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The Real Deal Los Angeles

Billionaire Stan Druckenmiller shells out $36M for Malibu pad

Former hedgie bought estate for $5,200 psf in off-market deal
By Katherine Clarke and Hannah Miet | March 28, 2017 08:30AM

Stan Druckenmiller and Malibu Colony Beach

Billionaire trader Stanley Druckenmiller and his wife Fiona look to have scooped up an oceanfront Malibu pad next door to action star Jason Statham for $36 million, The Real Deal has learned.

The five-bedroom, seven-bathroom property on Malibu Colony Road, which totals 6,900 square feet, sold in an off-market deal for roughly $5,200 per square foot, records show. It last traded in late 2006 for $22.75 million, to an entity managed by attorney and wealth manager Andrew Katzenstein. The identity of the owner behind the entity was not clear.

The LLC that bought the property appears to have been named for the Druckenmiller’s canine companion Axel. The dog recently strutted his stuff at the Westminster Dog Show, according to Fiona’s Instagram account. Druckenmiller’s in house counsel is named on the deed.

A spokesperson for Druckenmiller was not immediately available for comment.

Information about the home is scant, but records show that it dates back to 1980, was last renovated in 2010, and spans two-stories. The estate sits on a 15,500-square-foot lot with a pool.

Druckenmiller, a former hedge funder who now manages his own Duquesne family office, has a net worth of about $4.7 billion, according to Forbes. He was formerly a close consigliere of finance giant George Soros.

The couple reportedly spend most of their time in New York, but also own a palatial Connecticut estate known as Sabine Farm, which they’re listing for $31.5 million.

Statham has lived at the property next door since 2009, when he paid $10.95 million to buy it from film producer Matt Palmieri.

Malibu Colony properties typically command top dollar, even as rentals. Police frontman Sting and his wife, producer Trudie Styler, are looking to lease their 5,550-square-foot beachfront abode on the same street for a whopping $200,000 a month.