Tuesday 21 December 2010

About the Seller: Businessman Michael Slaney selling his French Castle on Lindhurst Ave

You can't miss it.  The towering Roxbury Grove residence with a French feel sits comfortably amongst other multi million dollar homes, normal for the Preston Hollow area.  Built in 2008 by Dallas businessman Michael A. Slaney, the mansion boasts a French inspired interior with a stunning media room (I just had to mention that).  And of course, a pretty big price tag accompanies the home: $6,250,000.

But what about Slaney?  How did he make his money?

Biofuels.  He pocketed hundreds of millions upon selling his co-founded biofuel company, ASAlliances Biofuels. The business was sold to an energy corporation in 2007 for $725 million dollars.  Not too shabby, aye?

According to records, Slaney also owns a smaller residence on Irvin Simmons Drive.  My guess is that he downsized.  It's not rare for the mega rich to build massive mansions and then the next day realize they do not need all the square footage.  Take the Champ d'Or in Hickory Creek for instance (the 48,000 sq. foot home, way too big for anyone!).

Slaney's current position: founder and managing partner at ClearDevelopment Partners, LLC, a clean energy company.  What a true entrepreneur!


Thanks for reading,