Jan Koum, the co-founder of Whatsapp, has splashed $87 million to buy a Malibu, California mansion right next to one he already owns.
Koum will be buying the sprawling cliff-side property, located in the picturesque neighborhood of Paradise Cove, from socialite Diane Jenkins, a friend of Kim Kardashian‘s.
The billionaire previously sued Jenkins in July last year accusing her of chopping down $70,000 worth of hedges surrounding his home to boost her listing price.
While the outcome of that suit is unclear, Koum appears to have been handed a hefty $38 million discount on the Jenkins’ original asking price of $125 million.
The purchase comes less than two years after Koum snagged the neighboring home – a five-bedroom six-bathroom mega-compound – from entertainment executive Ron Meyer for $100 million in 2019.
Last year Koum, who’s estimated to be worth $12.5 billion, also spent $125 million to land the Beverly Hills estate of Quibi founder Jeffrey Katzenberg.
KOUM’S NEW $87M PROPERTY: Koum has bought the home (above) for $87 million according to the Wall Street Journal – nearly $40 million less than its initial asking price
HIS $100M HOME NEXT DOOR: Koum snagged the neighbouring property – a five-bedroom six-bathroom mega-compound – in 2019 from entertainment executive Ron Meyer for $100M
Jan Koum (left), the co-founder of Whatsapp purchased the sprawling Paradise Cove property from his neighbor, socialist Diane Jenkins (right)
Koum’s latest purchase was originally listed on the market by Jenkins, an energy drinks entrepreneur, for $125 million in May 2020.
But by July, both Jenkins and Koum became embroiled in a bitter spat when the billionaire accused her of chopping down his hedges months earlier to help increase the value of her property.
As exclusively reported by DailyMail.com at the time, Jenkins allegedly ordered gardeners to ‘trespass’ on Koum’s property in September 2019 to tear down a boundary hedge that she claimed was obstructing her ocean view of Paradise Cove.
When Koum’s security guard intervened and asked the gardeners to stop, Jenkins – the ex-wife of British financier Roger Jenkins – reportedly engaged in aggressive, racially prejudiced ‘Karen-type’ behavior, court documents said.
Jenkins then reportedly threatened to call police on the guard, who is black, because he was ‘in violation of the code’.
‘Jenkins immediately launched into a tirade, claiming that she had just paid $10,000 to have those hedges trimmed,’ the lawsuit read.
‘She said she would not tell or allow them (the gardeners) to stop working unless the Property’s owner agreed to reimburse her immediately.’
Bosnian-born Jenkins then told the guard the hedges were too tall and insisted she had the right to chop them down to 6ft high.
After a back-and-forth, Jenkins then instructed the gardeners to continue their work, reducing the 20ft tall hedges down to around nine feet in size.
Koum’s latest purchase (above) was originally listed on the market by Jenkins, an energy drinks entrepreneur, for $125 million in May 2020
Former owners of the property, situated in the exclusive neighborhood of Paradise Cove, include InterActiveCorp Chairman Barry Diller, and the late country music star Kenny Rogers
The 3,800 sq ft seven bedroom home sits on three acres, has a separate two bed guest house, swimming pools, a waterfall and koi pond, a sports court
The home also has incredible views of the Pacific ocean and is a stones-through away from one of the nation’s most desired beaches
the home comes with its own funicular which leads down to an oceanfront cabana that has retractable ceiling, a wet bar and a fire-pit
The funicular was first installed by Kenny Rogers, who was reportedly fined $2 million by local authorities for doing so
Months later, she then listed her property for sale in May of 2020 for an eye-watering $125 million – an almost $100 million profit on what she bought it for in 2005.
Koum then accused Jenkins of using her ‘improved view’ as a major selling point for the home.
‘It appears that she intends to use the newly-improved view as a major selling point,’ his suit stated, adding: ‘In addition, it is now evident that Jenkins plans to stiff Plaintiffs and dump this problem on whomever is unfortunate enough to purchase her home.’
