Andreesen, Ellison Dip Into Their Billions For Swanky Real Estate Purchase

Topline

Billionaires Marc Andreessen and Larry Ellison both dug into their deep pockets in real estate transactions reported Friday, as Andreesen made the largest-ever home purchase in California while Ellison shelled out $345 million for a resort on Lake Tahoe.

Marc Andreessen and wife Laura Arrillaga-Andreessen dropped $177 million on a Malibu estate. (AP … [+] Photo/Paul Sakuma)

ASSOCIATED PRESS

Key Facts

Andreesen, head of venture capital firm Andreesen Horowitz, paid $177 million for the Malibu estate, topping the $165 million Amazon founder Jeff Bezos spent on a Beverly Hills property last year, according to the Wall Street Journal.

The 7-acre oceanfront property has a 10,000-square foot manor house, a spa and “little French bistro,” per WSJ.

Ellison, chairman and cofounder of Oracle, bought the Hyatt Regency Lake Tahoe Resort, Spa and Casino through his Lawrence Investments firm, the Tahoe Daily Tribune first reported.

The 422-room property will continue to operate as a Hyatt Regency, and a Hyatt spokesperson told the Tribune,  “There will be no business disruption with this transfer of ownership at this time.”

The Lake Tahoe resort adds to Ellison’s real estate portfolio estimated to be worth well over $1 billion by Forbes, including multiple other properties in the region.

Surprising Fact

Andreessen’s Malibu purchase may be the most expensive ever in California, but the $177 million price tag seems like a steal compared to the $238 million Ken Griffin paid for a New York City penthouse in 2019, which remains the most expensive home ever purchased in the U.S.

Tangent

Though Ellison is known for Oracle, the seventh-wealthiest person in the world also has made a large fortune on Tesla. Ellison, who is Tesla’s second-largest individual shareholder and sits on the company’s board, has a 1.5% stake in Tesla that’s worth $17 billion.

Further Reading

How Much Larry Ellison Has Made On Tesla Stock (Forbes)

Andreessen Horowitz Is Blowing Up The Venture Capital Model (Again( (Forbes)

Source: Andreesen, Ellison Dip Into Their Billions For Swanky Real Estate Purchase

*This is a free press release. Upgraded press releases are ad-free!

Li Auto Sales Surge More Than 200%. The Stock Is Rising.

This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com. https://www.barrons.com/articles/li-auto-stock-earnings-guidance-deliveries-51638178389 Updated Nov. 29, 2021 5:27 am ET / Original Nov. 29, 2021 4:33 am ET Order Reprints Print Article Investors should be pleased with third-quarter numbers from Chinese electric vehicle maker…

Read Press Release

Wisibl – Making influencer marketing as easy as booking a cab | Product Hunt

ProductsTopicsBrowse products through topicsUpcoming productsSee what Makers are currently buildingCollectionsProducts curated by the communityTime travelMost loved products by the communityNewsletterThe best of Product Hunt, everydayLaunching soon?Read our pro tips to prepare your huntCommunityDiscussionsAsk questions, find support and connectStoriesTech news, interviews and tips from MakersMakers GrantGiving back and supporting our communityToolsFounder ClubAmazing deals to kickstart your…

Read Press Release

NFTs could be a path towards new social interactions

NFTs have been continuously rising despite the price actions in the crypto market. These Non-Fungible Tokens are evolving as a topic of interest to a mainstream conversation. Variety of these crypto collectibles are drawing a new audience of enthusiasts. Notably, the entire industry is offering a glimpse into a new layer of social interaction. These…

Read Press Release

Taiwan Scrambles Jets after Chinese Air Force Breaches Buffer Zone

A Taiwan Air Force F-16 fighter jet takes off during a military exercise in southern Taiwan in 2014. Taiwan scrambled combat aircraft after Chinese jets flew through Taiwan’s air defense zone on Sunday, days after several U.S. lawmakers concluded a surprise visit to the island nation. Taiwan’s Defense Ministry said 18 fighter jets from mainland…

Read Press Release

Andreesen, Ellison Dip Into Their Billions For Swanky Real Estate Purchase - Click To Share

Share on facebook
Share on twitter
Share on reddit
Share on linkedin
Share on email
Share on whatsapp