Erik Voorhees, the CEO of ShapeShift, has reportedly acquired a mansion in Los Angeles that was previously owned by the late Lakers basketball legend Wilt Chamberlain. The purchase price for the estate is said to be $9.7 million.
Located in the upscale neighborhood of Bel Air, the mansion sits on a gated 2.5-acre hillside parcel and boasts a rich history. Constructed over five decades ago and known as “Ursa Major,” the property underwent significant renovations in 2008 under the ownership of Dmitri Novikov, who acquired it for $6.7 million at the time.
The mansion features a grand entrance with a stone walkway over a water feature, leading to a stunning great room with a 40-foot cathedral ceiling and a sunken conversation pit warmed by a fireplace. Other highlights include a gourmet kitchen with high-end appliances and a floating staircase leading to the master retreat on the second floor.
While the reported purchase price of $9.7 million is lower than the initial asking price of nearly $19 million, it still represents a profitable transaction for the previous owner. Voorhees’ acquisition of the property adds him to the list of crypto entrepreneurs investing in real estate in Bel Air, demonstrating a trend of industry leaders diversifying their assets amid the volatility of the crypto market.
Voorhees, whose estimated net worth was $30 million in August 2023 according to Bitkan data, joins other prominent figures like Coinbase CEO Brian Armstrong in making strategic real estate investments in the prestigious neighborhood.
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