📰 Australia's youngest billionaire has announced his plans to transform a derelict mansion into a modern multi-level home worth $145 million.

Crypto-gambling billionaire Edward Craven purchased the Toorak property for $80 million in less than two years.

The vacant lot is located on St. George's Road, in Melbourne's upscale billionaire's neighborhood.

Craven is one of the wealthiest people in the country. His new mansion will cost several times more than the renovation of four waterfront sites in Vaucluse into one mansion completed by Leon Kamenev last year.

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