See mansion (and 12-kid bunk room) Best Buy founder is selling for $5.5 million
While shoppers flock to Best Buy to purchase holiday gifts, the billionaire founder of the consumer electronics retailer is offering one of his sprawling Florida mansions at a $450,00 discount, according to a real estate representative.
The price for the Bonita Bay family retreat of Richard Schulze is listed at $5.495 million, down from $5.95 million.
If you’re buying it for a Christmas present, you’ll need a really big bow. The European-style estate spans over 14,000 square feet of living space, with seven bedroom suites and eight bathrooms. The mansion showcases a 12-person children’s bunk room, a theater room, game room, billiards room and lavish pool and grounds.
The mansion at 26331 Woodlyn Drive, Bonita Springs, southwest Florida, includes lakefront views and lush gardens on 1.23 acres.
The home is listed with Bill Earls of John R. Woods Properties in partnership with REX real estate.
Schulze, 78, built the home in 2000 for his growing family at a cost of $9 million, according to REX. He has 10 children and 33 grandchildren.
“Mr. Schulze is selling the home because his large extended family has outgrown it,” Steve Dawson, managing broker at REX, said in an email. “He and his wife have built a new home nearby that fits their current needs.”
“This is a stunning estate and the largest property in Bonita Bay, known as one of Florida’s premier golf communities,” Dawson added. “This grand home is meant for large gatherings and entertaining.”
Schulze, a St. Paul, Minnesota native, is worth $4.3 billion, according to Forbes. From a modest background, he served in the Air Force after high school. After the military, he worked as an electronics components manufacturer before opening a stereo equipment shop called Sound of Music in 1966 at the age of 26. The company expanded to six stores in 1983 and was renamed Best Buy. Today, Best Buy has nearly 1,000 locations.
Schulze stepped down as chairman in 2012.
He aims to give away $1 billion of his fortune in his lifetime through his family foundation, according to Forbes.
This story was originally published December 12, 2019 at 1:00 PM.
