Billionaire tech investor Marc Andreessen lists his stunning Silicon Valley compound for $33M after splurging a quarter of a BILLION dollars on Malibu mansions
- Netscape founder and billionaire investor has put his luxury Atherton home on the market as he travels the California coast
- He already owns a seven-acre estate in Malibu, which he bought in 2021 for a then-record $177 million
- His move comes after he lost a campaign against affordable housing in the Silicon Valley suburb
Tech titan Marc Andreessen is leaving Silicon Valley for Malibu Beach after listing his Atherton mansion for $33 million.
The Netscape co-founder and Mosaic inventor already has a string of homes in the resort town, including a seven-acre estate in Paradise Cove that he bought in 2021 for $177 million.
That made it the most expensive home ever purchased in California, a record that stood until 2023 when Jay Z and Beyoncé paid $200 million for the house next door.
But his house in the San Francisco suburbs is nothing to sniff at either, with 12,200 square feet, five luxurious bedrooms and an immaculate interior after a four-year renovation.
‘Situated on 1.55 hectares, barely noticeable from the street and opposite the esteemed Menlo Circus Club, this hidden gem is one of Atherton’s most exceptional estates,’ claims estate agent Compass.
The 1.5-acre estate features manicured lawns, a covered patio, pergola, fountains, seven fireplaces and a reflecting pool
“While its external symmetry and classic allure remain, it has evolved into a place of chic sophistication,” the agents claim.
Four years of renovation of the home’s pristine interior has just been completed
Marc Andreessen has put his Atherton mansion up for sale for $33 million, where neighbors include former Google CEO Eric Schmidt and NBA star Steph Curry.
‘While its external symmetry and classic allure remain, it has evolved into a place of chic sophistication.’
Andreessen bought the three-story home with 1.5 acres of manicured lawns, a covered patio, pergola, fountains and a reflecting pool for $16.6 million in 2007.
The tech investor has a $1.7 billion fortune, boosted by the Andreessen Horowitz investment vehicle he founded in 2009 and which has backed rising stars like Facebook, Coinbase and Slack.
And he’s spent more than $255 million on three homes in Malibu alone since 2021.
Married to real estate heir Laura Arrillaga since 2006, he bought a house on Escondido Beach for $44.5 million in 2022 and then a beach house near the Paradise Cove complex for $34 million.
And he may have grown tired of his neighbors in Atherton after losing the battle to prevent affordable housing development in the neighborhood last year.
Andreessen, 52, who sold Netscape to AOL for $4.2 billion in 1998, wrote about his frustration with America’s housing problem in a 2020 article titled “It’s Time To Build.”
He denounced “insanely skyrocketing house prices” and called for more housing projects “in all our best cities at levels far higher than what we have now.”
“We should want these things more than we want to prevent these things,” he thundered.
But he reacted with horror last year when Atherton put forward plans to introduce affordable housing with 16 three-storey townhouses in his area.
He joined wealthy neighbors, including NBA star Steph Curry, himself the owner of a $31 million home, in demanding an end to the project.
The Netscape founder, who married real estate heir Laura Arrillaga in 2006, runs investment firm Andreessen Horowitz and has a fortune of $1.7 billion
In an email to the city council, he hit the caps lock button to declare that he was “IMMENSIALLY OPPOSED to multifamily development,” and demanded that they “please IMMEDIATELY REMOVE the project’s plans from the area.”
The project returned in a scaled-back form and may have contributed to a drop in Atherton’s average home sales price from $8.3 million to $5.7 million in the two years to February.
But Andreesson’s home isn’t even the most expensive home listed on his Compass website, which is asking $42 million for a house down the street.
“Recently we have seen multiple offers on homes for sale in excess of $20 million, demonstrating the competitive nature of the luxury market,” said Compass founder Mary Gullixson.