Inside Bill and Melinda Gates’ Property Portfolio

Their US-based homes alone have a combined annual tax bill of up to about $6 million.

By Mark David 11/05/2021

After 27 years of marriage, amassing a planetary fortune and founding a namesake philanthropic enterprise with an endowment of nearly $63 billion, Bill and Melinda Gates announced this week that they’ve decided to split up in the most modern of ways, via Twitter. The split appears to be amicable, and the erstwhile couple says they will continue their roles as co-chairs and trustees of the Bill & Melinda Gates Foundation. They will, however, need to divvy up their Brobdingnagian pile of assets, a no doubt Byzantine enterprise that has people around the world wondering who will get what.

It’s often said that the Microsoft founder doesn’t like to spend his money frivolously. Frivolous, however, is in the eye of the beholder and often depends on the size of one’s bank account. And, for Gates, currently ranked by the bean counters at Forbes as the fourth richest person on earth with a net worth of around US$130 billion, not spending frivolously means maintaining a fleet of Porsches and other high-performance sports cars, travelling by private jet—reportedly a Bombardier BD-700 Global Express that costs upwards of US$40 million—and, though it’s worth but a tiny fraction of his overall wealth, presiding over a property portfolio easily valued in excess of a quarter-billion bucks.

It’s not clear exactly how many homes the Gates actually own, and some of their estates comprise numerous parcels and several houses. There are, though, at least eight houses and compounds spread across the United States that, according to tax records, have a combined annual tax bill that tallies up to about $4 million. That might be enough to give an ordinary millionaire a million sleepless nights, but for Gates, the yearly tax bills are nothing more than pecuniary child’s play, less, in fact, than he earns in a single day.

Based on how much wealth he added to his bottom line over the past year, according to Business Insider, he earned about $5900 per second. That means at a spending rate of $1.3 million per day it would take him about 400 years to spend his fortune. Business Insider went on to determine that he’s 66% richer than the entirety of the British monarchy, has more money than the richest person in Asia and the richest person in China, combined, and could give every person in the world $15 and still have $28 billion to spare.

Bill and Melinda Properties

The Gates’ primary property in Medina, Washington. Photo Courtesy: Wikimedia Commons

MEDINA, WASHINGTON.

The Gates’ primary residence has long been a custom-built mansion that overlooks Lake Washington in Medina, Washington. The Pacific Lodge-inspired contemporary extravaganza, designed in conjunction between Bohlin Cywinski Jackson and Cutler Anderson Architects, and often referred to in the press as Xanadu 2.0, after the estate of the lead character in “Citizen Kane,” measures in at about 66,000 square feet.

Some of the notable creature comforts include seven bedrooms, two dozen bathrooms, six kitchens, including one that services a 2,200-square-foot ballroom/meeting space, garaging for a couple dozen cars and a 20-seat Art Deco-style theater. There’s also a 60-foot swimming pool with an underwater sound system, 2,500 square feet of health and wellness facilities complete with gym, sauna and steam room, a trampoline room with 20-foot ceiling, and a 2,100-square-foot library with a bookcase that swings open to reveal a hidden bar. Outside, there’s a sport court, a salmon and trout-stocked stream, a boat dock and a private lakefront beach with sand imported by barge from the Caribbean island of St. Lucia.

And, of course, the tech gadgetry is next level. Occupants and guests each wear a pin with pre-set preferences for lighting, temperature and audio-visual systems. The pins communicate with sensors throughout the house, and as one moves from room to room not only with one’s music selection of choice follow but the lights and climate systems will alter themselves automatically to correlate with preset preferences.

And, because all that just isn’t enough, in addition to the main residence, which tax records show has a value of approx. $165 million and a yearly tax bill of more than $2.9 million, the Gates own at least a dozen surrounding properties that altogether span more than ten acres with at least six additional luxury homes.

