Live Like A King: The Homes of America's Richest People

Sept. 28, 2007 Special to ABCNEWS.com — -- When you have it all, you need a place to put it all.

Multimillion-dollar yachts need to be docked. The de Koonings have to be hung. And you've got to park the Rolls somewhere.

That's where the billionaire's house comes in.

Check out some billionaire homes at our partner site, Forbes.com.

There's plenty of room for David Geffen's Pollocks and Rothkos along the walls of his 100-room Beverly Hills, Calif., mansion. Paul Allen can dock his 416-foot yacht -- the Octopus -- beside his Mercer Island, Wash., waterfront property. And there's plenty of space for Warren Buffett's Cadillac DTS in the driveway of his Omaha, Neb., home.

In most cases, a 6,000-square-foot home like Buffett's would be considered a mansion, but among the members of the billionaire fraternity, it's one of the smallest places on the block.

Bill Gates' Medina, Wash., home checks in at 66,000 square feet, including a 1,000-square-foot dining room.

At 33,000 square feet, Michael Dell's Austin, Texas, pad, not far from the University of Texas dorm room in which the tech giant started his company, is a bit more modest.

And while Donald Trump may be better known for the $125 million Palm Beach, Fla., property he has on the market, his 62,000-square-foot Mar-A-Lago estate is none too shabby. It has a 20,000-square-foot ballroom.

Perhaps most mind-numbing of all is Baron Capital Management founder Ron Baron's record-breaking buy this year. In May, Baron paid Adelaide de Menil Carpenter, an heiress to the Schlumberger oil fortune, $103 million for a 40-acre property in East Hampton, N.Y., shattering the previous residential record held by Ron Perelman, who sold a Palm Beach estate for $70 million in 2004.

There are two unique ways in which billionaires facilitate a home buy.

One is to simply ask for it. That's what financier Henry Kravis did last year when he made an unsolicited $50 million offer for a 15,255-square-foot Palm Beach property, which the owner readily accepted.