In pictures: Patriots owner Robert Kraft splashes record $23.75M on Palm Beach penthouse
New England Patriots team owner Robert Kraft has added another high-value real estate property to his portfolio. He recently purchased a penthouse in Palm Beach, Florida, for a record-setting $23.75 million.
The 5,000 square foot penthouse has four bedrooms and five and a half bathrooms. And of course, one-of-a-kind views of the Atlantic Ocean. The penthouse also has a library that spans over 1,000 square feet and features one of a kind artwork. The penthouse, which is one of the few of its kind located on the beach, is in the Leverett House-Palm Beach building in Palm Beach.
5,000 sq. ft.
New England Patriots owner Robert Kraft has purchased a Palm Beach penthouse condo for a record $23.75 million.
▪️ 5,000 sq. ft.
▪️ 4 BR, 5.5 baths
▪️ 1,300 sq. ft. library
▪️ Expansive ocean views
Kraft now has luxury homes in Boston, the Hamptons, and another in Palm Beach. https://t.co/qkZXEyI4NV
When the penthouse was first put on the market in September, it was listed for over $26 million, so Kraft technically got quite a deal on his purchase.But it is still the most expensive condo purchase in south Florida.
It was previously owned by Erving Wolf, who is a gas and oil executive, and his wife Joyce. He died in 2018, but Joyce continued to own the property until her death earlier this year. The couple purchased the penthouse in 2000 for $6 million.
Kraft now owns two high-end properties in Palm Beach, the Hamptons, and purchased a $43 million estate in Southhampton just last year. The NFL team owner has quite the portfolio.
What is Robert Kraft's net worth?
Robert Kraft purchased the New England Patriots in 1994 for $172 million, which, at the time, was the highest price a NFL team had ever been sold for. While it seems shocking now with all of the success that he and the Patriots have had, the team is on the verge of backruptcy. He has since turned the Patriots, not only into a dynasty in the National Football League, but the team now has a net worth of $3.8 billion.
Robert Kraft
Net worth: $10.8 Billion
Married in Nikes
Casual Culture
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The Patriots team owner, according to Forbes, is currently worth $10.8 billion. This makes him the 156th richest person in the entire world. According to Forbes, the majority of Kraft's wealth comes from his ownership of not only the New England Patriots but also the New England Revolution of Major League Soccer, an expansion team he founded in 1996.
Before being a professional sports team owner, he made his wealth from his family owned packaging company. In 1972, he founded his own paper commodities company. He still owns interest in both companies.