Winklevii Purchase $18 Million, 8,000 Sq Ft L.A. Mansion, Will be RoomiesBy: Josh Wolford - August 27, 2012
If you’re a former Olympian who may or may not have had the original idea for Facebook and you want to expand your startup company to the west coast, not to mention there’s two of you – what do you do? Apparently, if you’re the Winklevoss Twins, the answer to that is “Buy a huge freaking mansion.”
According to TMZ, the famous Facebook litigators have purchased an $18 million mansion in Hollywood Hills. The home was reportedly constructed just for the Winklevii, after they had the previous house razed. Why the big move into real estate? Apparently, the Winklevii are trying to take advantage of the California tech scene by opening a west coast arm of their startup, Winklevii Capital which is headquartered in New York City. They will live in the giant mansion, together, while they do this.
Back in May, we told you that the twins were looking for software engineers to work with their new VC company.
As you probably remember, the Winklevii were part of a long legal battle with Mark Zuckerberg and Facebook over their claims that he stole the idea for Facebook from them. After originally agreeing to a $65 million settlement ($20 million cash, $45 million stock), they later tried to get out of the agreement in order to pursue more in damages. After various appeals, it was ordered that they twins must accept the original settlement. After another failed attempt at another hearing and the threat of involving the Supreme Court, the two finally backed off.
Then, they were ordered to pay $13 million worth of legal fees to the law firm of Quinn, Emanuel, Urquhart, & Sullivan.
I guess shilling pistachios is a pretty sweet gig.