A SpaceX board member has set a record for the Lake Tahoe area with a nine-figure home purchase.
An entity linked to Steve Jurvetson, board member for SpaceX and longtime Silicon Valley investor, bought an estate in Incline Village in an off-market deal for $125 million, Bloomberg reported, citing property records and LLC filings. The acquisition included the lakefront estate on Lake Tahoe as well as an adjoining parcel valued at roughly $7 million. The seller was a company linked to investor Gene Pretti.
This deal marks the highest known price paid for a residential property in the Lake Tahoe area, according to Bloomberg. The previous record, also set with an Incline Village home, was $62 million.
“It definitely sets a new precedent,” Christine Perry of Christie’s International Real Estate, who represented the sellers of the previous record-holding mansion, told Bloomberg of the new $125 million sale. “It’s very understated wealth. We’re not like Aspen. There is just a huge desire to be in this community, where there are great activities and great schools.”
Jurvetson has been on a shopping spree in Incline Village this year. An entity connected to the venture capitalist bought another mansion in the lakeside enclave in February for $46 million, according to another filing.
Incline Valley has long been a playground for ultra-wealthy buyers, including tech executives like Jurvetson.
Early this year, Google co-founder Sergey Brin plunked down $42 million for a mansion on the lakeshore, Realtor.com reported; that purchase came at the same time Brin spent nearly $50 million on a Malibu estate. Meta CEO Mark Zuckerberg bought two historic estates and has built a sprawling compound there. Oracle co-founder Larry Ellison and Workday co-founder David Duffield have also been residents on the lake.
Jurvetson, an early investor in Tesla and SpaceX, has often launched his own spacecraft from Nevada’s Black Rock Desert, roughly two hours by car north of Lake Tahoe. He was formerly a venture capitalist at DFJ before resigning in late 2017 amid allegations of sexual misconduct, which he has denied. He founded his own firm, Future Ventures, in early 2018. — Chris Malone Méndez
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