Coinbase cofounder and CEO Brian Armstrong.
  • Coinbase CEO Brian Armstrong has bought a $133 million home in Bel Air, sources told The WSJ.
  • Armstrong bought the near-five acre estate in LA from a Japanese entrepreneur, The WSJ reports.
  • The crypto entrepreneur is worth $9.6 billion, according to Bloomberg's Billionaires Index.
  • For more stories go to www.BusinessInsider.co.za.

Coinbase CEO Brian Armstrong has bought an estate in Bel Air in Los Angeles for $133 million, The Wall Street Journal reported.

Armstrong, who cofounded the cryptocurrency trading platform Coinbase in 2012, purchased the estate from a company linked to Japanese entrepreneur Hideki Tomita, according to records seen by The Journal.

The sale, which closed in December, marked one of the most expensive sales for a single-family house in Los Angeles, The Journal said.

Tomita bought the Bel-Air home for $85 million in 2018 from the daughter of billionaire Charles Bronfman, who was an heir of the drinks company Seagram, as per records seen by The Journal.

A report by the Journal in 2018 said the estate, spread across nearly five acres, had a 19,000-square-foot mansion and a 6,600-square-foot, five-bedroom guest house. The mansion, designed by British architect John Pawson, had a theatre, spa, and gym, while the master suite included a hot tub and a fire pit, The Journal said.

Coinbase saw its stock take off after its direct listing in April, valuing Armstrong at $13 billion at the end of the company's first day of trading. Armstrong's net worth is currently $9.6 billion, according to Bloomberg's Billionaires Index.

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