias and his wife, Brenda, who owned the property through a limited liability company. While the transaction was entirely off-market, meaning it was never publicly listed, word of the sale quickly went through the island’s close-knit real estate circles. “The deal was so hush-hush, in fact, that we may never even see a deed recorded for it,” Hofheinz notes. The estate spans nearly 15,000 total square feet, offering its new, unnamed owner ample space to enjoy their corner of coastal luxury and lavish privacy.

Buffett’s Final Home Finds a Buyer

Not all billionaire homes in Palm Beach are sprawling oceanfront compounds. Some, like those once owned by the late Jimmy Buffett, reflect a quieter kind of luxury, at least by local standards. Buffett, who was added to the Forbes billionaire list in early 2023, owned three modest properties on the charming and historic Root Trail. Though unassuming in size, the homes still commanded impressive attention and price tags. Two have already changed hands, and the third, measuring just 2,660 square feet, recently went under contract after being listed at $4.775 million, proving location still reigns supreme.

Buffett’s passing in September 2023 came only months after Forbes recognized his billionaire status. While his homes lacked the grandeur of others in the area, they carried the charm and legacy of a cultural icon.

Waiting for the Return of Real Estate Snark

Although this week’s edition of The Dirt lacks Miller’s signature voice, as she is on vacation, Hofheinz assures that Palm Beach’s ever-churning luxury market and its billionaire inhabitants have never failed to offer engrossing headlines and curiosity to real estate enthusiasts.