Richard Saghian is best known as the fashion mogul behind Fashion Nova, but he’s also snapped up pricey real estate.
Within a year, he bought a $40 million home on Malibu’s “Billionaire’s Beach” and shelled out $126 million for the biggest modern home in the US.
Here’s a look at his life and career.
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Richard Saghian is best known as the founder and CEO of fast-fashion company Fashion Nova, but he’s also racked up some record-breaking real estate.
The billionaire exec has shelled out $40 million for a 6,000-square-foot home on Malibu’s exclusive “Billionaire’s Beach,” The Real Deal reported.
Less than a year prior, Saghian bid $126 million at auction for a Los Angeles megamansion. Nicknamed “The One,” the 105,000-square-foot property is considered the biggest modern home in the US. Taking into account the auction premium and commission fees, he ended up paying closer to $141 million for the home.
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“‘The One’ Bel-Air is a once in a lifetime property that can never be duplicated,” Saghian said in a statement sent to Business Insider at the time. “There is nothing else like it. As a lifelong Angeleno and avid collector of real estate, I recognized this as a rare opportunity that also lets me own a unique property that is destined to be a part of Los Angeles history.”
Here’s a look at Saghian’s life and career:
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Publish date : 2024-09-03 04:33:00
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