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

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