74-Year-Old American Billionaire, Who Achieved a Historic First, Sells Equestrian Estate for Whopping $21,680,000

She is the CEO of Salamander Resorts, co-founder of BET, and most importantly the first billionaire of African-American descent. Sheila Johnson has lived a life of pride and inspiration for every African-American person. She now made headlines in the equestrian world by selling a massive property for a whopping $21.68 million. The estate, a luxurious one, was developed by Johnson and her company around 2001-2003.

Standing at 74 years old, Sheila Johnson has been the owner of several sports franchises throughout her life. She also dipped her toes in the equestrian world by developing this 14.15-acre property in 2001. Now, after making a fortune, she is selling it.

The Grand equestrian estate gets sold after 20 years

The Grand Prix Village in Wellington, Florida is one of the main hubs of equestrian estates, which are often put up for sale by auction houses like Sotheby’s, etc. Earlier in 2018, Miley Cyrus also made a $5 million deal for an equestrian estate in Los Angeles. Johnson and her legal firm 3531 Olde Hampton Drive LLC, developed this estate right in the heart of the village more than 20 years ago. However, she managed it not from Florida but from her house in Virginia.

As per South Florida Business Journals, the buyer, Michael Hall from Jacksonville, Florida, and his firm Shady Grove Road Commercial Properties bought the multi-million dollar estate from Johnson. Owing to the magnitude of the cost, Hall even had to take out a mortgage of $13.112 million from BNA Bank.

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The equestrian estate is as grand as it sounds and priced accordingly. Although the estate was first listed at $35 million more than a year ago. It was sold at $21.68 million. The Grand Prix Village, where its located, is also near the Pal Beach International Equestrian Center which hosts some of the finest equestrian competitions in the nation.

The estate has a 20-stall horse barn in its 14.15-acre area. It also has a 7-stall barn along with plenty of jumping fields and riding areas. More than 7000 square feet of space under the air, with a 10-bedroom staff house. What’s more, there is a 3-bedroom penthouse on top of it. Johnson had owned this and WNBA teams like Washington Mystics, Washington Capitals, Washington Wizards, etc. But having found a great deal, she sold it at the right price.

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The broker Maria Mendelsohn of Douglas Elliman declined any further comment on the subject.