Peter Thiel acquires Bel-Air mega-mansion for $130 million

Billionaire venture capitalist and PayPal co-founder Peter Thiel has purchased Casa Encantada, a historic 40,000-square-foot estate in Bel-Air, Los Angeles, for $130 million. The acquisition was made through a limited liability company during a foreclosure auction held in July at the Pomona Civic Center Plaza.

The sale marks one of the most expensive residential transactions in Los Angeles this year. The property, which sits on approximately 8.5 acres, was previously owned by the late businessman Gary Winnick. Before the auction, the estate had been listed for significantly higher amounts, including $225 million in 2019 and $250 million in 2023.

Built in 1938, the estate features seven bedrooms, 20 bathrooms, and various luxury amenities including a 60-foot tiled pool and extensive gardens. Sources indicate that Thiel views the property as an investment and intends to renovate the estate rather than use it as a primary residence.