Ex-Wife Of Tiger Woods Buys $12 Million Home - Then Bulldozes It To The Ground

[PeterG]

According to TMZ, Elin Nordegren bought a $12 million home in North Palm Beach, Fla., but didn't like it, and has plowed the whole thing.

Lifestyles of the rich and famous??

The (former) home looked incredible. Six bedrooms and eight bathrooms. Now it's just rubble. She makes the one-percent'ers proud....

[skatingfan5]

Well, I guess it could provide some jobs and a mini-boost to the local economy if she's planning to build something new on the site. If not, maybe it will just revert to nature and add to the greenspace.

[Vash01]

Why did she buy it if she did not like it?

It's sickening that some people can just throw money away.

[Louis]

It looks from the picture like it's an A+ location right on the beach, yet secluded.

It's possible that the land is worth the lion's share of the price she paid, and the house itself is worth "just" a couple million.

[aliceanne]

That is pretty common for houses in that price range. I see articles all the time about the Hollywood set doing this, and no one makes any comment about it, I don't know why the press is making such a big deal. If the house is 40 or 50 years old it may be pretty costly to renovate. I like it, but maybe she just liked the site. She also may have bought it as a real estate investment and is planning to sub-divide the property and re-sell.

[orbitz]

It's her money, and she should do whatever she wants with it. I'm sure she's neither the first nor the last millionaire to do such a thing.

[triple_toe]

Don't see what the big deal is. Plenty of people buy houses for the location and tear them down or extensively renovate them.

[mag]

Don't see what the big deal is. Plenty of people buy houses for the location and tear them down or extensively renovate them.

I also don't see the problem. I'm sure all the contractors who will be building the new house, not to mention the architects, designers, and support staff, will be thrilled with the work and the pay! During a recession the best thing is for the rich to spend their money - lots of money - to help the economy.

[Wyliefan]

My dad thought maybe she did to get back at Tiger -- you know, spending $12 million of his money (or what was originally his money) on something and then destroying it.

[Anita18]

It looks from the picture like it's an A+ location right on the beach, yet secluded.

It's possible that the land is worth the lion's share of the price she paid, and the house itself is worth "just" a couple million.

That was my first thought as well.

[Carmen Ovsiannikov]

It's her money, and she should do whatever she wants with it. I'm sure she's neither the first nor the last millionaire to do such a thing.

My dad thought maybe she did to get back at Tiger -- you know, spending $12 million of his money (or what was originally his money) on something and then destroying it.

Well, what Tiger did was wrong but Elin isn't like the head of a multi-billion dollar company where she can expect the money in the form of huge yearly salaries to keep pouring in. The way she is spending, that $100 million won't last forever. $12 million to buy the house, not sure how many million the new house will cost plus the expenses incurred building the new house then maintaining it.

She reminds me of watching those Lottery Changed my Life then ruined it programs. Those people also get one lump sum then run through it living like wealthy socialites.

It always makes me at how easily celebrities run through such large amounts of cash. They never seem to think of the future.

[Spinner]

Oh, America...

[moojja]

Oh, America...

She's not an American. Nice of her to spend her money here, but she's from Sweden.

[PeterG]

"All the other kids shoplift, so what's the big deal if I shoplifted too?"

[hydro]

I don't see what the big deal is, she probably paid for the location more than anything. Isn't that the cardinal rule of real estate, location location location?

[overedge]

Well, what Tiger did was wrong but Elin isn't like the head of a multi-billion dollar company where she can expect the money in the form of huge yearly salaries to keep pouring in.

I don't think she settled for a one-time-only payment from Tiger, particularly as IIRC she has primary custody of their kids, and will be incurring ongoing expenses in taking care of them. I'm pretty sure she gets ongoing payments from Tiger, and I am also pretty sure that Tiger has enough money in investments etc. to keep making those payments, regardless of what his current salary is. So in a way she probably is like the head of a company with an ongoing revenue stream.

[Spinner]

She's not an American. Nice of her to spend her money here, but she's from Sweden.

You don't have to be born an American to act like one.

[Carmen Ovsiannikov]

I love the generalizations. Americans are not the only ones who spend on lavish lifestyles. That is not a soley American trait contrary to popular thought. Have you ever heard of the Ecclestones? Daddy is the British owner of Formula 1 (or One?) racing and bought one of his lovely daughters Candy Spelling old house for $85 million. I've also seen articles and programs on billionaires and their trust fund children from all over the world.

Anyhoo...

I don't think she settled for a one-time-only payment from Tiger, particularly as IIRC she has primary custody of their kids, and will be incurring ongoing expenses in taking care of them. I'm pretty sure she gets ongoing payments from Tiger, and I am also pretty sure that Tiger has enough money in investments etc. to keep making those payments, regardless of what his current salary is. So in a way she probably is like the head of a company with an ongoing revenue stream.

That's true but aside from the child support payments (I guess she could use those payments for expenses as well) what I meant was that no matter whether Elin receives her payment in a lump sum or in installments, once Tiger reaches the $100 million mark he will no longer owe that part of the payment. The only thing he will be required to pay would be child support for each child until they reach the age of 18.

Or perhaps it doesn't work that way and child support is part of the $100 million? And perhaps Elin might also be smart enough to invest in which case I can definitely see that her income will continue.

[manhn]

It's not like she spent that money on Kelly Clarkson CDs. She bought an asset that has a good chance of appreciating in value. And this $12million home probably cost quite a bit more just a few years ago. So, you go, Ex-Wife of Tiger Woods Whose Name I Don't Care To Know!!

ETA: The old house is okay, I suppose. I prefer something like the Graysons' summer house on Revenge!

[Twilight1]

You don't have to be born an American to act like one.

Wow what a completely awful comment to make in a thread about a woman buying property...who happens to be of Swedish descent.