Peter Thiel bought $250m-listed LA mansion at foreclosure for $130 million
Peter Thiel, the billionaire entrepreneur, has acquired Casa Encantada in Bel-Air for a staggering $130 million during a foreclosure auction. Listed originally for inflated prices by owner Gary Winnick, this luxurious estate boasts a rich history dating back to 1938, showcasing the classic Old Hollywood style and offering stunning views of the Bel-Air Country Club.
In July 2023, billionaire investor Peter Thiel quietly acquired a Bel-Air mansion known as Casa Encantada through a foreclosure auction in Pomona. The 40,000-square-foot property, originally listed for $225 million and $250 million in 2019 and 2023 respectively, was purchased for $130 million - a fraction of the estate's initial asking price. The 58-year-old PayPal co-founder and venture capitalist now owns one of Los Angeles' most expensive home sales.
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