CEO of Coinbase Bought an Estate in Bel Air L.A for $133 Million

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Brian Armstrong, CEO of Coinbase
Brian Armstrong, CEO of Coinbase

Brian Armstrong, the CEO of crypto exchange Coinbase has bought an estate in Bel Air in Los Angeles for a thrilling $133 million, according to a report by The Wall Street Journal.

Armstrong co-founded the cryptocurrency exchange platform Coinbase in 2012. Years later, the crypto exchange surged to become one of the largest exchanges in the blockchain industry. He purchased the estate from a company linked to Japanese entrepreneur Hideki Tomita, according to records published by The Journal. In December, the sale was disclosed, marking one of the most expensive sales for a single-family house in Los Angeles, The Journal added.

Tomita first bought the Bel Air home for $85 million in 2018. The estate was owned by the daughter of billionaire Charles Bronfman, owner of the drinks company Seagram, records by The Journal said.

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According to another report by The Journal in 2018, the estate is a 19,000-square-foot mansion with almost five acres and a 6,600-square-foot, five-bedroom guest house. The mansion, designed by British architect John Pawson, had a theatre, spa, and gym, while the master suite included a hot tub and a fire pit, The Journal said.

Coinbase saw its stock take off after its direct listing in April, valuing Armstrong at $13 billion at the end of the company’s first day of trading. Armstrong’s net worth is currently $9.6 billion, according to Bloomberg’s Billionaires Index.