Tech billionaire Peter Thiel has been revealed as the new owner of the Casa Encantada estate in Bel-Air. The storied mansion, built in 1938, sold for $130m in July at an open-air foreclosure auction in Pomona.
The buyer's identity was kept confidential for months, but the Wall Street Journal first reported that the winning bid came from a limited liability company linked to Thiel, a venture capitalist and co-founder of PayPal and Palantir.
The sale of the 40,000 sq ft property is the most expensive in Los Angeles this year. The estate, set on approximately 8.4 acres, includes seven bedrooms, 20 bathrooms, a tennis court, terraced gardens, and a 60ft swimming pool.
According to reports, Thiel had considered the property for months before the auction. He reportedly intends to use the mansion as an investment and plans to upgrade it, rather than reside there. This acquisition adds to his extensive real estate holdings across three continents.