Yuri Milner, Moscow-based billionaire and founder of investment firm DST Global, has coughed up $75 million while purchasing a mega-mansion in Silicon Valley, California. Milner, who appears on the cover of the most recent issue of Forbes magazine, has invested in Facebook, Zynga and Groupon via his DST firm. He also built Mail.ru, a Russian Internet company which last year listed on the London Stock Exchange. Milner’s primary residence remains in Moscow, where he lives with his wife and two daughters.
Milner’s new home in Silicon Valley occupies 25,000 square feet and is located on an 11-acre estate. Located on a hilltop, the property boasts of five bedrooms, nine baths, a tennis court and its own carwash. The property was built in 2009 by ESS Technology founder Fred Chan who ultimately sold the property to Milner. The partly sunken first floor has two bedrooms, a game room, a security room, a maid’s room, an exercise room, a sauna and spa, an indoor pool, two three-car garages and a carwash. The second floor has additional bedrooms, two dining rooms and a living room.
It was the biggest price tag ever paid in Santa Clara County, an area known for its high-priced luxury properties. The sale was seen as a sign that the market in high-end properties on the West Coast is heating up. This valley attracts money and lifestyle. We’re definitely seeing a little surge, Michael Sibilia, president of the Santa Clara County Association of Realtors told the San Jose Mercury News. [Mercury News]
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