Michael O'Leary, now a Palma property owner.

Michael O'Leary, now a Palma property owner.

Majorca Daily Bulletin reporterPalma19/07/2018 00:00
TW

One of Ireland’s wealthiest and most controversial businessmen, the CEO of low-cost airline Ryanair Michael O'Leary, has purchased a large historic palace in the old part of Palma. It is understood that the property covers an area of 2,858 square metres and is protected by high walls.

The previous Majorcan owners put the property on the market for 18 million euros, but the king of low-cost airline travel finally purchased the palace for 14.7 million. However, the property is in need of serious attention and it is reckoned that O'Leary is going to have to invest between seven and ten million euros on renovating the property.

The palace features three patios and a palm garden along with three fountains and is set between Santa Eulalia, Sant Francesc and Montision.