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.
JEFF BEZOS Public Profile (Jeff Bezos Biography 2020)
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.”
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.