R
ed Ventures co-founder and CEO Ric Elias has sold his oceanfront Palm Beach mansion for $73 million in an off-market deal. The 0.7-acre property, located at 530 South Ocean Boulevard, was purchased by Elias in 2020 for $37.5 million. The 12,900-square-foot estate features eight bedrooms, 11 bathrooms, and a pool, and was sold fully furnished.

    The sale is one of the most expensive in Palm Beach this year, with increased interest in ultra-luxury, turnkey homes driven by the "Trump Bump" and concerns about the Palm Beach Architectural Review Commission. The buyer's identity remains unknown, but the selling agent notes that demand for such properties has surged due to their ease of use and reduced risk of approval issues.

    Elias' Red Ventures owns several digital media companies, including The Points Guy and Healthline, and Forbes estimates his net worth at $1 billion. The mansion was built in 2018 by Smith & Moore Architects and Marc-Michaels Interior Design, and its sale marks the latest trophy deal in Palm Beach this year.