A mansion sold by Oakley founder James Jannard is now the most expensive in Golden State history.
The home, located on Pacific Coast Highway in Malibu near El Pescador State Beach, was purchased for an eyewatering $210 million, the Los Angeles Times reported.
That is $10 million more than the previous record holder, another Malibu home that was purchased by Jay-Z and Beyoncé last year.
Jannard, who founded the eyewear and apparel giant Oakley, Inc. in 1975, made a fair amount of money on the 9.5-acre property that features 300 feet of ocean frontage; he bought the compound in 2012 from billionaire investor Howard Marks for $75 million, the L.A. Times said.
Before Marks, Herbalife co-founder Mark Hughes resided there, the Times added.
Spanning more than 15,000 square feet, the main house features eight bedrooms, 14 bathrooms and interior decoration by Michael S. Smith, who handled the remodeling of the Oval Office in the White House. There are two guesthouses on the property in addition to a large courtyard, manicured lawn and pool overlooking the Pacific Ocean.
While the buyer’s identity was not immediately known, records obtained by the L.A. Times indicated it was a Delaware-based limited liability company.
According to the Times, Jannard also recently listed another one of his homes – a “stone monolith of sorts” in Beverly Hills – for $68 million.
Malibu is now the site of the three most expensive homes in all of California: Jannard’s recently sold mansion, Jay-Z and Beyoncé’s property and an estate in the ritzy seaside community’s Paradise Cove neighborhood bought by billionaire venture capitalist Marc Andreessen for $177 million in 2021.