To quote the immortal lyrics of The Notorious B.I.G., we’ve got another unfortunate case of “Mo Money, Mo Problems.”
The 1990s and 2000s were good years for Halsey Minor. He founded CNET in 1993, turning it into one of the Internet’s first profitable companies, then sold it to CBS for $1.7 billion in 2008. But by comparison, the last few years haven’t been quite as stellar. Minor was named #1 on the state of California’s list of top 250 delinquent taxpayers in 2012, with unpaid taxes estimated at $10,711,699.29. And in May of this year, he filed for Chapter 7 bankruptcy. Allegedly, the former multi-millionaire owes more than $100 million and only has $50 million on hand to cover his debts.
Now, as a likely part of that filing, Minor’s 7,479-square-foot mansion in Los Angeles has hit the market for $14,950,000 as a bankruptcy sale — that’s about $5 million less than what he purchased it for in 2006.
Located in lower Bel Air, this gated home sits on a cliff with unobstructed, panoramic city and ocean views. The four-bedrooms, six-bathroom home was originally designed by famed Mid-Century architect Richard Dorman and built in 1964 — but move-in ready, it is not. According to the listing, the home has come into disrepair. So if you’re looking for a contemporary estate in a prime location in Los Angeles to fix up, look no further.
Side Note: Minor also owns an 18,000-square-foot, eight-bedroom, seven-bathroom home in San Francisco’s prestigious Presidio Heights neighborhood that’s also currently for sale for a cool $21 million. That home was modeled after Marie Antoinette’s Le Petit Trianon in Versailles — but like his Los Angeles home, it’s also in a pretty bad shape.
Images via the MLS.