Friday, April 12, 2024

CEO of crypto firm buys $133 million home in Los Angeles

Brian Armstrong, the CEO of crypto exchange Coinbase, recently purchased an ultra-luxury home worth $133 million in Los Angeles. Armstrong’s net worth right now is around $9.6 billion, and his journey to becoming one of the world’s biggest crypto entrepreneurs since he co-founded Coinbase in 2012 has been nothing short of remarkable.

The deal for Armstrong’s brand new home was closed in December 2021, and it became one of the USA’s biggest single-family real estate sales in the year. The mansion, which occupies around 19,600 square feet on a whopping 4.6 acres of land, was previously owned by Hideki Tomita, a Japanese businessman.

Tomita had purchased the mansion for $85 million back in 2018, and the Japanese businessman saw the property’s value skyrocket, particularly during the November 2021 – November 2022 period. During this period, almost all of LA’s real estate experienced a steep jump in value. Tomita didn’t want to create too much noise about the sale of the property to Armstrong, which is why he got the deal done through a limited liability company.

The estate’s design was completed in 2009 by John Pawson, a British architect. It consists of not just the mansion but a separate guest house as well. The property boasts a minimalist style and looks like cubes that have been stacked on top of each other.

Before co-founding Coinbase, Armstrong had worked for multinational corporations such as Deloitte and IBM. Since he started Coinbase, he has mostly kept a low profile. However, he is notorious for keeping politics out of the workplace. In 2020, a blog post written by Armstrong made the news, which said that political activism and discussions are discouraged by the company.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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