Prince Harry and Meghan Markle's billionaire neighbor has sold his $19million mansion, making him the latest of the rich and famous Montecito, California, residents to exit since the ex-royals arrived.
Peter Sperling, son of University of Phoenix founder John Sperling and one of the 400 wealthiest Americans, sold his seven-bed, 13-bath property in the Duke and Duchess of Sussex's private Southern California neighborhood in April this year, deed documents show.
The billionaire heir also sold another mansion on a couple of streets over for $16.3million in February and his two sales follow actor Rob Lowe who also ditched his home in Meghan and Harry's neighborhood in September last year.
Sperling was so keen to sell his Garden Lane home just a few doors down from Harry and Meghan that he reduced the price by a total $7.65million.
The home was originally listed at $26.75million, but the listing dropped by $4.25million last year to $22.5million, and eventually sold $3.4million under that, for $19.1million.
Prince Harry and Meghan Markle's billionaire neighbor has sold his $19million mansion just yards from the royals
The home is just yards from the Duke and Duchesses' property and sits on 5.56 acres of land
The billionaire's departure makes him the latest of the rich and famous Montecito, California, residents to exit since the ex-royals arrived
The seven-bedroom estate has 13-bathrooms, a pool with a cabana and two separate one-bedroom guesthouses
Gwyneth Paltrow, Ellen DeGeneres as well as Oprah Winfrey also live nearby in the celebrity enclave
It was originally listed at $26.75million, but the listing dropped by $4.25million last year to $22.5million, and eventually sold $3.4million under that, for $19.1million
The home was bought by a trust whose trustee is financial analyst and LA lawyer Robert Gipson (pictured), managing partner of Gipson Hoffman & Pancione
The billionaire has been trying to sell the mansion since 2017.
Sperling and his wife Stephanie's former $19.1million Garden Lane mansion, sold on April 6 2021, was bought by a trust whose trustee is financial analyst and LA lawyer Robert Gipson, managing partner of Gipson Hoffman & Pancione.
Gipson could now be the Sussexes' newest neighbor – or could be a trustee for one of his clients who wished to purchase the home more anonymously.
Gipson is on the Board of Directors of Wolfgang Puck Worldwide and a member of the strategic planning group of World Gym International.
He has previously served on the board of the Sundance Institute, the organization behind the Sundance Film Festival.
Sperling's former mansion was bought by The Owenshire Trust, of which Gipson is a trustee, documents filed with the Santa Barbara County recorder's office show.
The trust took out a $12million mortgage on the property.