The lawsuit also revealed that Koum sent a cease-and-desist letter to Jenkins and the gardening company she hired back to prevent any further damage to the trees on his property.
Jenkins also reportedly ignored a settlement agreement to pay $69,850 to replace Koum’s damaged trees.
She was further accused of ‘surreptitiously’ installing a drainage pipe on Koum’s property without his permission.
Lawyers for the Whatsapp co-founder said at the time that they believed Jenkins was attempting to sell her home before she could be found liable for any damages in the dispute.
Koum sued her for undisclosed damages and injunction relief.
The outcome of that suit remains unclear.
However, Koum appears to have been handed a hefty discount of $38 million on the initial asking price of Jenkins’ home.
Situated atop a cliff, the property has nearly three acres of land and includes a single-story, five-bedroom home
It comes equipped with vaulted ceilings, herribone floors and floor-to-ceiling windows that open onto the gardens
Koum, 44, helped launch the internet messaging app Whatsapp in 2009 and is estimated to be worth $12.5 billion
When Whatsapp was bought out by Facebook in 2014, Koum stayed on as chairman until resigning in 2018
Sited above the picturesque and aptly named Paradise Cove, known as one of LA’s most beautiful beaches, the house overlooks the beloved spot
Koum previously sued Jenkins in July last year accusing her of chopping down $70,000 worth of his hedges to boost her listing price
Jenkins ordered gardeners to ‘trespass’ on property belonging to Koum, the founder of WhatsApp, to tear down a boundary hedge that she claimed was obstructing her ocean view of Paradise Cove, court papers revealed (picture from the incident shown above)
Former owners of the property, situated in the exclusive neighborhood of Paradise Cove, include InterActiveCorp Chairman Barry Diller, and the late country music star Kenny Rogers.
Situated atop a cliff, the property has nearly three acres of land and includes a single-story, five-bedroom home with vaulted ceilings, herribone floors and floor-to-ceiling windows that open onto the gardens.
It also features a dance studio, a recording studio, a three-bedroom guesthouse, a swimming pool, a waterfall and koi pond, a sports court and a guard house.
Additionally the home comes with its own funicular which leads down to an oceanfront cabana that has retractable ceiling, a wet bar and a fire-pit.
The funicular was first installed by Kenny Rogers, who was reportedly fined $2 million by local authorities for it, according to the Wall Street Journal.
Koum, 44, helped launch the internet messaging app Whatsapp in 2009.
The company was bought out by Facebook in 2014 in a deal worth $16 billion. Koum stayed on as a Facebook director for several years before resigning in 2018.
According to Bloomberg, Koum is worth $12.5 billion.
NEIGHBORING HOME: The home next to his latest acquisition was bought from ex-NBC Vice Chair Ron Meyer in 2019
The home, styled like a modern compound, features a pool, a tennis court, several sprawling lawns, a two-story library and a movie theatre
Also, much like his latest purchase, the home also features breath-taking views of the Pacific Ocean.
Last year Koum, who’s estimated to be worth $12.5 billion, also spent $125 million to land the Beverly Hills estate of Quibi founder Jeffrey Katzenberg (shown above)
His purchase of Jenkins’ property comes as his latest big-ticket deal in Los Angeles in the last couple of years.
He previously brought the home next to Jenkins’ property from then-NBC Universal Vice Chairman Ron Meyer for $100 million.
The home, styled like a modern compound, features a pool, a tennis court, several sprawling lawns, a two-story library and a movie theatre.
Also, much like his latest purchase, the home also features breath-taking views of the Pacific Ocean.
But Koum didn’t stop there, and, the following September, he extended his already impressive real-estate portfolio by purchasing Quibi founder Jeffrey Katzenberg’s Beverly Hills mansion for a whopping $125 million.
Katzenberg, the former CEO of Dreamworks, made a huge return on the property, having paid $35million for the plot in 2009.