French billionaire Bernard Arnault flips Beverly Hills mansion to himself
Chairman of LVMH sells, buys Trousdale Estates home through affiliates
The third richest man in the world has sold a Beverly Hills mansion for $84.5 million––to himself.
An affiliate of French business magnate Bernard Arnault sold a single-story mansion in Trousdale Estates to another affiliate set up by his attorney, Dirt.com reported. The home was never publicly listed.
The billionaire investor sold the property through a limited liability company to another LLC set up by the lawyer in December, with a mortgage secured by a Paris bank known to have a longstanding relationship with Arnault, his family and his businesses.
Transfer taxes were paid on the deal, and they confirm the sale of $84.5 million
Located on a steep ridge in the Trousdale neighborhood, the contemporary mansion was custom-designed for Arnault by Marmol Radziner, an architecture firm based in Sawtelle.
Archived permits reveal the single-story house is likely larger than 10,000 square feet, but was built with only three bedrooms, according to Dirt.
In addition to two guest suites, there’s a giant master bedroom with two bathrooms, a separate sauna and wellness center, a dressing room and private sitting room. Out back, an infinity-edged swimming pool is shaped like a frying pan.
Views take in the Los Angeles skyline, from DTLA skyscrapers to the Pacific Ocean and Catalina Island.
Because the property was never offered for sale, there are no public photos or many further details. In 2016, Arnault paid $32.5 million for the then-vacant lot. The two-parcel property spans nearly two acres, though much of that land is unusable hillside.
Arnault also owns the property next door, on which he’s building another contemporary mansion. He also has construction projects in the Bird Streets and Beverly Hills Post Office neighborhoods. And through various LVMH holding companies, he owns a massive chunk of Beverly Hills’ famed Rodeo Drive. In December, LVMH bought the Luxe Hotel for $200 million.
The 73-year-old real estate developer and business mogul is the richest man in Europe and third-richest in the world, worth $141 billion, according to Forbes. He oversees the LVMH empire of some 75 fashion and cosmetics brands, including Louis Vuitton and Sephora.
In January 2021, LVMH acquired American jeweler Tiffany & Co for $15.8 billion, believed to be the biggest luxury brand acquisition ever.
[Dirt.com] – Dana Bartholomew