Coinbase Chief Brian Armstrong Purchased Luxury $133M Estate in LA

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Cryp­tocur­ren­cy exec­u­tives are tap­ping the real-estate mar­ket. The lat­est one to do so is none oth­er than Coinbase’s Bri­an Arm­strong, who just bought a lav­ish Bel-Air prop­er­ty from Japan­ese entre­pre­neur Hide­ki Tomi­ta that was pre­vi­ous­ly owned by Sea­gram Heiress Ellen Bronfman.

Brian Armstrong’s Costly Affair in LA

Accord­ing to a report by The Wall Street Jour­nal, Arm­strong pur­chased a mas­sive $133 mil­lion Los Ange­les estate. The deal was closed in Decem­ber last year, and sev­er­al reports claim that it was one of the costli­est “sin­gle-fam­i­ly home” sales ever com­plet­ed in the Los Ange­les area. The Coin­base exec’s lux­u­ry estate was bought from a com­pa­ny linked to Hide­ki Tomi­ta, the Japan­ese founder of Dip Corporation.

Designed by inter­na­tion­al­ly acclaimed Eng­lish archi­tect John Paw­son, the near­ly-five-acre prop­er­ty was nev­er offi­cial­ly on the mar­ket. Instead, it was a pri­vate affair. Even the buy­er wasn’t known up until very recent­ly. Inter­est­ing­ly, the Japan­ese entre­pre­neur had orig­i­nal­ly bought the real estate for $85 mil­lion four years ago.

The orig­i­nal own­ers were Sea­gram heiress Ellen Bronf­man Haupt­man, a daugh­ter of bil­lion­aire Charles Bronf­man, and her investor hus­band, Andrew Haupt­man. Hence, it was a big score for Tomita.

Besides, the estate includes a 19,000-square-foot main and a guest man­sion that spans 6,600-square-foot in addi­tion to a ten­nis court, two pools, a motor court as well as oth­er ameni­ties such as a home the­ater and a gym.

Fun fact: Armstrong’s lat­est abode hap­pens to be the only Paw­son-designed house in LA.

The Man Behind Coinbase

The 38-year-old founder of Coin­base helped the exchange go pub­lic last year, mak­ing it the first plat­form ded­i­cat­ed entire­ly to cryp­tocur­ren­cy to for­ay into the US stock exchange. After April’s direct list­ing, Arm­strong has seen a con­sid­er­able leap in terms of his net worth. Accord­ing to Bloomberg’s Bil­lion­aires Index, the exec’s net worth cur­rent­ly stands at $9.6 billion.

With his lat­est pur­chase, Arm­strong joins the list of his con­tem­po­raries, such as Binance’s Chang­peng ‘CZ’ Zhao, who pur­chased his first home in Dubai in Octo­ber last year.

Fea­tured Image Cour­tesy of Fortune

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