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One Billionaire Bought A Rival’s Mansion (To Tear It Down And Build A Bigger One)


Tepper left Goldman, founded his own hedge fund, and became a billionaire. Then in 2015, he found a chance at getting revenge on Corzine.

Corzine and his wife Joanne Dougherty had lived in a Hamptons mansion, which they put a bunch of effort into building up. Tepper bought the mansion. Then he … tore it down. So he could build another mansion, twice as big, in the same spot. If he’d been planning on building a mansion from scratch, he could have done so more cheaply on vacant land rather than by buying an existing mansion only to raze it, but Tepper really wanted to destroy Corzine’s legacy. 

When Corzine and Joanne divorced in 2003, Joanne got the mansion, which was valued at $9 million. Tepper ended up paying $44 million for it, for the privilege of tearing it down. The news crushed Corzine, friends speculated. Or, well, maybe Corzine didn’t care at all, and this was a very expensive empty gesture. 

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