The World’s Richest Man Just Bought Los Angeles’ Most Expensive House Ever

Jeff Bezos reportedly set a real estate record Wednesday with the purchase of an historic $165 million Los Angeles estate.

But the gargantuan buy made up just a fraction of the Amazon CEO’s recent stock sale and spending spree: He’s unloaded $4.1 billion in stock in the past 11 days alone, according to filings with the Securities and Exchange Commission, and spent $170 million in addition to the house in the past month.

The world’s richest man, with a net worth of $131 billion, has gone on a real estate tear in the past year, buying three New York apartments worth $80 million combined in June 2019, the $165 million Warner Estate, and a $90 million plot of undeveloped land in Los Angeles from the estate of Microsoft co-founder Paul Allen this month, according to The Wall Street Journal.

He already owns the largest house in Washington, D.C., worth $23 million, which he’s been remodeling for several years, and two other multi-million-dollar homes in Beverly Hills.

The high-profile Bezos’ latest purchase comes as he has faced criticism recently for amassing a fortune exceeding a hundred billion while economic inequality worsens nationwide and Amazon pays little in federal taxes.

The price of Bezos’ new Los Angeles mansion set a record for the city’s most expensive property ever.

The 9-acre estate previously belonged to record industry mogul David Geffen, who bought it for $47.5 million in 1990, a record price at the time.

In addition, news broke that the tech mogul spent more than $70 million on two paintings in anonymous auctions in the fall.

Ref: Property Report