Tuesday, March 29, 2011
Russian Billionaire Yuri Milner Drops $70M on Sweet New Digs
In order for one to become a Russian billionaire, they make you take a test to determine whether you're committed to buying egregiously egregious real estate.
Shipping magnate Alexander Ponomarenko passed—he bought a Russian palace (from Prime Minister Putin's right-hand man) for $350M. As did Roman Abramovich—he owns more than 10 properties.
Now Yuri Milner, the billionaire founder of Moscow-based venture firm DST, has reportedly scooped up a 25,000-square-foot number in Silicon Valley for $70M. Apparently Milner has no real plans to relocate stateside, but as far as his portfolio goes, consider it seriously beefed up.
Source: Sarah Firshein, Curbed National