Billionaire technology investor Peter Thiel has acquired Casa Encantada, a historic estate in Bel-Air. The mansion was sold at a foreclosure auction in July for US$130 million. The co-founder of PayPal and Palantir Technologies made the purchase through a limited liability company associated with him, which initially concealed his identity in the months following the sale.
Thiel's acquisition concluded a complicated chapter for the home, which had been inhabited for over 23 years by the late financier and telecommunications magnate Gary Winnick and his wife Karen Winnick. Following Gary's death in 2023, Karen initially offered Casa Encantada for sale for US$250 million. However, the property ultimately went into foreclosure after companies associated with her late husband defaulted on loans exceeding US$150 million.
Casa Encantada Estate – Key Data and History
- —Price: US$130 million
- —Location: Bel-Air, California
- —Plot size: 8.4 acres (approx. 3.4 hectares)
- —Living area: 38,725 square feet (approx. 3,597 square metres)
Casa Encantada dates back to the late 1930s when Hilda Boldt Weber commissioned architect James E. Dolena to build the estate on a promontory overlooking the Bel-Air Country Club. Construction costs reportedly amounted to US$2 million. In 1950, hotel magnate Conrad Hilton, founder of the Hilton Hotels chain, acquired the house and resided there until his death in 1979.
A year later, former Dole CEO David Murdock purchased the estate for US$12.4 million, setting a national residential property sales record. He sold it to Gary Winnick in 2000 for an even higher record amount of US$94 million.
Mansion Features and Amenities
Access to Thiel's new mansion is via one of two guarded entrances, with tall hedges, mature trees, and stone pillars shielding the estate from the road. Behind the metal gates, a private road winds through the grounds, leading to the main residence.
Inside, an oval foyer and a sweeping staircase greet visitors, leading to a grand hall under 14-foot ceilings. Formal and smaller dining rooms connect to a walnut-panelled library and two separate drawing rooms. Large, steel-framed windows offer views of the estate and the surrounding golf course. The master suite features two private sitting rooms, separate dressing areas, and two marble bathrooms.
Outdoors, the estate spans 8.4 acres with views of the Bel-Air Country Club. Terraced rose gardens, botanical gardens, an orchard, herb gardens, and expansive lawns surround the residence, with a private road encircling the entire property. At one end of the grounds, a 60-foot tiled swimming pool sits in front of a pool house. A tennis pavilion and a separate sports court complement the leisure facilities.
The US$130 million sale concludes the Winnick family's decades-long ownership and transfers one of Bel-Air's most historically significant estates into the hands of another billionaire. However, Thiel reportedly does not intend to make the almost 39,000-square-foot mansion his personal residence but views the property as an investment he aims to enhance. With almost 90 years of history behind it, these renovations could mark the beginning of another comprehensive transformation for the distinctive estate.
