Steven Spielberg Owns At Least $200 Million Worth Of Real Estate In The U.S.

By on May 9, 2020 in ArticlesBillionaire News

It must be great to have so much money that you don't have to think about the price of something you buy. Steven Spielberg and his wife Kate Capshaw fall into this category with their $200 million real estate portfolio. Among these properties is a 1.4-acre swath of the most coveted beachfront in Malibu. They bought the first parcel of the beachfront estate in 1989 for $3.375 million. In 2002 the bought the lot next door for $3.2 million. This gave the Spielberg's 150 feet of ocean frontage. They sold this oasis in 2015 for $26 million. This prime beachfront home wasn't even the couple's primary home.

For many, many years, Steven and his family have lived on a five-acre multi-home compound in Pacific Palisades overlooking the Pacific Ocean. The Indiana Jones director bought his enormous Pacific Palisades estate in 1985 from singer/songwriter Bobby Vinton. He bought the property because of the people who had lived there in the past, which includes Cary Grant and Barbara Hutton. David Selznick lived on the property while he was producing Gone With the Wind, a fact Spielberg loves. His Palisades home has a Hobbit-themed room with a retractable TV and hobbit-like fireplace. In his biography, Spielberg explained: "Hobbits were part of my personal mythology growing up," he stated. "I wanted to have the TV room, where I spend most of my life, to have a Hobbit feel." In 2013, he added a vineyard to the property.

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Of course, the Spielbergs have a New York City pied-a-terre as well. Except in their case, that means it is a-6,000-square foot apartment overlooking Central Park West. The Spielberg apartment is located in The San Remo building, a luxury 27-floor co-op building located between West 74th Street and West 75th Street. The building has long been a favorite of celebrities. In 1982, Steve Jobs bought an apartment occupying the top two floors of the north tower. Jobs spent years renovating the apartment but never lived in it. Instead, he sold the renovated apartment to Bono in 2003 for $14 million. Other famous residents have included Diane Keaton, Tiger Woods, Steve Martin, Bruce Willis, Demi Moore, Donna Karan, Mary Tyler Moore, and many more. As a co-op, The San Remo has to accept residents before they are allowed to buy into the building. One person the co-op board famously declined is Madonna. She wanted to move into The San Remo in 1985 and was declined.

Out in East Hampton, they own a 10-acre estate that is partially oceanfront and partially on a cove. The Spielberg compound encompasses 7.5 acres on Georgica Pond. In 2013, a nearby 5.5 acre property was put on the market for $75 million by a woman named Courtney Ross. Courtney is the widow of Steve Ross, the one-time Chairman of Warner Communications and longtime mentor of Steven Spielberg. Spielberg described Ross as "very much what I wish my father was." Schindler's List is dedicated to Steve Ross. Courtney sold her property for $50 million after a year on the market, perhaps not coincidentally, to Spielberg's Dreamworks co-founder David Geffen. Geffen sold the estate two years later for $67 million. Again, the Spielberg property is at least two acres larger than the former Ross/Geffen property. The Spielbergs own several other Hamptons properties.

The Spielbergs also have a large mansion in Naples, Florida. Not a lot of information is available about this property except that it is in a very exclusive part of Old Naples. Apparently, there are a lot of rumors in Naples about Spielberg's home. One local realtor said: "If Steven Spielberg bought all the houses I've heard he's bought here, he would own 62 homes. It's just absurd."

Steven has also financed several homes for his children around Los Angeles. Spielberg and Capshaw have a combined seven kids, ranging in age from 43 (the actress Jessica Capshaw) to 23.

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