Bill Gates reportedly rents Florida home

Microsoft honcho Bill Gates and his wife, Melinda - with whom he runs a charity - reportedly is renting a Wellington, Florida, home for the winter. The 7,300-square-foot, eight-bedroom home is in South Shore's Mallet Hill enclave.

The home sits on 5 acres with a barn and a horse-training area where his oldest daughter will hone her riding skills. She is a junior equestrian and is expected to compete in the Winter Equestrian Festival held at the Palm Beach International Equestrian Center, which is within walking distance from the home.

The home has been on the market for a couple years, and Madonna reportedly was considering buying it in 2010 but instead settled on a Hamptons horse farm in New York.

"There is nothing else like it," Cornelia Bernard Henderson, editor of equestrian magazine Sidelines, told the Palm Beach Post in 2010. "It is the destination. This is where everyone goes in the winter because it is the most important venue in the country."

Mallet Hill is the site of many moving trucks as wealthy residents move in and out of the enclave. Celebrities like Tommy Lee Jones, Madonna, several Olympians and the daughter of New York City Mayor Michael Bloomberg have descended on the area to live and play.