Brian Armstrong, the Coinbase CEO, has reportedly bought an estate in Bel Air in Los Angeles for $133 million, as reported by The Wall Street Journal. The estate was purchased from a company linked to Japanese entrepreneur Hideki Tomita.
Armstrong co-founded the cryptocurrency trading platform Coinbase in 2012.
The sale of the estate, which closed in December, marked one of the most expensive sales for a single-family house in Los Angeles, The Journal said.
The Japanese entrepreneur bought the Bel-Air home for $85 million in 2018 from the daughter of billionaire Charles Bronfman, who was an heir of the drinks company Seagram.
The estate is spread across nearly five acres, has a 19,000-square-foot mansion and a 6,600-square-foot, five-bedroom guest house. The mansion, designed by British architect John Pawson, has a theatre, spa, and gym, while the master suite included a hot tub and a fire pit, the Journal said.
Coinbase saw its stock take off after its direct listing in April, valuing Armstrong at $13 billion at the end of the company’s first day of trading. Armstrong’s net worth is currently $9.6 billion, according to Bloomberg’s Billionaires Index
