Oakley founder James Jannard reportedly set a new state record when he offloaded his massive beachfront home in Malibu, California.
Selling the mansion and its 9.5-acre property in a private transaction brought the eyewear and apparel mogul $210 million, the Los Angeles Times reported Tuesday.
The paper named Westside Estate Agency’s Kurt Rappaport. He did not respond to Gxstocks’ request for comment.
The property reportedly went for $210 million. (Google Earth)
The Oakley founder, who has a net worth of $1.3 billion, per Forbes, had owned the Ferguson & Shamamian-designed mansion for over a decade prior to parting ways with it, the outlet reported. Oakley's performance eyewear is a favorite of endurance athletes around the globe.
A pair of Oakleys (Luc Claessen/Getty Images)
The 15,000-square-foot home contains eight bedrooms, according to the Los Angeles Times. There are also reportedly two guest houses.
Architecture firm Ferguson & Shamamian has described the massive lot that the mansion sits on as "command[ing] spectacular views of the Pacific Ocean" from its perch on the "rugged cliffs" in northern Malibu.
Its $210 million sale price amounted to $135 million more than Jannard splashed out to buy it, the Times reported.
An Oakley store at Cancun International Airport in Mexico (Artur Widak/NurPhoto via Getty Images)
Before that, California’s all-time sales record had belonged to an estate acquired by Beyonce and Jay-Z last year, according to the outlet. That mansion, also in Malibu, reportedly cost the couple $200 million.
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Beyonce and Jay-Z perform during the Global Citizen Festival: Mandela 100 at FNB Stadium on December 2, 2018, in Johannesburg, South Africa. (Kevin Mazur/Getty Images for Global Citizen Festival: Mandela 100)
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In Malibu, homes had median asking prices of $6 million in May, according to Realtor.com. For sale prices, the median was $4.8 million.
A couple strolls along the beach at Paradise Cove which is part private/part public in Malibu on October 28, 2014. (Anne Cusack/Los Angeles Times via Getty Images)
Billionaires other than Jannard have been involved in real estate transactions in recent months.
Laurene Powell Jobs recently became the owner of a four-acre property in Malibu, with the acquisition reportedly costing her $94 million.
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In May, the Wall Street Journal reported New England Patriots owner Robert Kraft received $22.5 million from a buyer for an apartment he owned in the Plaza Hotel in New York City.
