Ex-Google CEO Eric Schmidt purchased high-end estate

According to the news portal Yahoo, Jay Paley Residence in Los Angeles, a historic building dating back to the 1930s, has been sold to Eric Schmidt, the Silicon Valley’s multi billionaire, ex-Google CEO and technology businessman. The cost is $61.5 million which is still a large amount for real estates in California’s city in 2021.

Eric Schmidt purchased the 2.6-acre spread from the estate of William Barron Hilton, who bought this house in the 1960s at the stated price of $475,000 and lived there for nearly 60 years. The New York Post reports that his granddaughter Paris Hilton used this house as a place for a 2000 Vanity Fair photoshoot which has improved her career development.

The property is located in a highly coveted place where the exclusive areas of Beverly Hills, Bel Air, Holmby Hills and Benedict Canyon converge.