Tech innovator, entrepreneur and philanthropist, Bill Gates and his wife Melinda, two of the wealthiest people on the planet, have purchased an oceanfront home in Del Mar, near San Diego for $43 million, in a deal that was one of the biggest the areas has ever seen.
The transaction, which was first reported in the Wall Street Journal, closed in late March. The seller was businesswoman, philanthropist and thoroughbred horse breeder Madeleine Pickens, former wife of Texan oil, gas and financial magnate, T. Boone Pickens, who died last year. Pickens purchased the property in 2007 for a reported $48.15 million, which means she took a whopping $5 million loss, not counting carrying costs, improvement expenses and real estate fees that easily climbed to over a million bucks.
Put on the open market earlier this year at an eye-grabbing $48 million, the compound’s multiple structures include an approximately 5,800-square-foot main residence with six bedrooms and four bathrooms, plus two guesthouses. There’s also a health spa, a theater, a mosaic-tiled pool, a 10-person jacuzzi and a tennis court. The home was constructed in 1999 by architect/designer Ken Ronchetti and enjoys a prime location with 120 feet of direct ocean frontage.
According to marketing materials, “everywhere, there is an interplay of the finest woods and stone, including mahogany and clear fir cabinetry and lattice ceilings. Imported limestone flooring, classic oak sandstone patios, and Getty stone accents impart unparalleled luxury and artistry.” Other features include radiant floor heating, automated security, lighting, climate control systems and a keyless entry system extending to the sea wall that was, “designed in conjunction with oceanographic engineers from Scripps Institute.”
Of course, the Gates’ need another home about as much as a fish needs a bicycle. Their main residence is a high-tech waterfront compound in Medina, Wash., and they also own an equestrian estate in Rancho Santa Fe, Calif., they bought in 2014 from weight loss guru Jenny Craig for $18 million. The Gates additionally maintain an equestrian estate in Wellington, Fla. that they purchased in 2013 for $8.7 million, and a mini-mansion in Hobe Sound, Fla. they scooped up in 2009 for for $5 million. Their daughter, Jennifer, was gifted a Westchester horse farm upon graduating from Stanford University in 2018 and, lucky her, a $5 million N.Y.C. condo shortly after.