Paul Tudor Jones, who last week warned of the rising wealth gap sparking a revolution, just spent $71 million on an estate in Palm Beach, Florida.
According to the Palm Beach Daily News, Jones bought Casa Apava, which was once owned by billionaire Ronald Perelman, for $71.2 million.
The house was sold by real-estate developer Dwight Schar, who bought the property from Perelman. The estate is on six acres, has 420 feet of oceanfront and a landmarked house reportedly built in 1918.
A spokesman for Jones declined to comment.
Last week, Jones gave a TED speech calling the growing gap between the rich and the rest of the country "disastrous," and said inequality is usually solved by revolution, war or higher taxes.
"The gap between the 1 percent and the rest of America, and between the U.S. and the rest of the world, cannot and will not persist," he said. "Now here's a macro forecast that's easy to make, and that's that the gap between the wealthiest and the poorest, it will get closed. History always does it. It typically happens in one of three ways—either through revolution, higher taxes or wars. None of those are on my bucket list."
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He said higher corporate profits and share prices have only helped the wealthy and he formed a new non-profit called "Just Capital" to solve the problem. Jones previously was the co-founder of the Everglades Foundation and the Robin Hood Foundation.
"It's like we've ripped the humanity out of our companies and reduced them to a set of numbers," he said.
At least for some people, those numbers have become very large.
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