Report: Jeff Bezos Buys L.A. Mansion for $165M
Jeff Bezos is the reported buyer of more prime real estate. This time, the Amazon CEO has dropped a record $165 million on a storied estate in Beverly Hills, Calif., according to The Wall Street Journal.
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 last year by Lachlan Murdoch.
The Journal, citing a person familiar with the transaction, reported that Bezos Expeditions, an umbrella company for various Bezos endeavors, also spent $90 million for a nearby plot of undeveloped land from the estate of the late Microsoft co-founder Paul Allen.
The Warner Estate was celebrated as the ultimate studio mogul property in a 1992 feature in Architectural Digest. The 13,600-square-foot Georgian-style mansion sits on nine acres and was said to include "expansive terraces and gardens, two guesthouses, nursery and three hothouses, tennis court, swimming pool, nine-hole golf course and motor court complete with its own service garage and gas pumps."
Geffen bought the property for $47.5 million in 1990 — which was a record then for a Los Angeles area home.
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"No studio czar's residence, before or since, has ever surpassed in size, grandeur, or sheer glamour than the Jack Warner Estate on Angelo Drive in Benedict Canyon," Hyland wrote.
Bezos' appetite for fancy living spaces has him scooping up properties on both coasts. Last June, the world's richest person was the reported buyer of three condos in New York City valued at $80 million. In 2017, he purchased a mansion in an exclusive Washington, D.C., neighborhood for $23 million and then set out to renovate the place for a reported $12 million.
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The largest property technology or "proptech" venture firm Fifth Wall is joining the SPAC boom.
In a filing with the Securities and Exchange Comission this week, the firm said its creating a special acquisition company (SPAC) and intends to raise up to $287 million by selling 28.75 million shares at $10 a piece to seek out opportunities in real estate tech.
- Brendan Wallace, Co-Founder & Managing Partner at Fifth Wall - dot ... ›
- Fifth Wall Venture Firm Is Now a B Corporation - dot.LA ›
Electric vehicle charging station provider EVgo is going public, joining a wave of companies in the electric vehicle industry hoping to ride on Tesla's soaring stock growth over the last year.
The Los Angeles-based startup, which operates a nationwide fast-charging network for electric vehicles, announced Friday it's going public through a merger with a special purpose acquisition company that will generate about $575 million in net proceeds.
The deal with the SPAC, Climate Change Crisis Real Impact I Acquisition Corp., values EVgo at $2.6 billion. Shares shot up more than 66% on the news.
In 2012, Evan Britton founded a website premised upon what the web arguably does best: help people obsess over celebrities.
Britton launched his first site in 1999 as a senior in college and has since made his living monetizing web clicks.
When he created Famous Birthdays as a sort of Wikipedia of celebrities nine years ago, Tiktok wasn't even born and Snap had barely launched. The term "influencers" had yet to seep into the mainstream. But as social media created a new form of celebrity, the site has morphed into a pillar of the teen-centric world of online personalities and creators.