Amazon chief executive Jeff Bezos has bought a Beverly Hills mansion for $165 million (A$245m), setting a record for a Los Angeles-area home.
The world’s richest man, currently worth $131.9 billion (A$191bn), purchased the 36,422sq m property known as the Warner Estate, from media mogul David Geffen—who bought the property for $47.5 million (A$70m) in 1990.
The reported sum eclipses the $150 million (A$216 million) that Lachlan Murdoch paid in December for the Bel Air estate known as Chartwell which was used in the television show The Beverly Hillbillies.
The Warner Estate, designed in the 1930s, features a 1,200sq m colonial-style mansion, two guesthouses, a tennis court, a swimming pool, and a nine-hole golf course.
It also includes expansive terraces, sprawling gardens and a motor court that has a garage and gas pumps. The property is also surrounded by one of the tallest hedgerows in all of Beverly Hills.
The estate’s mansion was reportedly built with the wood floor that Napoleon was standing on when he proposed to Josephine.
Bezos has been strategically selling off his Amazon shares parting with $4.1 billion over the past 11 days.
Last August, Bezos sold about $2.8 billion worth of Amazon shares. He also sold large blocks of shares in 2017 and 2016.
The billionaire previously said he would sell close to $1 billion of Amazon stock a year to fund his space exploration company, Blue Origin.
He has also earmarked additional capital for the Day One Fund, the organisation he launched in September of 2018 to provide education in low-income communities and combat homelessness.
In Australia, Amazon recently launched its own crowdsourced delivery service in order to speed up deliveries, called Amazon Flex.
The delivery service will offer an Uber-like gig service, with private individuals delivering Amazon packages to customers across Sydney and Melbourne.
The tech giant has also partnered with the country's largest diversified developer Stockland to install parcel delivery lockers at malls across New South Wales and Victoria.
Amazon has also been researching drones with the aim of using them to deliver packages to customers in 30 minutes or less.