The world’s third richest man has sold a Beverly Hills mansion to himself for $84.5 million.
A subsidiary of French business magnate Bernard Arnault sold a single-storey townhouse in Trousdale Estates to another subsidiary founded by his lawyer, Dirt.com reported. The house was never publicly mentioned.
The billionaire investor sold the property through a limited liability company to another LLC, founded by the attorney in December, with a mortgage secured by a Paris bank known to have a long-standing relationship with Arnault, his family and his businesses.
Transfer taxes paid on the deal and they confirm the sale of $84.5 million
Located on a steep ridge in the Trousdale neighborhood, the contemporary townhouse was custom designed for Arnault by Marmol Radziner, an architectural firm based in Sawtelle.
Filed permits indicate the one-story home is likely to be larger than 10,000 square feet, but was built with just three bedrooms, Dirt says.
In addition to two guest suites, there is a gigantic master bedroom with two bathrooms, a separate sauna and wellness area, a dressing room and a private sitting room. At the back, an infinity pool is shaped like a frying pan.
The view spans the Los Angeles skyline, from DTLA skyscrapers to the Pacific Ocean and Catalina Island.
As the property has never been put up for sale, there are no public photos or much further details. In 2016, Arnault paid $32.5 million for the then-empty lot. The two-lot estate occupies nearly two acres, although much of that land is unusable on a hill.
Arnault also owns the property next door, on which he is building another modern mansion. He also has construction projects in the Bird Streets and Beverly Hills Post Office neighborhoods. And through several LVMH holdings, he owns a huge portion of the famous Rodeo Drive in Beverly Hills. In December, LVMH bought the Luxe Hotel for $200 million.
The 73-year-old real estate developer and business magnate is the richest man in Europe and the third richest in the world, worth $141 billion, according to Forbes. He oversees the LVMH empire of some 75 fashion and cosmetics brands, including Louis Vuitton and Sephora.
In January 2021, LVMH acquired American jeweler Tiffany & Co for $15.8 billion, believed to be the largest luxury brand acquisition ever.
[Dirt.com] † Dana Bartholomew