Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Tuesday, March 26, 2019

The Late Paul Allen's Homes and Yacht Worth at Least $906 Million

MercerThe late co-founder of Vulcan, Paul Allen, had a cache of property that stretched from Hawaii all the way across the Atlantic to France. His $130 million superyacht Octopus may not be a home, but it included amenities beyond that of even some luxury mansions, including a basketball court and a recording studio. Instead of buying a home in the prestigious Seattle neighborhood of Medina that boasts as residents both Bill Gates and Jeff Bezos, Allen bought property and built a large compound, worth another $130 million, in the "more suburban Mercer Island." Allen specifically asked the compound designer to not make it look pretentious.

Allen's estate is in the hands of a trust he created in 1993, which names his sister Jody and her children as its beneficiaries. Besides the Mercer Island compound and Octopus, the estate also holds the title to a collection of properties in Beverly Hills worth $200 million, a $150-million estate on Lopez Island in the San Juan Islands that totals 387 acres with a 13,000 square foot mansion, a $100 million, 18-bedroom mansion in Cap Ferrat in the south of France called Villa Maryland, a New York penthouse above another apartment with a combined worth of $50 million, a 10.3 acre compound on the island of Hawaii with the land alone worth $50 million, a ranch in Idaho worth upwards of $50 million, a $30 million mansion in Silicon Valley, an estate in Santa Fe, New Mexico worth $15 million, and a condo in Portland worth an estimated $850,000.

See Marc Stiles, Paul Allen's Homes and Yacht Worth at Least $906 Million, Business Journals, March 18, 2019.

Special thanks to Joel C. Dobris (Professor of Law, UC Davis School of Law) for bringing this article to my attention.

https://lawprofessors.typepad.com/trusts_estates_prof/2019/03/the-late-paul-allens-homes-and-yacht-worth-at-least-906-million.html

Current Affairs, Current Events, Estate Administration, Estate Planning - Generally, Non-Probate Assets, Trusts | Permalink

Comments

Had Paul Allen owned only a modest home like one Warren Buffett has in Nebraska, now that would truly have been "pretentious!"

Posted by: Joseph W. Mooney III | Mar 27, 2019 6:42:41 AM

Post a comment