Bill Gates Rents Wellington Florida Equestrian Property For $600,000

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Bill Gates Rents Wellington Florida Equestrian Property For $ 600,000 for the Equestrian winter season here in Wellington. This home has eight bedrooms and is about 7,300 square feet. They rented the home from December to May.

Bill Gates is coming to Wellington Florida for his daughter Jennifer who is riding, training and competing in the equestrian events at our Winter Equestrian Festival that we have every year here. The house is hacking distance from the showgrounds and the Winter Equestrian Festival activities. 

mallet hill wellington

We are of course excited that the richest man in America is coming to Wellington. We have a lot of stars and notable diplomats and business people who spend their winters in Wellington for the equestrian season and polo season. 

George Banks who is a real estate developer owns the house that Bill Gates rented out from him for the season. Most seasonal rentals in Wellington are from either November to April or December to April and some from January to April. For this small period of prime time in Wellington expect to pay at least double what an annual rental would be. 

Bill Gates not only paid $600,000 for the seasonal lease but he also put in the lease an option to buy theTuscan Mansion that is worth $12.9 Million in Mallet Hill in Wellington. 

Mallet Hill only has one entrance and is a gated community. All the homes in Mallet Hill are on 5 acres of land. Mallet Hill only has about 20 homes and ranches and this is a very safe area. The least expensive home in Mallet Hill is $1.5 Million. 

New York City Mayor Michael Bloomberg also owns a home in Mallet Hill. He is Number 12 on Forbes lists of top 400 richest people. 26 of the top 400 Forbes list live in South Florida.

Madonna almost bought the same home last year that Bill Gates just leased. 

We know the Equestrian area of Wellington and have sold vacant land, lots and equestrian homes here in Wellington. ( photo courtesy of Jose of 

Comments (15)

Ed Kurosz , Lic. Assoc. RE Broker
Douglas Elliman Real Estate - Westhampton Beach & Quogue - Westhampton Beach, NY
Douglas Elliman Real Estate Hamptons & North Fork

Madonna and Mayor Bloomberg have recently purchased equestrian properties here in my neck of the woods in the Hamptons. Anybody have Bill's number? I have a few properties I could present to him for consideration.

Oct 21, 2011 06:51 PM
Ginny Gorman
RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in Southern RI and beyond

Katerina, what a great tidbit of notable info on Bill Gates & family and perhaps the Wellington short sale agents can interest him in a great buy somewhere else in the Wellington area- how is it that he hasn't found the experience he needs in real estate by calling you! oh, melinda must be making the decisions here...

Oct 21, 2011 11:29 PM
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA

There are similar horse enthusiests winter rental homes in South Carolina - John K Mellencamp's ex-wife and daughter started this trend in the late 80s

Oct 22, 2011 12:49 AM
Toronto, ON

Hi Katerina - $600,000 is less than than the property tax he pays on his primary residence in Washington State.  I had vaguely recalled that he paid $600,000 in property tax from an article I had read many years ago.  Just did a Google search and a Wikipedia article says he paid $1.063 million in 2009.

Oct 22, 2011 01:55 AM
Katerina Gasset
Get It Done For Me Virtual Services - Wellington, FL
Get It Done For Me Virtual Services

Ginny- You are so creative:) I was just telling one of my coaching clients about your awesome comments:) Yeah, unfortunately he was not looking for wellington short sales:) just mega equestrian ranches in wellington and Melinda must be making those decisions:) Thanks for commenting. Katerina 

Oct 22, 2011 02:54 AM
Bob Hertzog
Summit Home Consultants - Phoenix, AZ
Designated Broker

Hi Katerina. Wellington Florida is such a great place to live in so im not surprised that even Bill Gates knows that for a fact. For interested buyers, make sure you contact top Wellington Short Sale Agents Katerina Gasset! 

Oct 22, 2011 04:09 AM
Eileen Hsu
Douglas Elliman Real Estate - Manhattan, NY

Wellington Florida sounds like a celebrity sighting town. I am not surprised that Mayor Bloomberg has a house there, he vacations quite often...!


Oct 22, 2011 06:19 AM
Laurie Clark CRB Angel Realty LLC Your Monument Realtor 719-502-6572
CRB-CCSS-ASD-HBS-RSD-Denver Short Sale Agents - Monument, CO
Angel Realty, LLC

Wow, that is such a beautful property and what a great boost for the local economy.

Oct 22, 2011 12:41 PM
Sussie Sutton
David Tracy Real Estate - Houston, TX
David Tracy Real Estate for Buyers & Sellers

Two words....Kewl Beans

Oct 22, 2011 05:06 PM
Melissa Zavala
Broadpoint Properties - Escondido, CA
Broker, Escondido Real Estate, San Diego County

And, do they go to the supermarket or the store (or do they have help for that)? I'm thinking that they have help for that.

Oct 23, 2011 03:18 AM
Loreena and Michael Yeo
3:16 team REALTY ~ Locally-owned Prosper TX Real Estate Co. - Prosper, TX
Real Estate Agents

My eyes popped at the $600K number. Our markets are very different. $600K buys a real awesome house here. But for someone whose checkbook is at the size of Bill Gates, nothing comes more important than his children - his ultimate "wealth".

Oct 23, 2011 12:52 PM
Petra Norris
Lakeland Real Estate Group, Inc. - Lakeland, FL
Realtor, Lakeland FL Homes for Sale

Katerina - My daughter and I were just talking about this very same subject as she read the news via Facebook.  Now wouldn't it be nice Bill Gates is calling the most experienced short sale luxury agents, like you and Nestor for a tour of Wellington Short Sales.

Oct 23, 2011 01:26 PM
Katerina Gasset
Get It Done For Me Virtual Services - Wellington, FL
Get It Done For Me Virtual Services

Loreena- Here his daughter will have a lot of fun training and competing and yes, Bill and Linda will support their children plus they help thousands of poor and sick children here and in Africa. They are HUGE givers.


Oct 23, 2011 01:31 PM
Richard Weeks
Dallas, TX
REALTOR®, Broker

Looks much smaller then his home in WA.  Hope the are not too cramped.

Oct 24, 2011 09:40 AM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Katerina- fun news.... Wellington certainly has some "big" players!

Oct 24, 2011 09:49 AM