PALM BEACH — George Lindemann, one of the richest men in the world, just sold his Palm Beach mansion for $25.2 million, accepting nearly $7 million less than his original asking price.
Guess it’s obvious he didn’t make his billions in the real estate game!
Lots of things seem to be slipping for the 81-year-old Lindemann.
When he listed the house at 1565 North Ocean Way for sale in May 2015, he was the 144th richest guy in the world with $4.2 billion to his name, according to Forbes.
Now the poor guy, who made his money through cell phones, oil pipelines and cosmetics, is worth a paltry $3.1 billion and is only the 668th richest guy in the world.
Lindemann and his wife Frayda bought the 11,000-square-foot, 3.4-acre oceanfront property for $23.5 million in 2008.
It’s not like many of the other mansions out there, and that could be why it took so long to sell, and only fetched seven percent more than the Lindemann’s paid nine years ago.
Sure, it has a gated front entry, a service entrance, a heated pool, a guest house, blah, blah, blah.
But this 1937 house was redesigned by Peter Marino, interior decorator, to showcase the Lindemann’s collection of Southeast Asian art.
You’ve got to see it to believe it.