Your gift is matched today!

Double your donation's impact on our newsroom today during our June member drive.
1,535 sustainers of 2,500 goal
Logged in as
Audience-funded nonprofit news
radio tower icon laist logo
Next Up:
0:00
0:00
Subscribe
  • Listen Now Playing Listen
  • Listen Now Playing Listen

This is an archival story that predates current editorial management.

This archival content was written, edited, and published prior to LAist's acquisition by its current owner, Southern California Public Radio ("SCPR"). Content, such as language choice and subject matter, in archival articles therefore may not align with SCPR's current editorial standards. To learn more about those standards and why we make this distinction, please click here.

News

$100 Million Home in Silicon Valley Sold to Facebook Investor

This story is free to read because readers choose to support LAist. If you find value in independent local reporting, make a donation to power our newsroom today.

First Facebook made Mark Zuckerberg millions, then it garnered an Oscar for Aaron Sorkin, and now it has made possible one of the the most expensive sales of a single-family home in U.S. history.

Russian billionaire Yuri Milner, who is a heavy investor in Facebook, Groupon and Farmville, according to NPR, purchased the $100 million, 250,000 square foot mansion in Silicon Valley from sellers Fred and Annie Chan. The house has a spa, a gym, a ballroom (you know...for balls), and a view of the San Francisco Bay.

Architect William Hablinski told the AP that when it came to building the home:

"It did have a budget, it just went far beyond."

You come to LAist because you want independent reporting and trustworthy local information. Our newsroom doesn’t answer to shareholders looking to turn a profit. Instead, we answer to you and our connected community. We are free to tell the full truth, to hold power to account without fear or favor, and to follow facts wherever they lead. Our only loyalty is to our audiences and our mission: to inform, engage, and strengthen our community.

Right now, LAist has lost $1.7M in annual funding due to Congress clawing back money already approved. The support we receive from readers like you will determine how fully our newsroom can continue informing, serving, and strengthening Southern California.

If this story helped you today, please become a monthly member today to help sustain this mission. It just takes 1 minute to donate below.

Your tax-deductible donation keeps LAist independent and accessible to everyone.
Senior Vice President News, Editor in Chief

Make your tax-deductible donation today