After nabbing the title for the wealthiest person in the world once again, billionaire Jeff Bezos has taken another title thanks to some recent record-breaking real estate purchases.
Expensive Purchases
Bezos, perhaps looking for a new place now that he’s found new love with girlfriend Lauren Sanchez, reportedly acquired two large properties right in the heart of Beverly Hills.
The 56-year-old Amazon CEO spent a combined $255 million as he purchased a total of about 130 acres of the Californian city’s landscape.
This massive expense accounts for just 0.2% of the businessman’s reported $129 billion. Broken down, he paid $165 million for a 10-acre property and $90 million for a 120-acre one.
While spending $255 million on real estate alone is impressive enough, Bezos’ dues don’t in this initial payout given California’s property taxes.
He will have to pay an extra $5 million a year in taxes alone for his latest acquisitions. Give his fortune though, that wouldn’t surely be a problem.
The Warner Estate
His first purchase is the Jack L. Warner Estate, which as the name suggests is the former home of the entertainment executive.
The transaction resulted in Bezos setting the current record for the priciest sale in the history of the state beating out Lachlan Murdoch’s earlier $150 million transaction when he bought the Beverly Hillbillies mansion.
The 10-acre property is home to a 13,600 square feet mansion, a nine-hole golf course, and a tennis court. It was also once owned by another entertainment executive, David Geffen who acquired it for $47.5 million back in 1990. Adjusted for inflation, that price tag is the equivalent of $93 million today.
Hilltop Knoll
Just a few minutes away from the mansion is Bezos’ second purchase, Enchanted Hill. The property is located on a vacant hilltop in an area known as Beverly Hills Post Office.
Like the billionaire’s other purchase, the 120-acre lot once belonged to a famous owner. This time it’s the late Microsoft co-founder Paul Allen.
There was originally an expansive mansion standing on the piece of land but Allen decided to tear it down to build two of his own. However, the plan never pushed through leaving the lot overrun with brush as it is today.