Not many millionaires can call Tom Cruise their next-door neighbor, but Amazon’s Jeff Bezos can. Bezos currently owns a $27 million Beverly Hills estate, complete with a tennis court, greenhouse, swimming pool and secondary guesthouse that takes up two acres of land.
Some of the most high profile purchases in recent years include Bezos’ $24.5 million Beverly Hills compound, but it seems that other techies are following suit by purchasing their own luxury real estate properties in Southern California.
Silicon Valley’s most affluent have made headlines for their purchases of extravagant Los Angeles homes in the past, but the region has become increasingly appealing to both investors and startup entrepreneurs.
“We’ve seen an uptick in buyers from the technology industry over the last several years — some moving to Los Angeles and some buying second homes here, as a kind of peaceful retreat,” said Charles Black, executive vice president of marketing and strategic development at Hilton & Hyland.
Los Angeles and the Southern California region offers these new buyers a growing tech scene, near-perfect weather, and more space for less money. There’s simply more business in Los Angeles as well. In 2014 the Los Angeles-Long Beach region made the top five metropolitan areas by venture capital investment for the first time, with 171 deals totaling $2.05 billion, according to the National Venture Capital Association.
Other high profile purchases include that of Sean Parker, co-founder of Napster and an early leader at Facebook. Parker purchased Ellen DeGeneres’ Holmby Hills mansion for $55 million. Swedish tech billionaire Markus Persson, the creator of “Minecraft,” spent $70 million on a Beverly Hills mansion. One of the home’s most impressive features is a car lift, which moves cars to underground storage.
Entrepreneur and investor Justin Yoshimura, 25, has a slightly different story. While he spends the majority of his time in San Francisco, he recently purchased a $2.04 million three-bedroom, three-bathroom home in Santa Monica that he now spends weekends in.
“Compared to San Francisco in particular, it’s very cheap,” he told Times. “I have a yard with a pool and a beautiful home for less than what I would pay for an equivalent-sized condo in San Francisco.”
While we can’t all hope to become the next big entrepreneurs with the most extravagant Los Angeles real estate properties, we can still find a piece of luxury real estate in Southern California to call home. Rancho Santa Fe is a neighborhood that offers beautiful homes with top-of-the-line amenities and more.
Contact Jason Barry of Barry Estates for more information!