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Columbia U. Moves to Sell Billionaire's Palm Beach Compound

The late billionaire John Werner Kluge, who earned his fortune in the television biz, passed away last year at the age of 95 and bequeathed a sizable portion of his $6.5B fortune to higher education. His $400M gift to his alma mater, Columbia University, was the fourth largest such donation in American history and the donation of his 7,378-acre Albemarle County, Va. estate to the University of Virginia marked the largest single donation to the University. Now, Columbia University is planning to sell the Palm Beach mansion it inherited from Kluge. Asking price on the four-acre property in the heart of the estate section? $59M, making it the highest priced property currently on the market in Palm Beach.
· Kluge's former Palm Beach estate asks $59M [The Real Deal]