Madoff victims to get $7 billion gift

Palm Beach Gardens north to Jupiter and Jupiter Island has long been known for the big money of its residents. You can see it everywhere from the exotic sports cars to sport fishing boats that can cost millions and the luxury country clubs. The estate of an Admirals Cove resident recently made a gift of $ 10 million dollars to the Jupiter Medical Center. This is the largest single gift ever. His son lives in a waterfront estate where the tax bill alone is $ 50,000 per year.

Now, with Tiger Woods, Michael Jordan and Alan Jackson moving into the area, we are getting big, celebrity money. But the big money, the really big money is on the island of Palm Beach. The mega- yachts moored there run well over 150 ft. and come from all over the world. And you often hear foreign languages being spoken when on the Island.

But, the big money, the really big money on Palm Beach lives along Ocean Boulevard. Donald Trump has his Mar-a-Lago club there, John Lennon owned a home there, Rod Stewart lives around the corner and Rush Limbaugh has his compound on the north end. The house Trump sold for $ 85 million was on Ocean Boulevard too. When you visit the Island, you must take this drive and continue south through Manalapan where enormous oceanfront estates await you.

So when it was announced that the estate of one of Bernie Madoff’s victims, Jeff Picower, was giving $ 7 BILLION to help other Madoff victims it came as no surprise that he lived on Ocean Boulevard. The tax bill on his 18,000 square foot, $24 million dollar, home is over $ 200,000 per year. He passed away in 2009 from accidental causes.

It's a gesture like this that restores your faith in humanity. Picower's wife said he would have wanted it this way.

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