Peter Thiel, the prominent tech entrepreneur, has been identified as the new proprietor of the historic Casa Encantada estate in Bel-Air, which sold discreetly in July for an impressive $130 million.
This 1938 mansion was auctioned off during a public foreclosure event in Pomona, with the identity of the purchaser kept confidential for several months. According to the Wall Street Journal, which first disclosed the buyer’s name, the winning bid was made by a limited liability company associated with Thiel, who is known for his roles as a co-founder of PayPal and Palantir.
The sale of this expansive 40,000 square foot estate marks the highest property transaction in Los Angeles for the year, although it falls significantly short of previous asking prices. The late telecommunications magnate Gary Winnick, the estate’s former owner, had initially listed the property for $225 million in 2019 and later raised the asking price to $250 million in 2023, positioning it as the most expensive residence in the country at that time. Winnick passed away in 2023, leaving behind substantial financial obligations.
Situated on approximately 8.4 acres, the luxurious estate overlooks the Bel-Air Country Club and features opulent Art Deco-style interiors. It includes seven bedrooms, 20 bathrooms, various dining and lounge areas, a walnut-paneled library, a tennis court, terraced gardens, a 60-foot tiled swimming pool, and a two-story guest house.
Notable previous owners of the property include hotel tycoon Conrad Hilton, who acquired it in 1950, and billionaire David Murdock, who purchased it in 1980 for a record-breaking $12.4 million. The estate set another price record in 2000 when it sold to Winnick for $94 million.
As reported by the Journal, Thiel had been contemplating the purchase of the mansion for several months prior to the auction but does not intend to reside there. Instead, he views the estate as an investment opportunity and plans to enhance its features. This acquisition further expands his extensive real estate holdings, which encompass properties across three continents, including estates in Hawaii and New Zealand, residences in Miami and Washington D.C., and a recently purchased mansion in Buenos Aires’ most prestigious area. Last year, Thiel is said to have moved his primary residence from California to South Florida amid discussions regarding a wealth tax in California.
