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
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.
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