Entertainment Report
Jeff Bezos just dropped $165 million on a new Beverly Hills mansion
(CNN) — The world’s richest man is on a real estate binge.
Amazon CEO Jeff Bezos paid $165 million to buy a Beverly Hills mansion belonging to Hollywood mogul David Geffen, a source familiar with the transaction told CNN Business.
The news was first reported by the Wall Street Journal.
That isn’t the Amazon founder’s only Los Angeles purchase. According to the source, he shelled out another $90 million to buy a plot of land near the mansion from the estate of Microsoft co-founder Paul Allen, who died in 2018. That deal was made by Bezos Expeditions, an entity that controls several of Bezos’ other investments including The Washington Post and space company Blue Origin, the Journal reported.
Bezos’ new home was built in the 1930s by Jack L. Warner, cofounder of the Warner Bros. movie empire, and spans nine acres including a 13,600 square foot mansion, a tennis court, swimming pool, nine-hole golf course and garages with their own gas pumps, according to a 1992 profile of the house by Architectural Digest magazine.
According to the magazine, Geffen purchased the property in 1990 for an estimated $47.5 million — a national record at the time.
Representatives for Bezos Expeditions and Amazon did not immediately respond to requests for comment. Bezos and Geffen could not immediately be reached for comment.
News of the purchases comes less than a year after Bezos reportedly spent $80 million to buy three apartments — a penthouse and the two units below it — on New York City’s Fifth Avenue last June.
Bezos also owns the biggest home in Washington D.C., a former textile museum that he reportedly bought for $23 million in 2016.
Those may be eye-popping amounts, but they hardly make a dent in Bezos’ net worth, which the Bloomberg Billionaire’s Index says is currently $132 billion. Bezos saw his fortune increase by $8 billion in a matter of minutes earlier this month, when Amazon’s stock jumped 7% in a day. Bezos owns about 12% of the company.
The-CNN-Wire
By: NBC Palm Springs
February 13, 2020
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