Single-Family Home Sells For Record Price

In Los Altos Hills, Calif., a 25,000-square-foot French-style chateau just traded hands for $100 million. It's the highest known price ever paid for a single family home in the U.S., according to The Wall Street Journall.

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RENEE MONTAGNE, host:

Let's move now to a $100 million home in California. For our last word in business: new heights.

In Los Altos Hills, California, a 25,000 square foot French-style chateau just traded hands for $100 million. According to The Wall Street Journal, it's the highest known price ever paid for a single family home in the U.S.

LINDA WERTHEIMER, host:

The mansion has the usual features: indoor and outdoor pool, tennis court, ballroom, wine cellar, that sort of thing. The happy homeowner is a Russian technology investor named Yuri Milner. This 49-year-old billionaire runs Digital Sky Technologies. The company has big stakes in hot Internet companies like Facebook, Groupon and Zynga.

The San Francisco Chronicle has a positive take on the sale. It should bring in more property taxes.

And that is the business news on MORNING EDITION from NPR News. I'm Linda Wertheimer.

MONTAGNE: And I'm Renee Montagne.

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