Iconiq Capital founding partner pays $20M for Malibu pad

Will Griffith, also Mark Zuckerberg’s money manager, paid $20M for Atherton home last year as well

Iconiq Capital founding partner pays $20M for Malibu pad
Iconiq Capital’s Will Griffith (LinkedIn)

Mark Zuckerberg’s money manager Will Griffith dropped $20 million on a home in Malibu’s Broad Beach, a year after paying the same amount for a property in Silicon Valley’s Atherton area.

Griffith, co-founder of wealth manager and property investor Iconiq Capital, and his wife Calla bought the 6,200-square-foot Malibu home in an off-market deal, according to dirt. The seller was JEM Sportswear founder Jeff Marine, the report noted. Marine had paid $7.2 million for the property a decade ago.

Built in 2013, the home has six bedrooms and six bathrooms. The main living room has a large sliding wall that leads out to an infinity pool and spa overlooking the Pacific Ocean.

Last June, the couple paid $20 million for a 13,000-square-foot home in Atherton, home to some of the area’s wealthiest people.

Iconiq, meanwhile, has also been in acquisition mode.

In addition to a client list that includes Twitter’s Jack Dorsey and Facebook’s Sheryl Sandberg, the firm has invested in dozens of startups and since 2019 has acquired its own investment properties.

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The firm closed Chicago’s priciest multifamily deal of 2020 when it paid $190 million for the 479-unit Essex on the Park tower from Oxford Capital and Quadrum Global.

Earlier this year, the firm paid $77 million for a 175-unit apartment building in Miami’s Wynwood neighborhood.

Iconiq continues to help its well-heeled clients with their own acquisitions. Zuckerberg has acquired property in Hawaii and in Lake Tahoe through Iconiq-controlled LLCs.

Most recently, the Facebook billionaire bought 600 acres on the Hawaiian island of Kauai, nearly doubling his footprint on the island.

[Dirt] — Dennis Lynch