By Daily Mail Reporter
Published: | Updated:
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Hedge Fund billionaire John Paulson is selling his stunning 7-bedroom mansion in Aspen, Colorado for $29.9 million.
The spacious 13,068-square-foot mansion sits on 8.4 acres in the exclusive Aspen Lakes Ranch community in the Colorado enclave for the rich and famous.
The financier purchased the home in 2010 for $24.5 million and is selling the property with a 22 per cent markup. He is offloading the sprawling mansion to move into the 56,000-square-foot estate he bought from Saudi Prince Bandar bin Sultan in 2012 for $49 million.
For sale: Hedge Fund billionaire John Paulson is selling this stunning seven-bedroom mansion in Aspen, Colorado for $29.9 million
Serious business: Billionaire hedge fund manager John Paulson (at the U.S. Open in Aug. 2011) owns two luxury residences in Manhattan and a sprawling estate in the Hamptons, in addition to his Aspen ranch
The property also includes a pond stocked with trout, a private sandy beach, waterfalls and a guest house.
Nestled in the heart of the mountains, the home offers breathtaking views of the outdoors.
The residence is surrounded by a 35-foot glass wall that opens to a 1,000-square-foot covered porch. The home was built in 2009 by local developer Bob Bowden.
'Every few years, a truly one-of-a-kind property comes along. This is it,' the listing read.
Paulson, who made his fortune in 2007 when he forecasted the implosion of the subprime loan market, is unloading the sprawling mansion after he nabbed a spectacular neighboring Aspen ranch for $49 million, previously owned by Saudi Prince Bandar bin Sultan.
The 56,000-square-foot Hala Ranch, which Paulson has named Star Ranch, is larger than the White House. It has 15 bedrooms including a master suite with a beauty and barber room.
The gorgeous home sits on a 90-acre lot on Red Mountain, overlooking Aspen.
As part of the $49 million deal, he also bought a smaller, 67,000-square-foot property for $8 million called Bear Cabin.
'Initially offered for sale for $135 million the purchase price represents a substantial discount to the asking price,' Paulson said in a statement in 2012 about the purchase.
'In addition, the purchase also includes the Bear Cabin located on a separate 38 acre parcel that was never previously offered for sale.'
The original owner, a Saudi royal and former ambassador to the U.S., had purchased the property for $3.5 million.
A spokesman for Paulson told the Aspen Business Journal that the financier is selling the home because he will be moving into Star Ranch.
Paulson & Co: John Paul married his wife Jenny in 2000. The couple (pictured left at the New York City Ballet Gala in Sept. 2011 and right at an event in The Hamptons in June 2009) met when Jenny worked for the financier as his assistant
The founding president of Paulson & Company, based Midtown Manhattan, reportedly has a net worth of $11.2 billion.
The 57-year-old is the 28th richest American, according to the Forbes Magazine ranking.
John, his wife Jenny and their two daughters are primarily based out of New York, living in an elegant
28,500-square-foot townhouse on the Upper East Side of Manhattan.
According to The Wall Street Journal, he paid $14.7 million for the six-story mansion in 2004. Built in 1917, it has previously operated as a private club, the Town Club.
Mr Paulson also purchased a pad in Midtown, closer to the offices of his hedge fund, for $2.9 million in 2010.
The 2-bedroom 1,797 square feet luxury condo is on the 26th floor of Olympic Tower on Fifth Avenue, though it isn't clear if Mr Paulson himself uses the property.
In addition to their Aspen getaway, the family also has a $41 million estate in Southampton, New York.
The 15,000-square-foot Long Island home, known as Old Trees, sits on 10.4 acres on Lake Agawam.
Real estate experts told The Journal in 2012 that Paulson's home are some of the 'biggest trophy properties in the U.S.'
Paulson was born in Queens, New York and attended school in the Whitestone neighborhood of the New York City borough.
He graduated from NYU and received his MBA from Harvard Business School.
Wall Street Journal reporter Gregory Zuckerman wrote in his book, The Greatest Trade Ever, that the finance genius spent his thirties as a playboy living in a loft in SoHo in downtown Manhattan, mingling with models and celebrities.
After turning 40, the banker decided to settle down and is said to have made a list of the characteristics he was looking for in an ideal wife.
Topping his list of qualities was 'cheerful' and he began romancing his attractive assistant Jenny Zaharia, who possessed such qualities.
They married in 2000.
The Paulsons are active on the philanthropy circuit and in 2012 the couple announced a $100 million donation to the Central Park Conservancy.
Mr Paulson serves on the Board of Trustees for the organization.
