Canadian mining magnate Robert Friedland recently bought a large piece of real estate in California from famed American TV host Ellen DeGeneres, according to media reports.
The purchase, as first reported by The Wall Street Journal, was made off the market for a final sale price of US$96 million. The land was bought by the now-retired DeGeneres two years ago for US$70 million.
The property is located in Carpinteria, near Santa Barbara, a hotbed for celebrity buyers on California’s coast. It spans 10 acres of manicured land, resting atop a bluff overlooking the Pacific, and features an 8,000-sq.-ft. home, according to reports.
This is the second time that Friedland bought one of DeGeneres’ high-end estates. In February, the mining billionaire paid US$32 million for a Mediterranean-style estate in Montecito known as Pompeiian Court.
The Ivanhoe Mines (TSX: IVN) chairman himself has been busy with his real estate dealings this year. He recently sold another Carpinteria property for nearly US$50 million.
Meanwhile the mining industry doesn’t understand why entry-level geo jobs paying slightly more than the median U.S. salary to forgo family and work in extreme environments isn’t attracting new talent. Truly a mystery worthy of Scooby Doo and the gang.