2019, Riaz Varani just paid $40 million Luxurious and decidedly idiosyncratic estate in Point Dume, Malibu. Owned by television legend Johnny Carson for decades, Varani is owned by Hard Rock Cafe co-founder Isaac He is the daughter of Tigret and Ringo Starr’s ex-wife Maureen Starkey and longtime partner Augusta. He shares his compound with Tigret and Blufftop.
Although he’s not a household name, Valani is a billionaire and worth $1.8 billion. According to ForbesHe was also the first to invest in Juul, an e-cigarette maker with a market capitalization of $38 billion in its heyday.Marlboro parent company Altria paid an astronomical $12.8 billion Valani reportedly received 35% of Juuls in 2018. cool 2 billion dollars pay for everything yourself.
So it’s perhaps not surprising that Valani shelled out another $31 million to purchase an equally gorgeous Malibu property. The sellers were Michael and Jody Price. He is a wealthy hedge fund mogul, imperial capitalPrice bought the home for $19.8 million in 2016 and appears to have made very few changes before selling it to Varani.
The deal was actually signed last summer, but has not been reported until now because the transfer was completely off-market and lacked the publicity and fanfare normally associated with these ultra-high-end deals.
Records indicate that the property may be for Badru and Semin Valani, Valani’s parents, veteran investors in their 70s who have lived in Silicon Valley for many years. Varani owns a relatively modest residence with his parents in leafy Atherton, a Bay Area town known to be home to many of the tech industry’s richest entrepreneurs.
As for Varani’s latest Malibu acquisition, it’s tucked away within a little-known gated community, with oceanfront homes that offer endless whitewater views and easy access to one of the city’s least crowded beaches. Built in 1955 but completely rebuilt and expanded, the 0.73-acre site consists of two separate buildings. Overall, there are 6 beds and 4 baths in approximately 5,000 square feet of living space.
Fully automated with the latest smart home technology, the main house features an ocean view living room, fireplace dining room, and kitchen with eat-in Caesarstone Island. Upstairs, the master suite has even more ocean views, a deep soaking tub and expansive cedar closet, while the second large bedroom has a private deck and outdoor shower. Glass walls and hardwood floors flow throughout the structure.
The guest house is packed with a media room, kitchenette and attached 2 car garage. All three bedrooms also feature sea views and wooden decks. And in the back, a flat grassy lawn sits right above the sandy beach, along with a combined pool and spa. There are also multiple sitting and outdoor dining areas, perfect for entertaining large groups.
In recent years, Juul has faced increasing regulatory pressure from the FDA, particularly with accusations that its tobacco products are marketed to children and young adults. The company recently settled several major lawsuits It was brought in by state officials in connection with questionable marketing practices and faced bankruptcy earlier this year. Secure new funding From Valani and Hyatt Hotels heiress Nicholas Pritzker. However, the terms of that cash injection were not disclosed.