CEO of Amazon, Jeff Bezos, just purchased the most expensive house ever sold in Los Angeles and bought this property in $165 million. He bought this property from David Geffen, producer, film executive, and a businessman.
Bezos, founder & CEO of Amazon, is the wealthiest person in the world. So, he needs no worry about the payment, as his estimated net worth is $131 billion.
David Geffen purchased the property for $47.5 million in 1990 and paid $20 million more on renovations. Now it would be around $92.9 million in 2020 values. The Chartwell Estate in Bel Air recently held the most costly Los Angeles property record. Lachlan Murdoch bought this for $150 million in December 2019.
The Warner Estate is a historic mansion created for the Hollywood studio mogul Jack Warner, founder of Warner Bros. with his brothers Sam, Albert, and Harry. Hollywood A-Listers attended parties there, which made it famous in the 1940s.
David Geffen sold the 9.4-acre property, which includes a 13,600-square-foot mansion to Bezos in a deal published by The Wall Street Journal. It also includes a tennis court, two guesthouses, nine-hole golf course, nursery, expansive terraces and gardens, swimming pool, and motor court with its service gas pumps and garage.
Bezos also bought land from the estate of (Late) Microsoft co-founder Paul Allen for $90 million. Bezos with her girlfriend, Lauren Sanchez, had browsed real estate of Los Angeles for a while. And then they decided to purchase Warner Estate.
Jeff Bezos owns two Los Angeles homes, a ranch in Texas, a mansion in Washington D.C, three adjacent apartments in New York, and an estate in Seattle.
In this year, Amazon will pay $162 million in tax on 13.3 billion dollars in profit, which equates to 1.2 percent. He paid more on Warner Estate than Amazon’s payable tax this year. Companies in the U.S. ordinarily pay 21 percent in charge of their profit; which was cut from 35 percent by Tax Cuts and Jobs Act 2017.
In January, Bezos earned $13.2 billion in approximately 15 minutes after Amazon shares surged. The total cost of the estate and plot of land is $255 million; which made only 2% of the money he earned by Amazon shares surged.