Real Estate
Billionaire's Malibu Home Sells for Record $75 Million
The 9.5-acre estate in Malibu boasts eight bedrooms and 14 bathrooms.
Billionaire investment manager Howard Marks 9.5-acre Malibu estate has been sold for up to $75 million to a Russian billionaire couple, according to reports.
The sale of the home, which boasts 300 feet of beach, eight bedrooms and 14 bathrooms, was made in an off-market deal, the Wall Street Journal reported.
Marks and his wife Nancy purchased the home in 2002 for $31 million from Herbalife Founder Mark Hughes, according to the WSJ.
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The $75 million sale price is among the highest ever paid in the United States for a home, and the most expensive Malibu real estate transaction.
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