Marc Andreessen, the billionaire investor, has made history by purchasing the most expensive home ever in California. Located in Malibu, this single-family residence sits on a sprawling 7-acre property. The property boasts a stunning view and is estimated to be around 10,000 square feet in size. It was sold by Serge Azria and brokered by Kurt Rappaport from WEA Homes.

Summary of transaction details

• Property Type: Single Family Residence (SFR)
• Transaction Amount: $177,000,000
• Market: Malibu
• Acreage: 7 acres

This remarkable purchase surpasses the previous record set by Jeff Bezos, who acquired the Warner Estate for $165 million. The property's asking price was $218,000,000, meaning Andreessen negotiated a significant discount. With a price per square foot of $17,700, this sale showcases the exorbitant value placed on this prestigious home.

In 2013, the property was last sold for $41,000,000, making the recent sale more than quadruple the previous transaction value. Marc Andreessen's acquisition reinforces his status as a prominent investor and underlines the allure of luxury real estate in California.