Celebrity Homes For Sale: Billionaire Ted Waitt Sells His La Jolla Home For $22.9M

Theodore "Ted" Waitt, an American billionaire philanthropist, is selling his real estate located in La Jolla for $22.9 million. It can be recalled that Waitt, co-founder of Gateway Inc., has recently purchased a house in Beverly Hills and listed another property somewhere in Hollywood Hills West, a report from Los Angeles Times said on Wednesday.

According to the report, Waitt's luxurious mansion in La Jolla was actually built in 1996. The house can be best described as a "traditional-style" residence. The whole property sits in about three acres of lot that has a resemblance of a park-like grounds. The house has "tennis court, a swimming pool and spa, a rock-climbing arch and a skateboard park. A private lake has a small dock and an island."

"Clad in dark wood and stone finishes, the 14,252 square feet of space includes living, dining and family rooms, a gourmet kitchen, a library, a home theater, seven bedrooms and 14 bathrooms. A separate guesthouse features a gym, a contemporary wood-paneled office and a two-story recreation room. Custom lighting, mirrored ceilings and a wet bar highlight a disco lounge. Elsewhere on the grounds is garage parking for as many as seven cars," the report said.

Citing public records, Waitt has reportedly purchased the whole property back in 2005 for $13.32 million. The sale transaction is being handled by listing agent Greg Noonan of Berkshire Hathaway HomeServices California Properties.

Real estate agents claim that the billionaire philanthropist has bought another real estate property in Beverly Hills last July. Waitt has reportedly paid for a Gerard Colcord-designed residence for $10.3 million. Waitt is planning to destroy and develop the property, according to sources who are privy of the sale.

"Waitt has become one of America's 50 most generous philanthropists. His Waitt Foundation funds partnerships and jobs, occasionally in conjunction or cooperation using the Waitt Institutes, that seek a more profound comprehension of human history and boost humanity's knowledge through historic and scientific investigation. His net worth is $1.7 Billion Dollars," according to Richest Celebrities.