![]() Over the last five years, Acton has spent a mind-bending collective total of $86.25 million on seven Palo Alto houses, many of them fairly modest abodes and all located on the same discreet Professorville block. And the $30 million teardown is only one small part of his multi-pronged Palo Alto real estate story. Behind the trust is a 47-year-old man named Brian Acton, a very non-developer billionaire. As it turns out, however, that wasn’t the case, though the buyer did indeed demolish the home. Some observers speculated that the mysterious buyer - listed in records only as the “Jones Family Trust” - was a developer looking to raze the mansion and subdivide the. This in a city home to a slew of Forbes-listed billionaires, including Facebook’s Mark Zuckerberg, Google’s Larry Page and Emerson Collective’s Laurene Powell Jobs. At least one randy naysayer even suggested the recorded price might be a typo, courtesy of a sloshed deputy assessor.īut records confirm the house actually did transfer for the aforementioned $30 million, an amount that remains the most ever paid for a Palo Alto residential property. The 7,550-square-foot structure, while large and attractive, had been last assessed at a mere $1.5 million and is located in leafy Professorville, a quiet neighborhood near Stanford University not known for excessive displays of wealth. ![]() When a house in the charming Silicon Valley town of Palo Alto sold for a record-tying $30 million back in 2017, many local real estate professionals expressed shock over the price. ![]()
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