Andrew Wigdor, Naples Daily NewsPublished 9:00 a.m. ET Dec. 16, 2019 | Updated 9:00 a.m. ET Dec. 16, 2019
A look at Best Buy founder Richard Schulze's Bonita Springs mansion
Still in need of a Christmas gift for that special someone? The Bonita Springs mansion owned by Best Buy founder Richard Schulze is on the market for $5,495,000.
The 14,363-square-foot home at 26331 Woodlyn Drive in Bonita Bay is being listed by Bill Earls and Larry Lappin of John R. Wood Properties. Covering 1.23 acres, it is one of the most lavish homes in Bonita Bay, a gated community with a private beach club, marina and golf courses.
Schulze is a St. Paul, Minnesota, native who founded the electronics titan in 1966 and served as its CEO from 1983 to 2002.
First dubbed "The Sound of Music," the company's name was later changed to Best Buy after it expanded to six stores in Minnesota by 1983, according to the Richard M. Schulze Foundation's website. Schulze's net worth currently sits at $4.3 billion, according to Forbes.
Schulze built the Bonita Bay home in 2000 at a cost of $9 million, stated a news release from REX Real Estate, which is assisting in promoting and marketing the property.
“My family and I have called Bonita Springs home for nearly 20 years," Schulze said in an emailed statement. "We designed this custom home for our large family as an idyllic retreat that offers a little something for everyone."
Schulze said he eventually decided to give up the home because he wanted more room for his growing family.
"I have to admit, it’s a little bittersweet to say goodbye to such an amazing home where countless memories were created entertaining our children and grandchildren until the family became too large for our long-standing residence," he said in the statement. "With three times the grandchildren now, we plan to relocate to a larger home that can accommodate our growing family and plan on staying in the Bonita Springs community."
The REX news release stated that Schulze now has 10 children and 33 grandchildren.
"It worked for him a long time," Earls said. "He wanted to try a little different flavor, if you will, a different product."
Earls said that Schulze purchased land in the exclusive Port Royal neighborhood several years ago and has built one of the "substantial estates" on the street for his new home.
A 2013 Naples Daily News article states that Schulze purchased land that year on Gordon Drive under a trust for $30 million with plans to build a new home.
"He wanted to stay nearby because he loves this area," Earls said. "Bonita Bay has been a fantastic community for him. He's a golfer. He loves that community. It was just time for him to do a Gordon Drive beachfront estate."
While Schulze may have outgrown the property, it should hold many large families. The home features seven bedrooms, 12-person children’s bunk room, a study, theater room, game room, billiards room and pool. It is currently the fifth highest-priced listing in Bonita Springs.
"It is not like any of the other homes in Bonita Bay," Earls said. "It's really, truly a standout property both in size and grandeur."
Earls added that Bonita Bay is a "magnificent golf course community" with multiple, "world-class" courses. The community also includes 18 tennis courts and a 10,000-square-foot fitness center and spa.
"The opportunities for entertaining and accommodating a large family are unsurpassed in Bonita Bay," Earls said.
Reach Andrew Wigdor at email@example.com and on Twitter @andrew_wigdor