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Meet man who owns biggest modern home in US worth Rs 1045 crore, runs Rs 11620 crore company, he is...
Fashion Nova CEO Richard Saghian bought the famous Bel Air mansion "The One" for $141 million.
Updated : Sep 10, 2024, 06:24 AM IST
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Richard Saghian who is the founder and CEO of Fashion Nova, has made headlines by purchasing a famous Los Angeles mega-mansion known as "The One" for $126 million. This massive estate, located in the upscale neighborhood of Bel Air, is renowned as the largest modern home in the United States. Spanning an incredible 105,000 square feet, the house was originally listed at $295 million.
Saghian, who has a passion for real estate, will actually end up paying around $141 million for the property, as reported by The Los Angeles Times. This higher amount includes a 12% auction fee on top of the initial $126 million price.
In a statement shared with Insider, Saghian expressed his excitement about acquiring the unique property, saying, "'The One' Bel-Air is a once-in-a-lifetime property that can never be duplicated. There is nothing else like it. As a lifelong Angeleno and avid collector of real estate, I recognized this as a rare opportunity that also lets me own a unique property that is destined to be a part of Los Angeles history."
Saghian's purchase of "The One" not only adds to his real estate portfolio but also cements his status as a significant figure in Los Angeles, particularly in the world of luxury property ownership.
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