Even the ultra wealthy are having a hard time in today’s housing market. Snapchat’s co-founder and billionaire CEO Evan Spiegel is a great example: He sold his Los Angeles mansion this month, but it took a major price cut for someone to snap up the property.
Spiegel, who is worth an estimated $3.1 billion, and his Australian model wife Miranda Kerr, put the Brentwood property on the market back in March at $19.95 million. Then a few months later in July, the price dropped to $17.75 million, according to listing records. But the 7,000-square-foot home ended up selling at $16.1 million, nearly $4 million less than what the couple had bargained for. The property closed on Sept. 18, according to listing records.
