To update you on a story recently posted by Marquette Turner, Donald Trump’s $US100 million Palm Beach property has reportedly been purchased by Russian billionaire, 41 year old Dmitry Rybolovlev. Rybolovlev, who is ranked number 58 by Forbes in the World’s Rich List, is Chairman of the Russian chemical’s company UralKali.

The Wall Street Journal reports that, despite the magnificence of the mansion, Rybolovlev plans to demolish the 33,000 sq foot property – clearly the purchaser sees the value in the size of the estate (6.5 acres), including 475 feet of frontage on the Atlantic Ocean.

Perhaps Trump could have perhaps made a greater return if he’d have demolished the property himself two years ago rather than making the cosmetic renovations during the hotter market.

Simon Turner