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

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.