The Whipped Cream House!

The Whipped Cream House!

The Whipped Cream House!

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In 1945 when the milk shortage was affecting dairy use in the home, Robert E. Rich, Sr., experimented with ways to make a cream substitute that would be cheaper and have a longer shelf life. He accomplished this through the use of soybeans. Unlike dairy-based cream products, his creation would last a long time in the refrigerator and more than a year in the freezer without decomposition. From the success of his invention was born Rich Products Corporation. From there, each decade saw accelerated growth through the design of new products and acquiring additional related companies to expand the product line. Today, Rich Products Corporation has manufacturing plants in Mexico, London, Singapore, Hong Kong, Tokyo, Australia and more, and employs more than 7,200 worldwide. When Robert, Sr. died in 2006, his son, Robert, Jr., inherited his Palm Beach estate.

Robert, Jr., who lives full-time on Islamorada in the Florida Keys, put the estate on the market at $19.8m last year and its recent final sale price at $14.35m is now the second highest residential sale in Palm Beach for 2012. At 1.5 acres, the estate is the largest developed oceanfront property in the neighborhood. It faces a federally protected dune area of about the same size that has 142’ of beachfront. The 5-bedroom house, built in 1970, consists of 7,473sf of indoor and outdoor living space and the grounds contain a putting green and winding drive entrance.

Robert E. Rich, Jr. is said to be worth $2.1 billion, is ranked No. 200 in Forbes’ 2012 list of the country’s wealthiest Americans and holds spot No. 601 on its list of the world’s billionaires. One of the people involved in the purchase is developer Robert G. Fessler, though names of the other involved parties have yet to be released.

Source: www.corcoran.com