Michael Bloomberg Adds $45 Million Colorado Ranch to Vast Property Portfolio
By JeffV
LOS ANGELES (Variety.com) – With his expensive White House campaign now kaput, billionaire businessman Michael Bloomberg is licking his wounds as only a billionaire mogul can: by splashing the cash on yet another pricey home. The deep-pocketed former New York City mayor has paid about $44.8 million for a sprawling Colorado ranch to be used as a winter retreat. The 4,600-acre estate was previously owned by Henry Kravis, co-founder of private equity juggernaut KKR, the Wall Street Journal reported.
The ranch is located in a semi-remote corner of northwest Colorado, though it’s only about an hour’s drive from celeb-soaked Aspen. According to property records, Bloomberg closed on the estate — which was originally listed in early 2019 for for $46 million — just six weeks after dropping out of the presidential race.
Kravis purchased the property in 1991 and oversaw construction of the 19,000 sq. ft. main house that contains five bedrooms, a wine cellar, movie theater and indoor hot tub. The property’s recreational amenities include a swimming pool, a four-hole golf course and a tennis court. There’s even a helipad and a helicopter hangar, plus two large guest cabins and a carriage house, Additional features include outbuildings for horses and separate housing for staff, naturally.The Rocky Mountain-esque décor contains plenty of logs and stone, along with wall-mounted antlers and garishly red-striped and patterned furnishings. Although it’s believed that all the complexly patterned furniture was part of the deal, i
t’s almost unfathomable that a wealthy city slicker like Bloomberg won’t have the place re-decorated in a manner that suits his own personal style.
It’s remains unclear exactly how much time Bloomberg will actually spend at his new spread, as he already owns a massive high-end property portfolio that stretches around the globe. In his home city, the outspoken politico owns a Beaux Arts-style limestone townhouse on the Upper East Side, which he scooped up in 1986 for $3.5 million. Since then he’s snapped up five of the six units in a neighboring townhouse, allowing him to expand the original townhouse horizontally. The current compound is undoubtedly one of the most lavish homes in the city, and only a block away from Central Park, with a value estimated to be well north of $50 million.
Outside of Manhattan, the Bloomberg residential holdings include a 50-some-acre estate in bucolic Westchester County and a home on Long Island — in the Hamptons, natch. Further flung, he keeps a condo in Vail, Colo., a horse farm in Wellington, Fla., a swank townhouse in London and custom-built mansion that overlooks Stokes Bay in Bermuda .
With more homes than some people have fingers, why the need for yet another splurge in Colorado? Like most billionaires with residential real estate portfolios the size of medium-sized cities, the answer is likely this: just because he can.
