Billionaire's purchase of untouched land leaves community buzzing: 'It has been an eyesore'
Last year, billionaire Thomas Peterffy purchased a six-acre parcel of untouched mangrove swamp on the island of Palm Beach from the local branch of the Audubon Society — not to destroy and develop it, but to restore and preserve it, The Palm Beach Post reported.
Mangroves, areas where trees grow along shorelines with their tangled roots diving directly into the water, act as vital fish nurseries, and they also store carbon pollution and keep it from heating up the planet. Preserving these key ecosystems is a vital part of protecting the planet for the future.
Audubon Everglades, the previous owner of this parcel, did its best after having the land donated to it. But it didn't have the budget to maintain the complex landscape, which was being overcome by trash and invasive species.
"It is right adjacent to my house and growing wild with raccoons, coyotes, and abandoned cats. It has been an eyesore," Peterffy said, per the Post.
In addition to unwanted animals, the plot is plagued with invasive plants. But Peterffy will have those removed twice a year, along with the trash that gets tangled in the mangroves, thanks to the terms of a conservation easement that has been attached to the property for its current and future owners.
Not only has Peterffy agreed to care for the property, but he has also paid Audubon Everglades $1.3 million for the privilege, money that could help fund other conservation efforts in the area.
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Peterffy's son, William, may have been part of the inspiration for the deal. He is an environmental scientist who graduated from the University of Colorado and founded the philanthropy One Small Planet.
"The decision was made with great care and consideration, and we are happy with the sale," said Scott Zucker, president of Audubon Everglades.
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Billionaire's purchase of untouched land leaves community buzzing: 'It has been an eyesore' first appeared on The Cool Down.
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