Bill and Melinda Properties

The couple’s Indiana Wells home in California. Photo Courtesy: Google

INDIAN WELLS, CALIFORNIA

The Gates dropped approx. $16 million in 1999 for a deluxe desert mansion that sits alongside the manicured greens of the exclusive Vintage Club in Indian Wells, California, a private and exceedingly-posh golf and resort enclave about 30-odd kilometres southeast of Palm Springs.

Not many details about the property are publicly available, but tax records and other digital resources indicate the 1.33-acre estate includes a main residence of nearly 14,000 square feet built in 1993 with six bedrooms and 7.5 bathrooms plus a huge swimming pool shaped like a guitar and vast sweep of manicured lawn.

The Vintage Club’s other homeowners include a bevy of billionaires, Charles Koch, Bill Gross, Dennis Washington and Ingrid Flick among them.

Bill and Melinda Properties

One of the Gates’ Rancho Sante Fe properties. Photo Courtesy: Realtor.com

RANCHO SANTA FE, CALIFORNIA.

In 2014, after it had been on the market for a few years at declining prices that started at a wildly optimistic $38.2 million and dropped to about $31.9 million, the Gates swooped into ritzy Rancho Santa Fe, Calif, a Beverly Hills-style suburb about 30 kilometres north of San Diego, and scooped up diet guru Jenny Craig’s 228-acre horse farm in an off-market deal for a discounted price of $23 million.

Then known as Rancho Paseana, and now known as Evergate Stables, the thoroughbred training and competitive hunting-jumping facility has been upgraded over the last handful of years. However, at the time of its 2014 sale, the farm includes four 30-stall barns, plus a fifth that will hold another 21 horses, an office and veterinarian suite, a guesthouse, a couple of 30-acre pastures and a 1200-metre racetrack.

Bill and Melinda Properties

The couples Rancho Paseana property. Photo Courtesy: Google

RANCHO SANTA FE, CALIFORNIA.

At the time the Gates bought Rancho Paseana in 2014, they already owned — and still own — a four-plus-acre estate at the tony Del Mar Country Club. Perched on a low ridge at the end of a palm tree-lined drive with panoramic views over Rancho Paseana, which is now called Evergate Stables, the nearly 11,000-square-foot Mediterranean villa was acquired, per tax records, in 1999 for $6.5 million.

Bill and Melinda Gates Properties

The Gates’s oceanfront compound in Del Mar, California. Photo Courtesy: Realtor.com

DEL MAR, CALIFORNIA.

After two decades bunking periodically in Rancho Santa Fe, the Gates decided last year they’d like a place to hunker down at the ocean and, just as the Covid-19 lockdowns began to sweep across the nation, sealed the deal on the much-publicised  approx. $54.8 million purchase of an oceanfront compound along one of the most exclusive streets in the affluent seaside community of Del Mar, about six miles west of their holdings in Rancho Santa Fe.

Designed by renowned local architect Ken Ronchetti, the single-level home presides over about 120-feet of beach frontage and measures in at a comfortably large but well short of humongous 5,800 square feet with six bedrooms and 3.5 bathrooms, plus a pair of guesthouses. Marketing materials from the time of the sale indicate the unconventionally bifurcated estate —the main house sits on one side of the street and a secondary structure is on the other — offers a plethora of leisure and recreation options including a home theatre, a glass-tiled swimming pool, a 10-person hot tub, a health and fitness suite and, of course, a huge terrace with unparalleled views up and down the sugary sand.

Bill and Melinda Properties

A private Cody, Wyoming mansion owned by the duo. Photo Courtesy: Google

CODY, WYOMING

Back in 2009 it was widely reported Gates shelled out somewhere in the neighbourhood of $11.5 million for a sublimely beautiful ranch of almost 500 acres nestled into the foothills of Carter Mountain about 30km outside of Cody, Wyoming.

At the time of the transaction, marketing materials for the property indicated the fairly remote ranch is approached down an 11km drive with a 15,000-square-foot main residence known as Irma Lake Lodge. Additionally, there’s a five-bedroom guesthouse, a caretaker’s house, and a three-room cottage built by American Old West legend Buffalo Bill Cody who settled the land sometime around the turn of the 20th century. It was Cody, in fact, who gave the four small and pristine lakes that dot the ranch their names: Irma, Lilly, Arta and Natalie.

