Beverly Hills Estate Changes Hands in Murdoch Clan for $30 Million (Report)
Rupert Murdoch unloads the massive estate to his son James.
There’s no such thing as a freebie in the Murdoch family.
Rupert Murdoch sold his Angelo Drive estate in the hills above Beverly Hills to son James Murdoch for $30 million. News of the amount was reported on Wednesday by the Los Angeles Times, citing public records.
The sale was first reported by The Hollywood Reporter in December, and it was around that time that the 21st Century Fox co-COO took ownership of the historic property, designed by Wallace Neff and built in 1926 for silent-film director Fred Niblo and actress Enid Bennett.
According to sources, James has been overseeing a minor redo of the estate, which is said to maintain the historic relevance of the massive property, once listed for $35 million.
James spends the majority of his time in New York where he lives with wife Kathryn and their three kids, but he’s been spending more time in L.A. since his Fox responsibilities expanded to include oversight of the domestic TV business.
Meanwhile, 83-year-old Rupert resides at his Moraga Vineyards estate in Bel Air, which he purchased for $28.8 million in August 2013.