Oakley founder offloads $210M California mansion, sets record
$210 million property has 9.5 acres of land
Oakley founder James Jannard reportedly set a new state record when he offloaded his massive beachfront home in Malibu, California.
Selling the mansion and its 9.5-acre property in a private transaction brought the eyewear and apparel mogul $210 million, the Los Angeles Times reported Tuesday.
The paper named Westside Estate Agency’s Kurt Rappaport. He did not respond to FOX Business’ request for comment.
The property reportedly went for $210 million. (Google Earth)
The Oakley founder, who has a net worth of $1.3 billion, per Forbes, had owned the Ferguson & Shamamian-designed mansion for over a decade prior to parting ways with it, the outlet reported. Oakley's performance eyewear is a favorite of endurance athletes around the globe.
A pair of Oakleys. (Luc Claessen/Getty Images)
The 15,000-square-foot home contains eight bedrooms, according to the Los Angeles Times. There are also reportedly two guest houses.
Architecture firm Ferguson & Shamamian has described the massive lot that the mansion sits on as "command[ing] spectacular views of the Pacific Ocean" from its perch on the "rugged cliffs" in northern Malibu.
Its $210 million sale price amounted to $135 million more than Jannard splashed out to buy it, the Times reported.
An Oakley store at Cancun International Airport in Mexico. (Artur Widak/NurPhoto via Getty Images)
Before that, California’s all-time sales record had belonged to an estate acquired by Beyonce and Jay-Z last year, according to the outlet. That mansion, also in Malibu, reportedly cost the couple $200 million.
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Beyonce and Jay-Z perform during the Global Citizen Festival: Mandela 100 at FNB Stadium in Johannesburg, South Africa, on Dec. 2, 2018. (Kevin Mazur/Getty Images for Global Citizen Festival: Mandela 100)
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In Malibu, homes had median asking prices of $6 million in May, according to Realtor.com. For sale prices, the median was $4.8 million.
A couple strolls along the beach at Paradise Cove, which is part private/part public, in Malibu, California, on Oct. 28, 2014. (Anne Cusack/Los Angeles Times via Getty Images)
Billionaires other than Jannard have been involved in real estate transactions in recent months.
Laurene Powell Jobs recently became the owner of a four-acre property in Malibu, with the acquisition reportedly costing her $94 million.
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In May, The Wall Street Journal reported New England Patriots owner Robert Kraft received $22.5 million from a buyer for an apartment he owned in the Plaza Hotel in New York City.