Bill and Melinda Properties

The massive Rocky Mountain getaway, Yellowstone Club. Photo Courtesy: Google

YELLOWSTONE CLUB, MONTANA,

The Gates family maintains a substantial Rocky Mountain getaway in the ultra-prestigious Yellowstone Club, a 13,600-acre members-only ski and golf resort community just west of Big Sky, Montana, where some of the other high net worth members are reported to include Justin Timberlake and Jessica Biel, TV producer Burt Sugarman and entertainment news journalist Mary Hart, Frank McCourt, former owner of the L.A Dodgers, Peter Chernin, former president of News Corp., and billionaire hotelier Barry Sternlicht.

It’s not clear how much the Gates paid for the multi-acre estate property that sits on a wooded ridge with magical wrap-around mountain views, but becoming a member of the club is not for mere financial mortals. Membership reportedly requires a roughly $450,000 initiation fee, the purchase of a home, which typically start at more than $7.5 million, and close to $51,000 in annual fees.

Though there’s a tradition of members not talking about each other, an unnamed member recalls in a 2009 New York Times article that one of the attractions to Yellowstone Club for the Gates is the high level of privacy and security that allows the family to take to the slopes without bodyguards.

Bill and Melinda Properties

The multiacre spread in Wellington, Florida owned by the Gates. Photo Courtesy: Realtor.com

WELLINGTON, FLORIDA.

The Gates have had a foot in the South Florida real estate trenches since at least 2009 when they paid approx. $7.2 million for a waterfront estate in low-key Hobe Sound. That property was sold in 2018 — at a million-dollar loss — but some years ago, no doubt because their daughter Jennifer is an award-winning equestrian, the Gates shifted their property focus to the affluent equestrian-oriented village of Wellington, about 28km west of Palm Beach at the swampy edge of The Everglades.

The Gates didn’t just buy a small training facility, however. Between 2013 and 2019, they ponied up close to $59 million for no fewer than five properties that comprise more than 25 contiguous acres within the exclusive and guard-gated Mallet Hill enclave. Their most recent acquisition in the horsey community came in 2019 when they splashed out approx. $26 million in an off-market deal for a 7.7-acre spread with a recently built mansion. 

This article was originally published on Dirt.

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Watch of the Week: TAG Heuer Formula 1 | Kith

The legendary sports watch returns, but with an unexpected twist.

By Josh Bozin 02/05/2024

Over the last few years, watch pundits have predicted the return of the eccentric TAG Heuer Formula 1, in some shape or form. It was all but confirmed when TAG Heuer’s heritage director, Nicholas Biebuyck, teased a slew of vintage models on his Instagram account in the aftermath of last year’s Watches & Wonders 2023 in Geneva. And when speaking with Frédéric Arnault at last year’s trade fair, the former CEO asked me directly if the brand were to relaunch its legacy Formula 1 collection, loved by collectors globally, how should they go about it?

My answer to the baited entreaty definitely didn’t mention a collaboration with Ronnie Fieg of Kith, one of the world’s biggest streetwear fashion labels. Still, here we are: the TAG Heuer Formula 1 is officially back and as colourful as ever.

As the watch industry enters its hype era—in recent years, we’ve seen MoonSwatches, Scuba Fifty Fathoms, and John Mayer G-Shocks—the new Formula 1 x Kith collaboration might be the coolest yet. 

TAG Heuer
TAG Heuer

Here’s the lowdown: overnight, TAG Heuer, together with Kith, took to socials to unveil a special, limited-edition collection of Formula 1 timepieces, inspired by the original collection from the 1980s. There are 10 new watches, all limited, with some designed on a stainless steel bracelet and some on an upgraded rubber strap; both options nod to the originals.

