Robert L. Johnson, renowned as the first Black billionaire, has recently made headlines by purchasing a luxurious mansion in Palm Beach Garden’s prestigious Old Palm Golf Club for a whopping $20 million.
The deal, revealed through property records, was sealed by a Delaware LLC and confirmed by listing agent Vince Marotta of Illustrated Properties. The purchase reflects Johnson’s continued success and resurgence in the business world.
The luxurious residence, located at 12236 Tillinghast Circle, spans an impressive 13,600 square feet and boasts five bedrooms, six bathrooms, and one half-bathroom, according to property records.
Originally constructed in 2011, the mansion underwent an extensive renovation masterminded by renowned architect Roger Janssen of Dailley Janssen Architects, interior designer Tamara Magel, and Lavelle Construction.
What makes Johnson’s acquisition noteworthy is that he agreed to purchase the property for its full asking price even before the renovation was complete.
This significant investment falls just shy of the price record set in July 2022, when a mansion on a double lot within the Old Palm Golf Club sold for $22.5 million.
Renowned for his groundbreaking success as the founder and former chairman of BET, the first Black-owned cable television network in the United States, Johnson’s entrepreneurial journey is legendary.
In 2001, he made history by selling BET to Viacom for an astonishing $3 billion, becoming the world’s first black billionaire.
Although a costly divorce settlement with his ex-wife Sheila Johnson resulted in a loss of his billionaire status, Johnson has consistently remained a powerhouse in the business world.
Leveraging his experience and expertise, he has built The RLJ Companies, an innovative business network that encompasses strategic investments across various industries.
This diversified portfolio includes hotel real estate, private equity, 401K fintech services, automobile dealerships, content streaming, gaming, and sports betting.
Through his entrepreneurial endeavors, Johnson has not only rebuilt his fortune but has also created significant value for investors.
The recent acquisition of the Palm Beach mansion demonstrates his unwavering commitment to expanding his business empire while enjoying the fruits of his labor in one of Florida’s most prestigious neighborhoods
