GRIFFIN'S DOG EATS BETTER: £1BN Luxury Vs. London's Homeless

US Billionaires Anchor Luxury Market While UK Faces Housing Catastrophe—London's ultra-exclusive property market has been dramatically reshaped by a deluge of investment from American billionaires, who have poured hundreds of millions into residences at The Peninsula, a newly opened super-luxury development in Belgravia. With total development costs exceeding 1 billion, The Peninsula holds the dual distinction of being one of the world's finest hotels and London's most expensive new residential building, Daily Dazzling Dawn understands.

The American buying frenzy, driven by a desire for global "trophy" assets and a favourable currency exchange rate, is exposing the city's stark and widening social divide. As of mid-2025, US buyers have surged to account for an unprecedented 25\% of all super-prime purchases (homes priced at \text{\pounds}15 million and above) in the capital, making them the single largest foreign buyer demographic.

The Billionaire Roster and the Human Cost of Luxury-The luxury at The Peninsula, where approximately 20 residences have sold for prices reaching up to an eye-watering \text{\pounds}100 million, stands as a severe point of criticism against the backdrop of the UK's deepening housing crisis.

The100 million penthouse, believed to have been purchased by Citadel founder Ken Griffin 95 million Georgian mansion nearby, highlights an obscene scale of global wealth. Other buyers include Blackstone hedge fund founder Stephen Schwarzman, WhatsApp co-founder Jan Koum, and financiers Todd Boehly and John Liew.

This spending occurs as London grapples with a catastrophic homelessness emergency:

Record Rough Sleeping: Recent data from the Combined Homelessness and Information Network (CHAIN) reveals that 13,231 people were recorded sleeping rough in London during 2024/25—the highest figure on record and a 10\% increase on the previous year.

Temporary Accommodation Crisis: A record-high of 131,140 households across England, including nearly 170,000 children, are now trapped in temporary accommodation.

Escalating Costs: London boroughs are now spending a staggering 5.5 million a day on homelessness, driven almost entirely by the escalating cost of providing this temporary accommodation.

Unmatched Decadence—Even for Pets

The amenities catering to the residents of The Peninsula further illustrate the disconnect between the ultra-rich and the public. The building is designed not just for billionaires, but for their pets:

Pet-Catering Chefs: Peninsula chefs reportedly collaborate with dedicated "residents' vets" to create custom-made gourmet menus to meet the specific dietary needs of the residents' pets.

Decadent Facilities: Residents enjoy a chauffeured Rolls-Royce car fleet and a 25-metre indoor pool with a "sculptural ceiling inspired by an ice cave."

The millions spent on luxury features like dedicated pet services are being directly contrasted with the cost to house London's own homeless families. Critics argue that the purchase of these properties purely as "trophy assets," as noted by Savills, demonstrates a profound disconnect from the devastating housing reality, symbolising a market where need has been entirely displaced by extreme greed. The purchasing trend reflects a broader increase in Americans seeking London property, with many even applying for UK citizenship, positioning London homes as long-term assets, lifestyle anchors, and bases for family and business across the Atlantic.