Seven are exclusive to Kith and its global stores (New York, Los Angeles, Miami, Hawaii, Tokyo, Toronto, and Paris, to be specific), and are made in an abundance of colours. Two are exclusive to TAG Heuer; and one is “shared” between TAG Heuer and Kith—this is a highlight of the collection, in our opinion. A faithful play on the original composite quartz watch from 1986, this model, limited to just 1,350 pieces globally, features the classic black bezel with red accents, a stainless steel bracelet, and that creamy eggshell dial, in all of its vintage-inspired glory. There’s no doubt that this particular model will present as pure nostalgia for those old enough to remember when the original TAG Heuer Formula 1 made its debut. 

TAG Heuer
TAG Heuer

Of course, throughout the collection, Fieg’s design cues are punctuated: the “TAG” is replaced with “Kith,” forming a contentious new brand name for this specific release, as well as Kith’s slogan, “Just Us.”

Collectors and purists alike will appreciate the dedication to the original Formula 1 collection: features like the 35mm Arnite cases—sourced from the original 80s-era supplier—the form hour hand, a triangle with a dot inside at 12 o’clock, indices that alternate every quarter between shields and dots, and a contrasting minuterie, are all welcomed design specs that make this collaboration so great. 

Every TAG Heuer Formula 1 | Kith timepiece will be presented in an eye-catching box that complements the fun and colour theme of Formula 1 but drives home the premium status of this collaboration. On that note, at $2,200 a piece, this isn’t exactly an approachable quartz watch but reflects the exclusive nature of Fieg’s Kith brand and the pieces he designs (largely limited-edition). 

TAG Heuer
TAG Heuer

So, what do we think? It’s important not to understate the significance of the arrival of the TAG Heuer Formula 1 in 1986, in what would prove integral in setting up the brand for success throughout the 90’s—it was the very first watch collection to have “TAG Heuer” branding, after all—but also in helping to establish a new generation of watch consumer. Like Fieg, many millennial enthusiasts will recall their sentimental ties with the Formula 1, often their first timepiece in their horological journey.  

This is as faithful of a reissue as we’ll get from TAG Heuer right now, and budding watch fans should be pleased with the result. To TAG Heuer’s credit, a great deal of research has gone into perfecting and replicating this iconic collection’s proportions, materials, and aesthetic for the modern-day consumer. Sure, it would have been nice to see a full lume dial, a distinguishing feature on some of the original pieces—why this wasn’t done is lost on me—and perhaps a more approachable price point, but there’s no doubt these will become an instant hit in the days to come. 

The TAG Heuer Formula 1 | Kith collection will be available on Friday, May 3rd, exclusively in-store at select TAG Heuer and Kith locations in Miami, and available starting Monday, May 6th, at select TAG Heuer boutiques, all Kith shops, and online at Kith.com. To see the full collection, visit tagheuer.com

 

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8 Fascinating Facts You Didn’t Know About Aston Martin

The British sports car company is most famous as the vehicle of choice for James Bond, but Aston Martin has an interesting history beyond 007.

By Bob Sorokanich 01/05/2024

Aston Martin will forever be associated with James Bond, ever since everyone’s favourite spy took delivery of his signature silver DB5 in the 1964 film Goldfinger. But there’s a lot more to the history of this famed British sports car brand beyond its association with the fictional British Secret Service agent.

Let’s dive into the long and colourful history of Aston Martin.

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What Venice’s New Tourist Tax Means for Your Next Trip

The Italian city will now charge visitors an entry fee during peak season. 

By Abby Montanez 01/05/2024

Visiting the Floating City just got a bit more expensive.

Venice is officially the first metropolis in the world to start implementing a day-trip fee in an effort to help the Italian hot spot combat overtourism during peak season, The Associated Press reported. The new program, which went into effect, requires travellers to cough up roughly €5 (about $AUD8.50) per person before they can explore the city’s canals and historic sites. Back in January, Venice also announced that starting in June, it would cap the size of tourist groups to 25 people and prohibit loudspeakers in the city centre and the islands of Murano, Burano, and Torcello.

“We need to find a new balance between the tourists and residents,’ Simone Venturini, the city’s top tourism official, told AP News. “We need to safeguard the spaces of the residents, of course, and we need to discourage the arrival of day-trippers on some particular days.”

