11,000 square feet, nine bedrooms, 12 baths and 112 feet of water frontage are not enough for the billionaire bond king Bill Gross. As the Wall Street Journal reports, Gross has spent $23 million dollars to buy a home in Harbor Island in Newport, California. But he's tearing the home down to build his own mansion.
WATCH the WSJ's video:
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That is the most vulgar, tasteless house I've ever seen. You'd think with that kind of money, he'd buy something beautiful and artistic. But no--he buys the most ostentatiously vulgar, nouveau riche house he could find. Ugh.
Sick duck.
Darn it! He out bid me by only 23 million.
Needs a lot of room for that huge noggin'
http://brandnewnormal.blogspot.com/
Any Swiss account with unidentifiable name?
The most pressing issue is why we, the American people, were fooled into thinking Obama would create more jobs.
hat tip to http://www.iamned.com .....
can he have at least a year before you jump ship .........
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I do not see why this is a reportable event.
The whole island is only about 7 acres with about 50 properties squeezed onto it.
There is no elbow room. There is no beach.
Perhaps if he bought the whole island and tore down all 50 properties so that he could build one decent one, that might be newsworthy.
Still, without a beach, it is just a Pied-à-terre .
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The Rich Suck
Jealous!
Says you
so how is this character building his house any different from the hollywood rich
Aaron Spelling did the same thing. Except he tore down 2 houses to build his mansion. Just how big was Spelling's family?
So what? It's his money. He earned it. He can spend it/do with it what he pleases.
The jealousy of some of you here is sickening.
What jealousy? It's a simple report of facts. Are you projecting?
I remember watching him regularly on Wall Street Week 30 years ago when he was highly respected and a mere multimillionaire. He's still respected and went after companies a few times who weren't doing the right stuff. I agree, it's his money.
These homes are never 'lived in' they are just showplaces for our new corporate aristocrats to impress others like them and for entertaining. I just finished reading some history of the 'roaring twenties' and the Vanderbilt’s home in NC (Biltmore House ). Man the parallels of that time and now are staggering. The ridiculous income disparity and the 'little monarchs' that the wealth created with the few is so dejevu. Interesting too that with the depression many of them lost their wealth and their little 'party circuit' collapsed. These guys today seem to have dodged that fate with the 'bailout' from us the taxpayers.
I can't help but think the other shoe has yet to drop and these guys are going to suffer a similar fate.
There was a similar little bump in 1930 (I think) and people thought the worst was over, but it wasn't.
From aug. 1929 to dec. 1929 market lost 37% then from dec 1929 to march 1930 it rose 18% then the bottom fell out.
From aug. 1 to dec 1 2008 the market lost 34% since Jan. 1 to present has gained some 22%.
I wonder if the bottom is going to fall out again?
Bet Billy has health care.
I can see why this drives people a little batty as it's such a waste of resources. However, this will create jobs for a number of people. I'm sure many of them will think it's overboard but I doubt if they will complain about getting some work and pay.
OMG! Let them eat cake, eh!? You know, slavery created "jobs". That "trickle down" BS has been tried and found to eliminate the middle class. Only one thing trickles down, and it ain't prosperity.
WOW your about a fruitcakeandahalf. No one is being enslaved to work on his house or in tearing this one down. What is this man supposed to do with his money? Wait I know, he should just give it to you, you deserve it because you worked so hard for it right?
I worked construction to put myself through college and recieved my degree thanks to the pay I recieved from many wealthy people who were buying up houses and either restroring them or building new ones.
Get a life a job and a clue.
good for him !
it's not your money !!
it's his money !!!!!
he can do whatever he wants , this is america
if you feel sick from this your a socialist and you should be deported to north korea
In the Eisenhower era (of prosperity and a rising MIDDLE class) the tax rate for folks like Mr. Gross was 92 percent. It was considered their fair debt to the society that provided them with their prosperity.
just sayin...
Yeah, and that tax rate was a load of cr.ap.
Why was it crap? Are you threatened or worried that you are going to have to pay that kind of tax rate? Do you even know what your tax rate is? Do you make over $250K?
When my household income was over $250K I could afford to pay higher taxes. But I didn't complain that the govenment was unfairly taking my money because I sometimes mailed a letter, reported a bad person to the FBI, wanted a strong military to defend my country, wanted a decent air traffic controller, a good highway, didn't want to catch mad cow disease from meat in the grocery store, didn't want my children to have fatal reactions to the medicines they were prescribed, among other reasons.
If you are so afraid of losing what you have, you will never have enough. I had it, lost it, got it back, have more than enough and wont be fearful about it.
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First Posted: 08-17-09 01:44 PM | Updated: 08-17-09 01:54 PM