New Russian Billionaire Pays $100Million for Palo Alto Diggs!

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Real Estate Agent with Platinum Real Estate 01458057

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 Are these tough times?  You’d never know by the increased # of Billionaires being produced in this…said to be the worst economy of all time.  Gives me hope!

I guess this gives credence that up or down…it’s always a good time to get rich!  This is an amazing story…the funny thing is, there may be a billionaire that paid more than this Russian did for a home…imagine $200Million?  I guess the sky’s the limit!  Read on…and thanks to Forbes.com

My colleague Eric Savitz reported last week that tech investor, newly minted billionaire and FORBES cover subject Yuri Milner has bought a 25,000-square foot, 11 acre Silicon Valley mansion for about $75 million. Since then, reports have surfaced estimating the price tag at closer to $100 million. Click on the slideshow above to see inside the massive home, designed by architect Bill Hablinski for software pioneer Fred Chan and described as a ‘Palo Alto Loire Chateau’. FromHablinski’s online portfolio:

Set on a spectacular 18-acre hilltop site with panoramic views of the San Francisco Bay, this classical estate inspired by 18th-century French chateaux is organized around a central entry court enclosing a formal entrance on three sides. The north wing is designed for entertaining on a grand scale, with a ballroom, formal dining room, home theater, wine cellar and spa/gym, while the south wing houses family rooms and bedroom suites. The living areas are all located on the second floor to take advantage of the dramatic Bay views.

Some outlets are describing Milner’s new pad as the most expensive single-family dwelling in the country. Debatable.  Based on current value, that honor likely goes to Humvee billionaire Ira Rennert’s 43,031 square foot Hamptons compound. There’s discrepancy over what he originally paid for the 29-bedroom estate, but based on the taxes he pays on the property, it’s worth about $200 million today.

 

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