During this trial phase, the fee only applies to the 29 days deemed the busiest—between April 25 and July 14—and tickets will remain valid from 8:30 am to 4 pm. Visitors under 14 years of age will be allowed in free of charge in addition to guests with hotel reservations. However, the latter must apply online beforehand to request an exemption. Day-trippers can also pre-pay for tickets online via the city’s official tourism site or snap them up in person at the Santa Lucia train station.

“With courage and great humility, we are introducing this system because we want to give a future to Venice and leave this heritage of humanity to future generations,” Venice Mayor Luigi Brugnaro said in a statement on X (formerly known as Twitter) regarding the city’s much-talked-about entry fee.

Despite the mayor’s backing, it’s apparent that residents weren’t totally pleased with the program. The regulation led to protests and riots outside of the train station, The Independent reported. “We are against this measure because it will do nothing to stop overtourism,” resident Cristina Romieri told the outlet. “Moreover, it is such a complex regulation with so many exceptions that it will also be difficult to enforce it.”

While Venice is the first city to carry out the new day-tripper fee, several other European locales have introduced or raised tourist taxes to fend off large crowds and boost the local economy. Most recently, Barcelona increased its city-wide tourist tax. Similarly, you’ll have to pay an extra “climate crisis resilience” tax if you plan on visiting Greece that will fund the country’s disaster recovery projects.

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Omega Reveals a New Speedmaster Ahead of the Paris 2024 Olympics

Your first look at the new Speedmaster Chronoscope, designed in the colour theme of the Paris Olympics.

By Josh Bozin 26/04/2024

The starters are on the blocks, and with less than 100 days to go until the Paris 2024 Olympics, luxury Swiss watchmaker Omega was bound to release something spectacular to mark its bragging rights as the official timekeeper for the Summer Games. Enter the new 43mm Speedmaster Chronoscope, available in new colourways—gold, black, and white—in line with the colour theme of the Olympic Games in Paris this July.

So, what do we get in this nicely-wrapped, Olympics-inspired package? Technically, there are four new podium-worthy iterations of the iconic Speedmaster.

Omega

The new versions present handsomely in stainless steel or 18K Moonshine Gold—the brand’s proprietary yellow gold known for its enduring shine. The steel version has an anodised aluminium bezel and a stainless steel bracelet or vintage-inspired perforated leather strap. The Moonshine Gold iteration boasts a ceramic bezel; it will most likely appease Speedy collectors, particularly those with an affinity for Omega’s long-standing role as stewards of the Olympic Games.

Notably, each watch bears an attractive white opaline dial; the background to three dark grey timing scales in a 1940s “snail” design. Of course, this Speedmaster Chronoscope is special in its own right. For the most part, the overall look of the Speedmaster has remained true to its 1957 origins. This Speedmaster, however, adopts Omega’s Chronoscope design from 2021, including the storied tachymeter scale, along with a telemeter, and pulsometer scale—essentially, three different measurements on the wrist.

While the technical nature of this timepiece won’t interest some, others will revel in its theatrics. Turn over each timepiece, and instead of a transparent crystal caseback, there is a stamped medallion featuring a mirror-polished Paris 2024 logo, along with “Paris 2024” and the Olympic Rings—a subtle nod to this year’s games.

Powering this Olympiad offering—and ensuring the greatest level of accuracy—is the Co-Axial Master Chronometer Calibre 9908 and 9909, certified by METAS.

Omega

A Speedmaster to commemorate the Olympic Games was as sure a bet as Mondo Deplantis winning gold in the men’s pole vault—especially after Omega revealed its Olympic-edition Seamaster Diver 300m “Paris 2024” last year—but they delivered a great addition to the legacy collection, without gimmickry.

However, the all-gold Speedmaster is 85K at the top end of the scale, which is a lot of money for a watch of this stature. By comparison, the immaculate Speedmaster Moonshine gold with a sun-brushed green PVD “step” dial is 15K cheaper, albeit without the Chronoscope complications.

