Cosmetics heir William Lauder is tearing down a $110 million, six-year old mansion in Palm Beach, because … money.
“At more than 35,000 square feet, the mansion was designed to feature 16 bathrooms, a gym, barber shop, theater, and library. Last year, the property reportedly sold to an entity tied to William Lauder, a billionaire heir to the Estée Lauder makeup fortune, for an astonishing $110 million. But the palatial estate is apparently not up to his family’s standards. On Wednesday, the town approved a plan to tear down the home — built just six years ago — to the dirt.”
I am not good at economic theory. Is this man creating wealth this way? Is this a brilliant move, worthy of Dick Cheney at his best, that proves the validity of trickle-down economics for all time, and deserving of another big tax cut ? Or is it more of a Donald Trump casino-going-bankrupt kind of deal?