Billionaire lists LA mansion with $130m price hike after two years

Billionaire George Ruan, who co-founded the online coupon company Honey, snapped up a Bel-Air mansion in 2020 for $87 million (USD $60 million). He’s now listed the same property for a whopping $218 million (USD $150 million), just two years late having never lived in it.

Records show he bought it unfinished, spending the last two years completing a major renovation of the mega mansion, which explains the $130 million (USD $90 million) price hike.

If Ruan’s price expectations are met, the sale will join the ranks of Southern California’s most expensive deals.

At USD $150 million, it’s the third-priciest property on the market in Los Angeles County, behind Michael Eisner’s $225 million compound in Malibu and the $165 million mansion, known as the Manor, in Holmby Hills, according to LA Times.

Architecturally designed as a collaboration between South African firm Saota and LA’s Woods + Dangaran, the estate sits perched on a 1.15-acre promontory lot, taking in 360-degree views of LA.

Clad in concrete, the home is an exercise in clean lines and minimalist spaces across two sprawling stories, with extensive use of glass and warm woods.

The nine-bedroom, 14-bathroom property “redefines luxury living”, according to the listing.

There is a chef’s kitchen featuring Miele and Gaggenau appliances, top quality finishes, and honed quartzite countertops, while the impressive primary suite makes use of dramatic walls of glass opening to the expansive terrace with sweeping views of LA.

But the jewel of the home is the outdoor entertaining area, complete with outdoor kitchen, multiple cabana areas and sunken fire pit. An infinity pool enjoys views of the canyons below.

Of course, there’s a separate one-bed guest house with gym and its own private pool, as well as separate staff quarters.

For the full listing, click here.