Take A Look Around This $94 Million LA Estate, Bought By Saudi Businessman Fawaz Alhokair
Twenty-one bathrooms, 12 bedrooms, a giant candy dispenser wall, a James Bond-themed theatre, a four-lane bowling alley, a rooftop helipad, and an underground car museum. Just a few of the features at Saudi billionaire retail tycoon Fawaz Alhokair’s new Los Angeles mega-mansion.
Dubbed ‘Billionaire’, the Bel Air-based property first came up for sale four years ago for a staggering $250 million, making it the most expensive home listing in the US at the time. In knocking a hefty $156m off the asking price, you could almost say that Alhokair has nabbed himself a bargain. Almost.
So, what else does $94m get you for your money? Spread over 38,000 square feet of living space, the jaw-dropping crib boasts putting greens, an indoor wellness suite, two wine cellars, two infinity pools – one with a swim-up bar – and a $2 million outdoor retractable theatre screen. It has two crocodile skin-lined elevators and fire extinguishers filled with Dom Pérignon. And then there’s that Pacific Ocean view.
If you’re curious how Alhokair came to afford a $94m Bel Air mansion, the man made his billions through Fawaz Abdulaziz Alhokair Group, which he set up with his brothers. The company boasts 19 shopping malls in Saudi Arabia, and owns the local franchise rights to brands like Zara, Banana Republic, Gap, Nine West and Topshop.
Despite being easily one of the biggest amounts of money ever paid for an LA estate, this is actually Alhokair’s second home. His first purchase was a top-floor penthouse at New York’s 432 Park Avenue – the Manhattan skyscraper that was previously America’s tallest residential building – which he nabbed for a cool $87.7m back in 2016.
Despite his vast fortune, Alhokair didn’t buy either property outright. He took out a $56 million loan to finance the New York penthouse purchase, and a $58 million loan for his Bel Air pad; one of the largest loans ever for a US home.
He’s not the first billionaire to do so – the likes of Beyonce and Jay Z and Elon Musk have taken out similar loans. Still, with a mega-mortgage like that, we can only imagine how good his credit rating is.