Billionaire Frank McCourt Sold A FL Home For $99 Mil. Now His Co. May Build Homes In "Horse Country"

Photo byTaya DiannaonUnsplash

For months now, I've been reporting about billionaires who have moved to Florida to live or to conduct business. Examples are Stephen Ross, John Paulson, and Ken Griffin. And Billionaire Larry Ellison just purchased the Eue Palm Beach Resort. There's another billionaire who is looking to develop Florida real estate - Frank McCourt in Florida's "horse country" - Wellington, Florida.

About Frank McCourt and Florida: The Executive Chairman of McCourt Global, McCourt got his start as a property developer in Boston. He would eventually move his company (and family) to Los Angeles and would own the Los Angeles Dodgers, which he would sell in 2012.

McCourt has ties to Florida. In 2017 he purchased a home in a part of Florida called "Billionaire's Row" for $77.06 million. He would later sell the property to billionaire Ken Griffith for $99.1 million in 2019. At that time, it was the second most expensive real estate transaction on the island.

The Proposal For Equestrian Development In Wellington: McCourt Partners affiliate 120th Avenue S LLC acquired approximately 80 acres in Wellington, Florida in 2022. The property in question is home to a private polo club and polo fields.

The LLC has filed plans requesting to rezone part of the property to equestrian development from equestrian residential. Additionally, blueprints propose homes on lots of one-third of an acre when most homes in the area are on around 2 acres.

Riding trails, stables, and an event barn are also proposed. As of this writing, a hearing has not yet been scheduled.