The new residence cost the Stanford dropout over $3 million, which was secured in an undercover off-market deal, sources confirmed with Variety. The 2,842 square feet home was purchased via blind trust, according to property records, and has recently undergone renovations.
The Spanish-inspired house is located in the well-to-do neighborhood of Brentwood, less than four miles away from Spiegel senior.
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Last year, Spiegel turned down a $3 billion cash offer from Facebook and Google's follow up bid of $4 billion.
Read the full story on Variety.