Russian Billionaire Bought the Most Expensive Residential Property for €500M

A mysterious Russian billionaire has trumped his big-spending rivals and broken a world record by splashing out €500 million (£392 million) on one of the most sumptuous villas on the French Riviera.

The buyer is believed to be a Russian oil billionaire, who is keen to remain anonymous. Villa Leopolda was built in the early 1900s for King Leopold II of Belgium and was bought by the former Fiat boss Giovanni Agnelli in the 1950s. [wealth-bulletin]

Villa Leopolda is the world's most expensive house, situated in the French town of Villefranche-sur-Mer on the Cote d'Azur. In August 2008, the previous owner, Lily Safra (wife of the deceased Lebanese businessman Edmond Safra), a famous jewish philanthropist, decided to sell it to its new Russian owner at a price of approximately 500 million euro. [from wikipedia]

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