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UPDATE

August 13.2025

2 Minutes Read

Billionaire Richard Schulze's $27 Million Miami Beach Home Purchase

Billionaire Best Buy founder linked to $27M purchase of Venetian Islands spec home

A High-Profile Real Estate Transaction in Miami

Richard Schulze, the billionaire founder of Best Buy, has made headlines once again with his recent purchase of a stunning spec home for $27 million on Miami Beach’s picturesque Venetian Islands. This luxurious abode was sold by French commercial real estate mogul Nicolas Chambon, who originally acquired the property for a mere $5.9 million back in 2018.

Details of the Luxurious Property

The newly constructed home, located at 220 West Dilido Drive, boasts an impressive 6,500 square feet of living space, featuring five bedrooms, five bathrooms, and a half-bathroom. Its highlights include a pool and a private dock, perfect for enjoying Miami's crystal-blue waters. This sale comes as Chambon initially listed the property for $33 million, representing a significant $6 million reduction in price.

Market Trends in Miami Beach

This transaction is part of a broader trend in the Miami Beach luxury real estate market, where notable sales have become increasingly common. Just recently, tech entrepreneurs Tom and Patricia Kennedy sold their waterfront mansion on the Venetian Islands for a staggering $46 million, setting a new record. Furthermore, other high-profile sales include homes traded for $19.2 million and $19.5 million, emphasizing the area's desirability among affluent buyers.

Schulze's Ties to Florida

Having previously owned a property in Bonita Springs that sold for nearly $5 million in 2020, Schulze's latest acquisition underscores his connection to Florida. Forbes estimates his net worth at approximately $4.3 billion, positioning him among America's wealthiest individuals. His investments signal a strong belief in the growing luxury market of Miami Beach.

Conclusion: A Prime Investment

This $27 million purchase marks a significant addition to Schulze's real estate portfolio, reflecting both his personal style and the booming luxury housing market in Florida. Given the current demand and rising property values, Schulze's investment suggests a promising future in Miami real estate for discerning buyers.

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Billionaire Richard Schulze's $27 Million Miami Beach Home Purchase

A High-Profile Real Estate Transaction in Miami

Details of the Luxurious Property

Market Trends in Miami Beach

Schulze's Ties to Florida

Conclusion: A Prime Investment

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