Chewing-gum heir William Wrigley Jr. bought two Florida properties for $17.1 million in 2009 and 2010, built two mansions and sold them together for $97.5 million

William Wrigley Jr. turned two North Palm Beach properties, which he purchased for a total sum of $17.1 million, and merged them into a compound that broke the Lost Tree Village sales record in 2025. According to The Wall Street Journal, the heir to the Wrigley gum fortune then sold the adjoining holdings in December 2025 for $97.5 million, yielding a price almost six times higher than their combined acquisition cost. The off-market transaction involved two properties at 11465 and 11472 Old Harbour Road, covering 2.5 acres within the private and gated community.Two properties acquired a year apartProperty records show that Wrigley had acquired the larger parcel for $11 million in 2009. The following year in 2010, the smaller adjoining property was purchased for $6.1 million, bringing his total cash outlay on the two holdings to $17.1 million. The two holdings consisted of separate parcels, each with a mansion, and those mansions were built in 2013 and 2014. The estate also has multiple docks and occupies a strip along the Intracoastal Waterway.The larger parcel includes undeveloped land adjacent to the principal residence, but the potential for developing that additional land remained unclear. On top of that, the properties were not listed publicly at the time of transaction, leaving limited information about the marketing process or the buyer’s plans. Wrigley was represented by Gary Pohrer of Serhant; conversely, the purchaser was represented by Douglas Elliman.Local agents, in their account to The Wall Street Journal, said the sale price was high for a property without ocean frontage. The transaction followed a $55 million Lost Tree Village sale in May 2025, which had an oceanfront residence, according to The Real Deal.The previous sales record of Lost Tree VillageThe earlier record-holding title belonged to Canadian baby-products entrepreneur Maurice Pinsonnault, who sold his property at 12032 East End for $55 million in May 2025. The purchaser of that property was also undisclosed.Lost Tree Village stretches over approximately 450 acres and accommodates more than 500 residences in its vicinity. It has an 18-hole golf course, which was designed by Jack Nicklaus, who’s considered to be one of the most prolific golf course architects.Wrigley’s financial history extends beyond the property market. He assumed control of the family business in 1999, before selling the Wrigley Company in 2008 to Mars Inc. for $23 billion in cash. Subsequently, he worked in the capacity of chief executive of the cannabis company Parallel in 2018. His financial footprint, as per Forbes, is estimated at $3.6 billion. Although the buyer was not disclosed at first, The Real Deal identified fintech billionaire Ronald Clarke as the buyer.Wrigley’s other transaction portfolio includes an Aspen, Colorado, mansion, which he sold for $30 million in 2022, as per the Wall Street Journal. The North Palm Beach transaction also falls below the highest residential sale reported in South Florida as of 2025. William Lauder sold two properties at 1063 and 1071 North Ocean Boulevard in Palm Beach, covering 2.3 acres, for more than $160 million earlier that year, according to The Real Deal.You use AI every day. Now get your AI Quotient. Take the AIQ test.