California Billionaires Pay $48.5 Million for Oceanfront Villa in Palm Beach
A 1930s home on the ocean in Palm Beach, Fla., has sold for $48.5 million, just shy of the $54.9 million asking price.
The buyers are Southern California-based billionaires Duane and Kelly J. Roberts, who are food and real-estate entrepreneurs. The seller is Edward Mulé, co-founder and CEO of Silver Point Capital, a Greenwich, Conn.-based investment firm. Mulé bought the house for $15.01 million in 2019, property records show, and put it on the market in February.
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