Villa Leopolda Sold For $750 Million To Russian Oligarch (PHOTOS)

A mysterious Russian billionaire has made an unprecedented splash in the real estate market along the French Riviera this week, buying the Villa Leopolda, Fox News reports:

A mysterious Russian billionaire has trumped his big-spending rivals and broken a world record by splashing out $750 million on one of the most sumptuous villas on the French Riviera.

The price of the Villa Leopolda, a Belle Apoque mansion on the heights of Villefrance, has amazed estate agents but fuelled local worries that the invasion of Russian money on the Cote d'Azur is getting out of hand.

Since the early 1990s, Russian oligarchs, drawn by memories of the Riviera-mad old Russian aristocracy, have been piling into seaside properties at Cap Ferrat, Cap d'Antibes, Saint-Tropez and the other great playgrounds.

TimesOnline reports that the seller of the villa had the steel nerve required to wait for the astronomical bid for Villa Leopolda:

Mrs Safra was said to have held out for months as the buyer raised his bid for the villa, between Nice and Monaco, which King Leopold II of Belgium acquired in 1902.

The previous record for a house was said to be the £57 million that Lakshmi Mittal, the steel tycoon, paid for a property in Kensington Palace Gardens in 2004. The macho spending contest by Russian oligarchs is making property agents giddy.

Jean Pierre, a high-end agent, said: "It's completely surreal and we are really uneasy. We don't dare any more to propose any price below €100 million for these clients. Anything below and they throw you out...and you should see how they do it," he told Le Parisien. The Nice Matin newspaper said: "At this price tag, we are beyond luxury and even reality."

PHOTOS:

From flickr user pmo

From flickr user pmo

Comments

[texastornado]

The United States has it's own Oligarchs. The Bush Dynasty, the Rockerfellers, McCain and Cindy dynasty (owns seven mansions) and I could go on and on but what's the point. It's the pot calling the kettle black.

[like a ginsu]

A lot of these Russian oligarchs come from nothing. People that grow up orphaned/p­oor/both/e­tc. oten throw cash around as soon as they can. Not justifying it, but it sheds some light on why they indulge themselves like this. Roman Abramovich was parentless and homeless in the 80s and now he owns one of the biggest soccer clubs in Europe and has the world's largest yacht collection.

[GrainOSand]

There is no justification on earth for such an indulgence of self. We see it all the time though, even in the not so well heeled. When is enough ever enough? I must be the greatest, the smartest, the best this or the best that and everyone must know it. Living life to the fullest is now measured in dollars and cents and celebrity -- by some anyway. The house is beautiful I am sure, and the setting is probably majestic and breathtaking, but it is not worth 50 million -- to me. Value it is said, is subjective.

[The5thW]

Just some food for thought I considered recently. Real feudal lords had self sustaining castles that provided communal protection in wartime, food, fuel, and even spiritual and artistic content, and earned them to some extent by fighting at personal risk for the communal defense. That is actual wealth as opposed to silly opulence in a foreign land to which you have no meaningful connection whatever.

[bilditup1]

...one things for sure: that widow and her descendants have got it made in perpetuity, yo. I would've chosen the money, easily. And she must have been some tough cookie to hold out that long.

-e

[Stephen]

Interesting politicization here: Russian billionaires are "oligarchs." Rupert Murdoch is not?

[cmp]

Who the hell wants a house like that ? I don't want to walk a block to the bathroom and a 1/2 mile to the kitchen and 75 steps to the 2nd floor. Oh........­..........­....I get it ! With that kind of dough, someone else is doing the walking. OK........­........fo­rget what I just said.

[joeyfoto]

Villa Leopolda sold for $750,000 million dollars to a Russian Oligarch... OK it's a very nice house. I hope he has as much fun in it as I do in my home in France. Although my place is much smaller, it's a little closer to the Med and I don't have to wake up every morning and wonder if Vladi Putin wants me dead or in prison for the rest of my life for something I said or something he thought I said or something I might have thought... or something I forgot to say or... Yea, I'll take my little place in France, where I can just have fun with my friends. I think this guy ought to be just a little jealous of me.

They used to say: "The Russian thinks the butterflies are spying on him." With Putinm, Russia has traded her dream of liberty for a terrible stability, I'm afraid she will end up with neither liberty nor stability, but the historic norm for Russian leadership... insanity, Why would anyone in their right mind be jealous of this poor oligarch in his multi-million dollar-Med­iterranean­-dacha? He might end-up playing tennis with a butterfly net.

[Sargoth]

Hmmm, I think the rich guy got ripped off. That place is nice, but it doesn't seem $750 million nice. You know? I bet the guy has so much money though, he doesn't know what to do with it all. Hmm...

Dear crazy Russian man,
Please send money. Thanks.

Sincerely,
Your old broke American comrade

P.S.
That whole Cold War thing. Totally not my fault.

[Cowtippin]

Oh leave the guy alone. Just because he is a billionaire and you are not. Don't whine about how unfair it is that someone has this type of money. Good for him. And believe me he does not give a sh*t what a bunch of nobody's think anyway.

[Larkinvos]

It's "Belle Epoque," not "Apoque." Come on, guys.

[tomomaha]

Not Roma. You're behind the times. They are many other billionaires trying to make a splash now.

In the resource-driven economy we have entered into, the world's largest country is benefiting immensely, naturally.

И очень правильлно - и на их улице должен быть праздник!

[Blutus]

Leopold's old digs?

It should be converted into a school
for orphans from the Congo
and a genocide museum.

Especially since the Cold War has
come back.

[peacekitten]

the best idea yet.

all the money to pay for it came from crime and corruption. all the bills must be tinted a faint blood color.

[Americanium]

A communist and his money will soon part.

[bikerdude]

How does a communist become a multi billionaire? Sounds like
perhaps it isn't being a communist that made him/her rich? What
makes you think someone who is capable of becoming a multi
billionaire would be fool enough to lose it? If it were true communism
the community would be the billionaire, no?

[totaldisbelief]

Any form of government soon spawns it's Favorites dining at the Trough of public money.
Congress has health care -we don't- Congress has retirement benefits -most of us don't.
It's not only Communism that breeds Favorites any power structure tends to do this.
Perks go with Power.

[We]

According to Sears, the smart move for any homeowner is to invest in aluminum and/or vinyl siding.

[BaileyWo]

I was totally caught off guard by that one. I'm still laughing.

[formerprosecutor]

Hysterical! what a dull article otherwise.