Silicon Valley investor Steve Jurvetson has reportedly shattered the record for the most expensive home purchased in Lake Tahoe, buying a waterfront estate for $125 million on Wednesday.
Jurvetson is a billionaire and an early investor in both Tesla and SpaceX, where he now holds a board seat. SpaceX is expected to go public sometime this year in a blockbuster initial public offering that would value the company at $1.75 trillion and make founder Elon Musk the world’s first trillionaire.
The public offering should also make early SpaceX investors wealthy, and Jurvetson doesn’t appear to be waiting any longer before making some big purchases. Bloomberg reported Friday that an LLC linked to Jurvetson spent $125 million on an Incline Village property, spent $7 million on a neighboring parcel and last month bought another mansion in the exclusive area for $46 million.
Jurvetson’s venture capital firm did not return a request for comment and SFGATE was unable to independently verify that the LLC is connected to the billionaire. A deed for the Incline Village property was transferred on March 25 with $512,500 in transfer tax paid, which implies the property was sold for $125 million.
The nine-figure price tag shreds the previous Lake Tahoe home sale record of $62 million paid in 2024 for an Incline Village estate built by casino mogul Steve Wynn. That estate has seven bedrooms, eight bathrooms and a 12,661-square-foot main house as well as 210 feet of private beachfront property.
Incline Village is an ultrawealthy enclave on the Nevada side of the lake that has been nicknamed “Income Village” because of its popularity among the ultrarich. The town is located on a stunning stretch of the lake with its own ski hill and a lack of state income tax because it’s in Nevada instead of California.
This week’s record-breaking $125 million sale was purchased off-market, according to Bloomberg. A Zillow listing for the property says it has six bedrooms and 14 bathrooms spread across over more than 21,000 square feet of space.
Billionaires have been increasingly fleeing California after lawmakers proposed a wealth tax that would assess a one-time 5% tax on people with over $1 billion in net worth. The current tax proposal exempts real estate from the wealth calculation.