Jeff Bezos CEO of Amazon has acquired Beverly Hills property at a record price. At $ 165 million, this is the most expensive real estate sale in the history of Los Angeles.
Bezos, the richest man in the world, acquired the Jack Warner Estate for one-eighth of his net worth, estimated at $ 131 billion.
He bought real estate from David Geffen, a businessman, producer, and director of a film studio, whose net worth is estimated at $ 9 billion. Geffen acquired real estate in 1990 for $ 47.5 million, which in value terms in 2020 will be about $ 92.9 million.
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The most expensive real estate record in Los Angeles was previously in the Chatwell Estate in Bel Air, which was acquired by media heir Lachlan Murdoch for $ 150 million in December 2019.
The Warner Estate is a historic mansion built for the Hollywood studio of tycoon Jack Warner, who founded Warner Bros. along with his brothers Harry, Sam, and Albert. The estate was completed in 1937 after a decade of construction and was known in the 1930s and 1940s for parties attended by Hollywood “lists.”
According to the Architectural Digest in which Warner Estate was introduced in 1992, a Georgian-style mansion of 13,600 square meters is located on a 9-acre site. Feet extensive terraces and gardens, two guest houses, a nursery and three greenhouses, a tennis court, a pool. , 9-hole golf course and motor area with own service garage and gas pumps.”
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AMAZON CEO JEFF BEZOS
In addition to buying this property, Bezos also acquired a plot of land from the estates of the late Microsoft co-founder Paul Allen for $ 90 million. Bezos and his girlfriend, Lauren Sanchez, reportedly inspected Los Angeles real estate for a while before deciding to acquire Warner Estate.
The estate and land are just the latest additions to Bezos’s real estate portfolio, which already includes two houses in Los Angeles, a mansion in Washington, a ranch in Texas, a Seattle estate, and three adjoining apartments in New York worth about $ 80 million put together.
Bezos spent more on Warner Estate than Amazon paid this year. Amazon will pay $ 162 million in income tax for $ 13.3 billion, which is 1.2 percent. U.S. companies typically pay 21% income tax, which was reduced from 35% under the 2017 Tax and Jobs Reduction Act.
In January, Bezos made $ 13.2 billion in about 15 minutes after Amazon stocks rose. Since the total value of the real estate and land is $ 255 million, buying a property is less than two percent of Bezos’s amount in minutes.
