Bringing Down The House

Posted: January 7, 2012 in divorce, overspending, real estate

It must be nice to be rich. It’s even nicer to be rich off of someone else’s money. Elin Nordegren, Tiger Woods’ ex, walked away from their marriage with $100 million dollars. What better way to spend her money than to buy a $12.3 million dollar home in Palm Beach, FL. No big deal right? Well, after she bought the home, she then paid a demolition company to demolish it and take it down.

Yep. Elin didn’t pay $12.3 million because she wanted the home. She paid $12.3 million because she wanted the property. She will eventually build her own home there (which I’m guessing will be some where between $15-$20 million dollars to fit in with the neighbors). The Palm Beach Post newspaper reports the mansion that was destroyed was a two-story, 17,000-square-foot-home built in 1932. Maybe Elin thought that bringing down the house was the best thing to do for a home built in the 1930’s. Maybe she’s been watching HGTV and had some newer ideas.

So, what do you think? Is this blowing money? Because a person has $100 million (and is dating a Wall Street guy now), does that make it okay to pay $12.3 million to tear down a home because she likes the neighborhood? Couldn’t she have just found some where else to build her dream crib?

What’s your take on this? Big deal or not?

Before

After

SN: Thanks to Vinny C for bestowing the “Overlord Award” on me! Now all of you are under my command! Bwu-ha-ha-ha-haaaaa!

🙂

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Comments
  1. Well, hell, Q…at least she saved the palm trees!!! That qualifies as "green" right?! I mean, if you're going to have more money than brains, then the least you can do is your very best to watch your carbon footprint, right?Go Palm Trees!!!

  2. Excessive? Maybe. But I don't think she wants to keep a lot of the dirty money. She's probably being wasteful to spite Tiger.

  3. Thank, Q says:

    @ Reck – LOL! Now that is a half-full approach if I ever saw one!

  4. CT says:

    I heard about this…. such a waste…

  5. Thank, Q says:

    C'mon, CT. You mean to tell me that you wouldn't bulldoze a home on a piece of property you liked? 🙂

  6. Baur says:

    THat is completely absurd lol oh yea and following 🙂

  7. Thank, Q says:

    @ Baur – Thanks for the follow! Welcome to the world of a mad man!

  8. Mynx says:

    Interesting question. She has a lot of money so she can afford an expensive property.If it was an ordinary joe, spending average money to buy in a preferred location to demolish and rebuild would you be questioning it? Lots of regular people are doing that here, buying and rebuilding just to live in a certain area.Maybe the house needed extensive renovations to restore it? or we can just say, Rich people are crazy.

  9. Alice X says:

    I suppose it's sort of like when i watch Top Gear and see them destroy a top of the range car for no reason other than entertainment, such a waste. They should just give it me instead!

  10. Thank, Q says:

    @ Mynx – She does have plenty of money, so that's why I was posing the question. A lot of things rich people do baffle the average person, but if they have the money to do it, then is it really a big deal? If a person making $60k per year spends $300 on a bottle of wine, does a person making $30k get pissed? Hard to say.@ Alice – That's a great idea! In fact, I will donate my car to them to blow up and they can give me once of those nice cars!

  11. Tiffany says:

    It does seem like blowing money to me. $12 million is a pretty sizable chunk of $100 million. Or maybe I'm just jealous…

  12. Thank, Q says:

    @ Tiffany – Maybe both? 🙂 After she rebuilds, she will be out $25m at least. But, that's $75m left plus the fact she has a rich boyfriend on Wall Street now, so she's good.

  13. LogAllot.com says:

    Just another stupid way rich people waste money. The house was fine the way it was, but you can't please people with money. Once the money is all gone, then they are wishing they lived within their own means.

  14. Thank, Q says:

    @ LogAllot – I guess if you have the resources and good looks that she has, there's never a worry of running out of money.

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