S
cott Banister, a venture capitalist and early investor in companies like PayPal and Uber, has purchased the historic Hillsborough mansion known as the "Western White House" for $23 million. The 11-bedroom, 24,000-square-foot estate was built to resemble the presidential residence at the behest of George Hearst in 1930. Banister's company, Willowmoss LLC, also acquired a San Rafael mansion for $6.2 million and another home in Hillsborough last year.

    The "Western White House" has been on the market since June 2023, initially listed for $38.9 million before being sold to Banister's company. The sale price was nearly $16 million below the initial ask. Agent Alex Buljan of Compass represented the seller, real-estate investor Mehrdad Elie, who purchased the home in 2022 for $15 million.

    Banister has a history of investing in various companies and has also been involved in politics, donating to campaigns including Rand Paul's SuperPAC in 2016 and Ron DeSantis' campaign in 2021. His company, Willowmoss LLC, shares an address with his personal residence in Half Moon Bay, where he owns a home purchased in 2003.