Billionaire sparks outrage after buying up public street to expand estate: 'He's probably used to getting everything he wants'

Billionaire hedge funder Paul Tudor Jones is drawing criticism after purchasing a portion of a public street in West Palm Beach, Florida, to expand his private waterfront estate, according to the Robb Report.

Jones recently received approval from the West Palm Beach City Commission to buy a 65-foot segment of Essex Court — a narrow, dead-end street in the city's SoSo neighborhood — for $220,000.

The move allows him to link three parcels of land he owns along the Intracoastal Waterway into a single, 2.7-acre gated compound, according to Robb Report.

While Jones' team emphasized that the acquisition wouldn't block access to any neighboring driveways or essential services, local opposition quickly surfaced.

Some residents voiced frustration about losing a public street to private ownership, particularly in a fast-developing area where parking and road access are already tight.

"This guy has more money than we do, and as a billionaire, he's probably used to getting everything he wants," one neighbor said in response to the development.

Jones' planner, Brian Cheguis of iPlan & Design, defended the design, noting that it had passed review by the city's Plats and Review Committee and fire department. "We left 30 feet from the swale back," Cheguis said. "It's really not that big of a deal."

As development accelerates in coastal cities like West Palm Beach, environmental advocates warn that unchecked luxury expansion could threaten fragile ecosystems along the waterfront.

Projects that consolidate green space into private estates often reduce tree cover, strain water systems, and limit public access to natural areas.

Across Florida, cities are exploring policies that prioritize sustainable development and equitable land use to ensure that entire communities — not just the wealthiest individuals — benefit from coastal resources.

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And for many in the neighborhood, the sale symbolizes a deeper shift. West Palm Beach — once more insulated from the glitz of nearby Palm Beach — has become a new frontier for billionaires assembling massive real estate holdings.

As the report notes, similar compounds have been created by financial heavyweights like Ken Griffin, Kenneth G. Tropin, and William P. Lauder.

With West Palm's median home price hovering around $515,000 and continuing to rise, longtime residents face growing concerns about displacement, overdevelopment, and the privatization of shared community space.

For them, a billionaire buying a piece of the street isn't just a real estate move — it's a sign of what's being lost.

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