Media tycoon Rupert Murdoch has sold his Beverly Hills estate for $30 million.
According to the LA Times, James Murdoch, Rupert's youngest son, was identified by New York In Exile as the buyer and subsequently new owner of the property.
Spanning 8,651-square feet within a 3.3 acre property, the home has two stories made up of 11 bedrooms and nine bathrooms. Other amenities in the property include a motorcourt, massive lawn and a swimming pool.
The property was designed by Wallace Neff and built in 1926 for the estate's first owner, Fred Niblo, a director and silent-film actor and his wife Australian actress Enid Bennett. The home was then purchased by MCA founder Jules Stein who eventually sold the estate to Rupert Murdoch, the third owner.
NY in Exile reports that following the purchase, the home's fourth owner is already making plans to make the property his own. "According to sources, 41-year-old James already has commissioned contractors and an interior designer for a minor redo, which will maintain the historic relevance of the sprawling property (once listed for $35 million) while giving it an updated look," reported by the blog.
The LA Times notes that Murdoch received a number of offers on the luxurious property including a supposed offer from "The Wolf of Wall Street" actor Leonardo DiCaprio. Due to the volume of interest, the listing which was posted at $35 million was eventually withdrawn.
The Business Insider notes that the sale comes after the News Corp chief executive purchased Moraga Vineyards in Bel Air for $28.8 million in 2013.
The Murdoch family is used to living in luxury as the publication reports that Rupert's older son Lachlan and his wife Sarah currently own and reside in the former French Embassy, Le Manoir, in Bellevue Hill. The couple made the high end purchase in 2009 for $23 million. A few months back, Lachlan and Sarah sold their previous home, Bronte home at a price of $10 million.
James Murdoch is currently chief operating officer of 21th Century Fox. The Hollywood Reporter details that while he, his wife Kathrynand three children are based in New York, his increasing responsibility with Fox has required he spend more time in the greater Los Angeles area.
The 83-year-old Rupert Murdoch is an Australian-American business magnate in the field of media and journalism. Rupert Mordoch's media empire has recently come under fire after a phone hacking scandal involving his outlets was revealed.
