Michael Bloomberg Pays $44.79 Million for Henry Kravis’s Colorado Ranch

In the wake of his presidential campaign, billionaire businessman Michael Bloomberg has quietly paid $44.79 million for a Colorado ranch, according to people with knowledge of the transaction. Mr. Bloomberg bought the roughly 4,600-acre ranch in northwest Colorado from Henry Kravis, co-founder of private equity giant KKR. Known as “Westlands” and located about an hour’s drive from Aspen, the property was listed for $46 million early last year. The deal closed April 14, about six weeks after Mr. Bloomberg dropped out of the presidential race. Mr. Bloomberg, the co-founder of Bloomberg LP and former New York City mayor who spent hundreds of millions of dollars on his bid for the White House, already has a portfolio of pricey homes around the world, including a mansion on Manhattan’s Upper East Side, a house in Bermuda and a townhome in London. Mr. Kravis bought Westlands for about $5.5 million in 1991. He built the property’s sprawling main house, which spans about 19,000 square feet with five bedrooms, a wine cellar, a theater and an indoor hot tub. The ranch also includes a swimming pool, four-hole golf course, tennis court, helipad, helicopter hangar, two large guest cabins and a carriage house, in addition to outbuildings for staff, horses and ranch support facilities...MORE