Tech entrepreneur Bill Gates and his wife Melinda Gates have paid $43 million for an oceanfront home near San Diego, Calif., in one of the largest deals recorded in the area.
The Del Mar property was most recently on the market for $48 million and the deal closed in late March, according to listings website Realtor.com. The Gateses bought the home from Madeleine Pickens, the former wife of Texas billionaire T. Boone Pickens. When reached by phone, Ms. Pickens said she wished the new owners well.
The Gateses, whose primary residence is on Lake Washington in Medina, Wash., previously spent $18 million on a 229-acre thoroughbred training center in Rancho Santa Fe, a short drive northeast of the Del Mar beach property. The horse farm was owned by weight-loss guru Jenny Craig.