The Omega Speedmaster Chronoscope in stainless steel with a leather strap is priced at $15,725; stainless steel with steel bracelet at $16,275; 18k Moonshine Gold on leather strap $54,325; and 18k Moonshine Gold with matching gold bracelet $85,350, available at Omega boutiques now.

Discover the collection here

 

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Here’s What Goes Into Making Jay-Z’s $1,800 Champagne

We put Armand de Brignac Blanc de Noirs Assemblage No. 4 under the microsope.

By Mike Desimone And Jeff Jenssen 23/04/2024

In our quest to locate the most exclusive and exciting wines for our readers, we usually ask the question, “How many bottles of this were made?” Often, we get a general response based on an annual average, although many Champagne houses simply respond, “We do not wish to communicate our quantities.” As far as we’re concerned, that’s pretty much like pleading the Fifth on the witness stand; yes, you’re not incriminating yourself, but anyone paying attention knows you’re probably guilty of something. In the case of some Champagne houses, that something is making a whole lot of bottles—millions of them—while creating an illusion of rarity.

We received the exact opposite reply regarding Armand de Brignac Blanc de Noirs Assemblage No. 4. Yasmin Allen, the company’s president and CEO, told us only 7,328 bottles would be released of this Pinot Noir offering. It’s good to know that with a sticker price of around $1,800, it’s highly limited, but it still makes one wonder what’s so exceptional about it.

Known by its nickname, Ace of Spades, for its distinctive and decorative metallic packaging, Armand de Brignac is owned by Louis Vuitton Moët Hennessy and Jay-Z and is produced by Champagne Cattier. Each bottle of Assemblage No. 4 is numbered; a small plate on the back reads “Assemblage Four, [X,XXX]/7,328, Disgorged: 20 April, 2023.” Prior to disgorgement, it spent seven years in the bottle on lees after primary fermentation mostly in stainless steel with a small amount in concrete. That’s the longest of the house’s Champagnes spent on the lees, but Allen says the winemaking team tasted along the way and would have disgorged earlier than planned if they’d felt the time was right.

Chef de cave, Alexandre Cattier, says the wine is sourced from some of the best Premier and Grand Cru Pinot Noir–producing villages in the Champagne region, including Chigny-les-Roses, Verzenay, Rilly-la-Montagne, Verzy, Ludes, Mailly-Champagne, and Ville-sur-Arce in the Aube département. This is considered a multi-vintage expression, using wine from a consecutive trio of vintages—2013, 2014, and 2015—to create an “intense and rich” blend. Seventy percent of the offering is from 2015 (hailed as one of the finest vintages in recent memory), with 15 percent each from the other two years.

This precisely crafted Champagne uses only the tête de cuvée juice, a highly selective extraction process. As Allen points out, “the winemakers solely take the first and freshest portion of the gentle cuvée grape press,” which assures that the finished wine will be the highest quality.  Armand de Brignac used grapes from various sites and three different vintages so the final product would reflect the house signature style. This is the fourth release in a series that began with Assemblage No. 1. “Testing different levels of intensity of aromas with the balance of red and dark fruits has been a guiding principle between the Blanc de Noirs that followed,” Allen explains.

The CEO recommends allowing the Assemblage No. 4 to linger in your glass for a while, telling us, “Your palette will go on a journey, evolving from one incredible aroma to the next as the wine warms in your glass where it will open up to an extraordinary length.” We found it to have a gorgeous bouquet of raspberry and Mission fig with hints of river rock; as it opened, notes of toasted almond and just-baked brioche became noticeable. With striking acidity and a vein of minerality, it has luscious nectarine, passion fruit, candied orange peel, and red plum flavors with touches of beeswax and a whiff of baking spices on the enduring finish. We enjoyed our bottle with a roast chicken rubbed with butter and herbes de Provence and savored the final, extremely rare sip with a bit of Stilton. Unfortunately, the pairing possibilities are not infinite with this release; there are only 7,327 more ways to enjoy yours.

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