Billionaire George Lindemann and his wife Frayda sold their Palm Beach mansion for $23.7 million, just $200,000 more than what the couple purchased the oceanfront home for about a decade ago, according to Palm Beach County property records.
Lindemann, whose net worth is estimated to be $3.2 billion by Forbes, purchased the sprawling estate on North Ocean Way on the heels of the last recession. The chairman and CEO of Southern Union Co., a natural gas pipeline company, made his fortune in the vision, cable television and cellphone industries before dabbling in the energy sector. The New York entrepreneur also managed a string of Spanish-language radio stations.
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