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

Discussion in 'Off The Beaten Track' started by PeterG, Jan 7, 2012.

  1. PeterG

    PeterG Well-Known Member

  2. skatingfan5

    skatingfan5 Past Prancer's Corridor

    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. :shuffle:
  3. Vash01

    Vash01 Fan of Yuzuru, Medvedeva, T&M, Shibs, P&C

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

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

    Louis Well-Known Member

    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.
  5. aliceanne

    aliceanne Well-Known Member

    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.
  6. orbitz

    orbitz Well-Known Member

    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.
  7. triple_toe

    triple_toe Well-Known Member

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

    mag Well-Known Member

    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.
  9. Wyliefan

    Wyliefan Well-Known Member

    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.
  10. Anita18

    Anita18 Well-Known Member

    That was my first thought as well.
  11. Carmen Ovsiannikov

    Carmen Ovsiannikov Well-Known Member

    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 :yikes: at how easily celebrities run through such large amounts of cash. They never seem to think of the future.
    Vash01 and (deleted member) like this.
  12. Spinner

    Spinner Where's my book?

    Oh, America...
  13. moojja

    moojja Active Member

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

    PeterG Well-Known Member

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

    hydro Well-Known Member

    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?
  16. overedge

    overedge Janny uber

    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.
  17. Spinner

    Spinner Where's my book?

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

    Carmen Ovsiannikov Well-Known Member

    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.


    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.
  19. manhn

    manhn Well-Known Member

    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!
  20. Twilight1

    Twilight1 Well-Known Member

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

    Buzz Well-Known Member

    I'm with the group who calls it a waste of money no matter who does that sort of thing.
  22. Wyliefan

    Wyliefan Well-Known Member

    :rofl: Sure, nail an entire country for something done by one of its non-citizens.

    I hate to break it to you, my friend, but human nature is flawed wherever you go.
  23. aliceanne

    aliceanne Well-Known Member

    I don't see the analogy, she didn't do anything illegal or harmful to anyone.

    If you disapprove of her lifestyle that's your privilege, but I don't see how this story is newsworthy, as an example of wretched excess among the rich and famous, it seems pretty ordinary.
    Last edited: Jan 7, 2012
  24. orbitz

    orbitz Well-Known Member


    Would it not be a waste if the home was only worth 300K and it was bulldozed in order to built a new one in its place?
  25. duane

    duane Well-Known Member

    This is another example of the exploits of the filthy rich. But hey, it's her money and she can waste, uh, spend it as she so pleases. :rolleyes:
  26. bek

    bek Guest

    I can't say for sure but I believe (even if she worked as a nanny in her gap year). Elin may actually be from a wealthy family in Sweden. Her mom is a politician and her dad is a popular radio show host. She apparently was always continuing her education (while married to Tiger) to be a child psychologist.

    And if she builds a house of better value, she could "maybe make money off it." Who knows. She's also apparently dating a very rich man and perhaps they are talking about getting serious...So there's more money.
    Last edited by a moderator: Jan 7, 2012
  27. marbri

    marbri Hey, Kool-Aid!

    The two homes I've bought in my lifetime I bought for location and decided to "fix up" the houses. I wish I had just bulldozed them and built a new house on the lot, would have saved a lot of tears and made more sense financially because essentially I was trying to turn an old house into a new house.
  28. bek

    bek Guest

    Apparently the original plan was to remodel the house, but then they decided to tear it down. It may have been a stupid move, but I bet a big part of the house's value was the property.
  29. Vash01

    Vash01 Fan of Yuzuru, Medvedeva, T&M, Shibs, P&C

    That makes more sense. Sometimes remodeling just does not give you exactly what you want.
  30. Rafter

    Rafter Well-Known Member

    Even if she spent $30 million total on the house, she still has $70 million dollars left. That is a TON of money. I'm sure she will have good financial advice and invest wisely. With that kind of money she may be able to live off the interest.