Billionaire hedge-funder Ken Griffin has paid more than $1 billion on a cache of ultraluxury homes from London to New York. What’s behind the 'unprecedented' spending spree?
In the early 1900s, the country’s wealthiest businessmen including William Randolph Hearst and John D. Rockefeller built sprawling, gilded estates. Living at that kind of boundless scale fell out of favor with subsequent generations, however, and these kinds of estates were either subdivided or turned over to the state or to preservationists.
Now, hedge-fund multibillionaire Ken Griffin appears to be mounting a single-handed campaign to bring that level of extravagance back into vogue. Over the past five years or so, Mr. Griffin,...
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