Billionaire Elon Musk Buys His Neighbor’s Home in Bel Air For $6.75 Million

    Posted by Cristin  |  November 1, 2013  |  7:44 am  |  Tags: , , , , , , , , , , , ,

    Forbes

    Elon Musk

    Bel Air, CA

    Most Known For

    Tesla CEO, also at the helm of SpaceX; previously made a fortune on PayPal

    Home Stats

    3 bedrooms, 4.5 bathrooms, 2,756 square feet, pool and private guest cottage, views

    Price

    $6,750,000

    Billionaire business mogul Elon Musk has just paid $6.75 million for his across-the-street neighbor’s home in ritzy Bel Air, California.

    Musk, who has amassed billions via Tesla, SpaceX and PayPal, currently lives across the street in a home he purchased on January 1, 2013 for $17,000,000. His current home has 7 bedrooms, 9 bathrooms and has 20,248 square feet of interior living space and incredible outdoor spaces.

    According to property records, his brand new purchase, just a few hundred feet away, was purchased on October 24, 2013 for $6,750,000.  The ranch-style home is substantially smaller than his existing abode, with just 3 bedrooms, 4.5 bathrooms and 2,756 square feet, with an oval pool and private guest cottage. The home was the longtime residence of “Charlie and the Chocolate Factory” actor Gene Wilder, who lived there from 1976-2007.

    What it lacks in size, Musk’s new property makes up for in opportunity. The home is the perfect location to develop a dream property. It sits on a one acre promontory overlooking a beautiful stream, mature trees and the white sand traps of the 13th green and 14th fairway of the prestigious Bel-Air Country Club Golf Course.  The lot is elevated, allowing for distant city views.

    Musk currently lives in an incredible estate that he previously rented for three years before he officially purchased it January 2013. It’s likely he’ll either capitalize on the opportunity presented by the new home and build an even more over-the-top mansion, or he’ll raze the existing home and create even better views and privacy for his current home.

    He’s not the first billionaire to buy their neighbor’s homes. Facebook CEO Mark Zuckerberg and Yahoo! CEO Marissa Mayer both recently paid millions of dollars for adjacent and nearby properties to ensure privacy.

    With a net worth of $6.7 billion, Musk has the purchasing power to gobble up all the pricey estates for miles and miles.

    Musk has made headlines recently when he unveiled plans for the Hyperloop, a rapid-speed train that claims to be able to transport passengers from San Francisco to Los Angeles in 30 minutes.

     

    Images via the MLS.

      Updated: Tech Mogul David Sacks Pays $20M For Home on San Francisco’s Famed ‘Billionaire’s Row’

      Posted by Cristin  |  December 18, 2012  |  4:02 pm  |  Tags: , , , , , , , ,

      Wikipedia

      David Sacks

      San Francisco, CA

      Most Known For

      Uber-successful tech mogul who was once CEO of Yammer and COO of PayPal

      Home Stats

      17,500 square foot main home and 6,000 square foot guest house, Unfinished interiors

      Price

      $20,000,000

      Tech mogul David Sacks has just paid $20 million for 2845 Broadway Street in San Francisco, making it the one of the most expensive homes ever sold in San Francisco. Sacks and his wife Jacqueline are the proud new owners of the partially-completed home on ‘Billionaire’s Row.’ The estate was previously owned by Peter Sperling, who made his fortune and earned his right to live on the prestigious block by helping build the The University of Phoenix online education empire.

      Sacks and his family will fit right into the neighborhood: earlier this year, he sold his company, Yammer, to Microsoft for $1.2 billion. Prior to Yammer, Sacks was COO at PayPal and founder of Geni.com, a family tree building and networking site. Just one month after selling Yammer, Sacks predicted “the end of Silicon Valley as we know it.” Perhaps this hunch is what convinced him to settle his young family into the historic Pacific Heights neighborhood, a part of town also enjoyed by nearby residents like the Getty family, Larry Ellison and Marc Pincus.

      Originally listed unfinished for the astronomical price of $65 million, the Sacks’ new home came on and off the market with drastic price chops for the greater part of six years. According to Socketsite, 2845 Broadway was part of a two-parcel site, which also included 2940 Pacific, that was purchased by the Sperlings for $32 million in 2002. The cost of construction for the 17,500 square foot home and 6,000 square foot guest house exceeded $20 million, and the “buzz among local brokers” is that it will cost upwards of $10 million to finish the home. Sacks better dig deep into the Microsoft money to make it happen.

      Update:

      We had previouly heard buzz among local “in-the-know” brokers that the purchase price would be $34.5 million. This is not the case and our source was incorrect. Public records now show the full purchase price of the home was $20M.