Economy

Jeff Bezos buys Warner Estate in Beverly Hills for record $165 million

Jeff Bezos buys Warner Estate in Beverly Hills for record $165 million”

Amazon CEO Jeff Bezos reportedly purchased a Beverly Hills mansion for $US165 million, setting the record for the most expensive home sold in California.

Bezos purchased the property - designed for Warner Bros. president Jack Warner in the 1930s - from media mogul David Geffen, and the price tag eclipses a $150 million residential real estate purchase of a Bel-Air estate previous year by Lachlan Murdoch.

According to Architectural Digest, the Beverly Hills house is spread in 13,600-square feet, which has expansive terraces and gardens, two guesthouses, nursery and three hothouses, tennis court, swimming pool, nine-hole golf course and motor court.

One of the properties he visited was an eight-acre estate in Bel Air that's seeking $225 million, said Shawn Elliott, a broker with Nest Seekers International, which has listed the property. That beats the previous record for priciest residential purchase of $150 million in LA set past year for a Bel Air estate known as Chartwell.

Geffen paid $47.5 million when he bought the property in 1990, the Journal reported.

Last week, the New York Post reported that Bezos and his girlfriend, Lauren Sanchez, were house hunting in Los Angeles and touring mansions throughout the area.

More news: Novel coronavirus deaths in China top 1300 as country expands diagnosis

The purchase of the so-called Warner Estate by the Amazon.com Inc. founder is the latest in a string of mega-deals for residential properties in the U.S.

Bezos has maintained his lead as the world's richest man according to Forbes, despite divorcing his wife Mackenzie in a case estimated at KSh 3.8 trillion in January 2020.

Bezos, the world's richest man with a fortune over $120 billion, purchased the mega-mansions for $165 million and $90 million, respectively. Sources confirmed Bezos bought the land, describing it as an "investment".

The combined purchase price of $255 million surpasses the $238 million that hedge fund executive Ken Griffin spent on a Manhattan penthouse.

It's emerging just days after regulatory filings showed Bezos cashed out $4.1 billion of Amazon shares and comes amid reports that he's also entered the art market.



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