Paul Tudor Jones buys $71m Florida home after slamming American wealth gap
An investor has paid a whopping $71.2 million for a sprawling Florida estate - just two weeks after he gave a speech that slammed the rising wealth gap in America.
Paul Tudor Jones II, the billionaire founder of Tudor Investment Corporation, bought the Casa Apava estate in Palm Beach last week, the Palm Beach Daily News reported.
The Mediterranean-style seven-bedroom, 18-bathroom property was built in 1918 and has 420 feet of oceanfront access, as well as a tennis court, movie theater, swimming pool and gym.
The hefty purchase came days after Jones, 60, warned that increasing inequality could spark a revolution as he gave a sold-out TED talk in Canada in March.
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New home? Paul Tudor Jones II, the billionaire founder of Tudor Investment Corporation, spoke out against the rising wealth gap in America at a TED talk in Canada last month - and bought a $71m home days later
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ShareA spokesman for Jones declined to comment when reached by DailyMail.com.
In the speech, the self-made billionaire called the current wealth gap 'disastrous'.
'The gap between the one per cent and the rest of America, and between the U.S. and the rest of the world, cannot and will not persist,' he said.
'Now here's a macro forecast that's easy to make, and that's that the gap between the wealthiest and the poorest, it will get closed. History always does it. It typically happens in one of three ways - either through revolution, higher taxes or wars. None of those are on my bucket list.'
He said that while he is a proud capitalist because of the successes it has allowed him, he added that capitalism has become increasingly focused on short-term earnings, CNBC reported.
'It's like we've ripped the humanity out of our companies,' he said. 'It's threatening the very underpinnings of our society.'
Sprawling: The ocean-front home, which was built in 1918, has seven bedrooms and 18 bathrooms
Stunning: The Mediterranean-style home has ocean views one side and views across a lake on the other
Impressive: As well as 420 feet of oceanfront access, the home has a gym, tennis court and boat dock
Peaceful: There is also a swimming pool, a pool house and a movie theater at the sprawling estate
Luxurious: The former owners previously sold off three other parts of the estate in separate sales
He has formed Just Capital, a non-profit that aims to boost justness in companies by asking people how they deem a company to be just - and then judging the top 1,000 firms against these criteria.
Jones is married to Australian-born Sonia Klein, a former model who runs a chain of yoga studios in New York, and they have four children together. They live in Greenwich, Connecticut.
He has an estimated net worth of $4.6 billion, according to Forbes, which ranks him at number 352 on its list of the world's billionaires.
He is also one of the biggest philanthropists in the hedge fund world.
He co-founded the Everglades Foundation, which strives to protect the Everglades in Florida, and established the Robin Hood Foundation, which aims to alleviate poverty in New York. It has raised and granted more than $1.45 billion to the poor.
Jones, a graduate of the University of Virginia, has also given the college donations for a new basketball arena and various research facilities.
Billionaire: Jones is pictured with his wife, model and yoga entrepreneur, Sonia Klein, in February 2011
Critic: In his speech last month, he said he is a proud capitalist because of the successes it has allowed him but that capitalism has become increasingly focused on short-term earnings - which needs to change
In the Florida sale, Jones bought the oceanfront part of the property, which sits on six-acres of land.
Three lakefront sections of the estate were sold last year, earning its sellers, real estate developer Dwight C. Schar and his wife Martha, a total of $116.1 million.
The amount for the entire property means it is the island's highest ever deal for an estate with multiple parcels sold separately, according to the Palm Beach Daily News.
The Schars bought the property from millionaire Ron Perelman in 2004 and 2005 for $85.6 million.
The estate was originally designed by Abram Garfield, the youngest son of President James Garfield, in 1918 for U.S. Rep Chester Bolton and his wife, Rep. Frances Bolton.
It was later restored and altered by Ferguson, Murray and Shamamian Architects LLP.
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