Snapchat's Evan Spiegel Spends $100+ Million to Buy Unfinished Holmby Hills Estate

As Snap, Inc.’s stock price has skyrocketed over the past year, nearly all of the social media company’s top executives have spent lavishly on big new homes. The chief business officer bought a house, the chief strategy officer bought a house, and a cofounder added another house to his collection. Even the firm’s top lawyer got in on the real estate action.Now the longtime CEO is having his turn. Earlier this year, Evan Spiegel forked over $30.4 million for a baroque estate in Paris, France, where the 31-year-old and his wife Miranda Kerr live part-time. The couple’s main residence remains Los Angeles; the pair have bunked up in a celeb-pedigreed Brentwood estate for the past five years, but it seems that place can no longer accommodate the growing family’s needs. And so Spiegel is spending north of $100 million to buy a titanic — and currently unfinished — compound in Holmby Hills, one of the most prestigious neighborhoods in Los Angeles. With a net worth of $14 billion, he can well afford it.The complicated transaction involves two side-by-side properties across the street from the Playboy Mansion, both of them sold by English billionaire Ian Livingstone. Totaling about four acres of…
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