Even wildly successful entrepreneurs are sometimes forced to eat a big slice of humble financial pie. Take Craig Clemens, the founder of brand builder Golden Hippo Media, which specializes in health and wellness startups. Back in 2017, he paid $14.5 million for a wildly contemporary mansion above L.A.’s Sunset Strip. After nearly two years on the market, that same house has now been resold for just $11.6 million, a nearly $3 million loss before property taxes, closing costs, and nearly four years of upkeep.
Some of Clemens’ financial misfortune might be due to the property’s unusual history. The house was formerly occupied by Britney Spears, who rented the place during her relationship with Justin Timberlake. In 2003, the place was sold to troubled actress Brittany Murphy, who died shortly after collapsing on the premises in 2009 (her husband, Simon Monjack, also died inside the house just a few months later.) The estate was subsequently sold to a developer and given a down-to-the-studs remodel, resulting in the sexed-up behemoth currently on the lot, the one just sold for $11.6 million.
The discount-minded new owner is David Bernon, a partner at Burn Later Productions. The 31-year-old was born in Massachusetts and is the son of milk mogul Alan Bernon, whose family founded Garelick Farms, which was sold in 1997 for nearly $300 million. He’s also dabbled as an actor, and now as a producer (“Support the Girls, “Mile 22”).