Tuesday, February 11, 2014

Google Executive Chairman Buys House In LA, Says Report

In the latest Silicon Valley mogul to buy a house in Los Angeles, Google chairman Eric Schmidt has reportedly purchased a $22 million house in Los Angeles in the Holmby Hills. The report--from the New York Post--says that Schmidt bought the former Los Angeles estate of Veronique Peck, late wife of Gregory Peck. If true, the purchase is just the latest in a long string of Silicon Valley moguls purchasing a second home in LA. Elon Musk--who splits his time between Los Angeles and Silicon Valley--recently expanded his own mansion in Bel Air; Oracle founder Larry Ellison owns extensive real estate in Malibu; the Winklevoss twins bought a mansion a few years back in the Hollywood hills, and there are countless other Silicon Valley moguls with less obvious second homes in the area. However, despite the real estate interest in the region--with the exception of Musk and his phenomenal success at SpaceX--those Silicon Valley executives haven't translated into local impact on the high tech industry.

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