Bill Gates buys historic Portofino Castle in Italy for $60million as he adds to his real estate empire
Bill Gates added some European influence to his real estate portfolio after investing $60 million in Italy’s historic Portofino Castle.
The 67-year-old founder of Microsoft bought the castle of Portofino in the Liguria region of northern Italy through his real estate company Four Seasons.
Gates, the world’s fourth richest man, had bought the real estate company from Saudi Prince Alwaleed bin Talal after buying half of Alaweed’s Kingdom Holding Company’s previous 47.5 percent stake for $2.21 billion in 2021.
Local newspaper Il Secolo XIX reported that the billionaire has purchased the ‘Castello’ estate – said to be the most prestigious property in the village.
The castle is currently split into twelve mini-apartments, but Gates’ goal is to turn Europe’s real estate goldmine into a luxury hotel. However, environmental restrictions will make this difficult, he said Il Secolo XIX.
According to local newspaper Il Secolo XIX, Bill Gates has just purchased the historic castle of Portofino in the Liguria region of northern Italy.
The beautiful property – previously known as ‘Castello di San Giorgio’ cost Gates approximately $60 million
The billionaire bought the castle through his Four Seasons ownership and plans to convert the property – which is currently split into twelve mini-apartments – into a luxury hotel.
Gates purchased the historic castle for about $60 million from a Genoese insurance company.
The 12,917 square meter property – formerly known as Castello di San Giorgio – has a private elevator that takes guests directly to the picturesque beaches surrounding Portofino harbour.
The castle’s site was historically used for military defense during Roman times and was abandoned when the region was peaceful in the early 19th century. Decades later it was bought by an English diplomat who turned it into a luxury villa.
Portofino – a popular tourist destination – is a town located around the small harbor and known for all the colorful buildings scattered along the coast.
This isn’t the first historic Italian monument Gates has spent money on. In June 2022, he purchased the Palazzo Marini in Rome through his Four Seasons ownership to convert it into a six-star hotel.
The building boasts an enviable location for attracting tourists, not far from the famous Trevi Fountain, the Spanish Steps and Via Condotti, Rome’s fashion shopping center.
Four Seasons is facing a major project: converting the expansive Palazzo Marini into Rome’s first six-star hotel.
Gates owns a $12.5 million Indian Wells mansion located in the exclusive Vintage Club in Indian Wells, California, which requires a $250,000 membership fee. The house – which he bought in 1990 – has six bedrooms, nine bathrooms and a guitar-shaped swimming pool
The luxury hotel and resort company planned to spend $120 million renovating the building, according to the purchase papers reported by the Daily Beast, which are only visible in person at Rome City Hall.
The company announced in January 2022 that it had more than 50 new projects in planning or development, including in Italy, Spain, China, Japan, Colombia, Belize and in key markets in the US.
While Gates used his recent ownership of Four Seasons to expand his real estate empire outside the US, his national real estate portfolio is already impressive.
His primary residence is the $131 million home he owns in Medina, Washington, which sprawls over 66,000 square feet and took seven years to build.
Nicknamed
The 60,000-square-foot mansion overlooks Lake Washington in Medina, ten miles outside of downtown Seattle, where the Gates Foundation is headquartered. The house has an indoor and outdoor pool with an underwater music system and fossil designs on the floor, plus an ancient fossil print of a palm leaf behind the diving board.
The five-acre parcel features a man-made stream stocked with salmon and cutthroat trout, and a beach with sand that some say was imported from the Caribbean. The seven-bedroom mansion, which reportedly has 18 bathrooms, features an art deco home theater with seating for 20 people, and a 1,000-square-foot dining room with seating for 24 people.
The 2,100-square-foot library includes two secret revolving bookcases, one of which contains a bar. A special corner has been built to display one of Gates’ most prized possessions: a scientific notebook that Leonardo da Vinci kept in the early 16th century and called the Codex. Gates bought it at auction in 1994 for $30 million.
His $12.5 million Indian Wells mansion is located in the exclusive Vintage Club in Indian Wells, California, which requires a $250,000 membership fee. The house – which was purchased in 1990 – has six bedrooms, nine bathrooms and a guitar-shaped swimming pool.
The Microsoft founder owns property in the Yellowstone Club in Montana. He paid an undisclosed sum to secure his spot on the Montana estate, but the membership alone is a whopping $300,000
The billionaire and his ex-wife Melinda shared a $43 million beach house in Del Mar, California, but the property has since become Gates’ bachelor pad after the couple divorced.
Gates bought a beach house just outside San Diego with his then-wife, fellow philanthropist Melinda Gates. The oceanfront mansion in Del Mar, California, dropped $43 million on the second most expensive home in San Diego County history.
The ultra-modern beach house was designed by world-renowned architect Ken Rochetti and features six bedrooms and 3.5 bathrooms.
The 5,800-square-foot property had a four-car garage, a huge oceanfront terrace, a glass-tiled pool and a huge Jacuzzi.
The San Diego beach house became the subject of controversy after Bill decided to empty the entire house following his divorce from Melinda. Neighbors claimed that Gates’ round-the-clock renovation work was bothering them and labeled the billionaire a “nuisance.”
Gates is a proud owner of an estate in the exclusive Yellowstone Club community. Other members of the chic private club include Justin Bieber and couple Justin Timberlake and Jessica Biel.
The Microsoft founder paid an undisclosed amount to secure his spot on the Montana estate, but the membership alone is a whopping $300,000.
Bill Gates’ real estate purchases over the years
- Indian Wells: $12.5 million
- Rancho, Santa Fe: $18 million
Bill and Melinda Bates bought their beachfront home in Del Mar for $43 million during the lockdown
- Yellowstone: at least $5 million
- South Florida: $9 million
Gates’ $9 million South Florida property, which he bought in 2009
- Washington farmland: $171 million