Tuesday, March 29, 2011

Russian Facebook billionaire pays $70million for Silicon Valley mega-mansion



A Russian billionaire has paid a staggering $70 million for a mega-mansion in California’s Silicon Valley, it was revealed today.

The housing crisis may be rumbling on elsewhere in the US, but investor Yuri Milner bought the 25,000-square foot, 11-acre estate…as a second home!
It was the biggest price tag ever paid in Santa Clara County, an area known for its high-priced luxury properties.

The hilltop home, which includes its own carwash, was built in 2009 and has five bedrooms, nine baths and a tennis court.
Mr Milner’s primary residence is in Moscow, where he lives with his wife and two daughters. But he is a frequent visitor to the high-tech enclave in northern California.

The 47-year-old Internet tycoon – a former particle physics graduate student - appears on the cover of the most recent issue of Forbes magazine and has invested heavily in Facebook, Zynga and Groupon through his investment firm DST Global.
His company is said to control about 10%, or $5 billion worth, of Facebook’s shares.
He also built up the Russian online company Mail.ru, which last year listed on the London stock exchange.

Billionaire investor Yuri Milner has reportedly purchased this massive estate in California for $70,000,000 and plans to use it as his SECOND home! Mr Milner’s primary residence is in Moscow, where he lives with his wife and two daughters. The 11-acre estate is located on Paloma Road in Los Altos, CA and boasts panoramic views of the San Francisco Bay. Yuri bought it from Fred Chan, founder of ESS Technology, who has reportedly decided to stay in Hawaii after building the monstrosity of a home. This classical mansion was inspired by 18th-century French chateaux and boasts 25,000+ square feet of living space with 5 bedrooms, 9 bathrooms, central entry court, ballroom, home theater, wine cellar, spa/gym and more. The living areas are all located on the second floor to take advantage of the dramatic Bay view. It was designed by the prestigious Hablinski + Manion Architectural & Planning Group. The estate also boasts a tennis court, carwash, swimming pool and formal gardens