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Billionaire cofounder of WhatsApp adds $100 m Malibu mansion to portfolio

The Property Addict / Luxury Lifestyle

United States of America

Sep 19 2019

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According to a Variety report by James McClain, Jan Koum, the billionaire cofounder of WhatsApp, has been revealed as the buyer of a $US100 million Malibu mansion.

The mansion was sold, according to McClain, by Ron Meyer, the vice chairman of NBCUniversal. It was listed for $US125 million.

McClain reported that the purchase is the seventh time a home has ever sold for $US100 million or more in California.

The mansion fell just $US10 million short of matching the price of the most expensive home ever sold in Malibu, according to The Wall Street Journal. Back in 2018, Peter Morton, the cofounder of Hard Rock Cafe, sold his Malibu mansion for $US110 million to billionaire Michael S. Smith and his wife.

Koum’s new home includes, along with other amenities, two guest houses, a tennis court, a spa house, a two-story library, a theatre, a gym, and a pool.

Read more: The billionaire cofounder of WhatsApp has reportedly spent $US80 million assembling what may be the most expensive compound in America’s richest town

Koum is a familiar face in the world of California real estate. In June, it was reported that he has spent around $US80 million buying and constructing what may just be the most expensive property in America’s richest town, Atherton, California.

Along with the compound, Variety has reported that he also owns a roughly $US8.5 million home in Atherton, about a mile away from the compound, and a $US5.5 million mansion in Hillsborough, a town in California.

As Business Insider’s Alex Heath and Madeline Stone previously reported, Koum’s rise to wealth in Silicon Valley is something of a rags-to-riches story: He grew up without water in Soviet-era Ukraine and emigrated to the US at age 16. He dropped out of San Jose State University and went on to work at Yahoo for nine years before founding WhatsApp.

Koum sold WhatsApp to Facebook for $US19 billion in 2014 and joined the company’s board of directors. After the deal, he sold over $US7.1 billion worth of Facebook shares and was living the good life in Silicon Valley “resting and vesting,” a term used to describe engineers who have small workloads and high-priced stocks.

In 2018, he announced his departure from Facebook, saying in a blog post that he wanted to spend time growing his Porsche collection and playing Ultimate Frisbee.

According to Forbes, Koum now has a net worth of $US10.1 billion.

 

SOURCE: Business Insider

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