5/29/2023 0 Comments Luminar car![]() The house overlooks much of L.A.’s entire Westside, with views that sweep over Will Rogers State Park on their way to the Pacific Ocean, and it sits at the end of a quiet cul-de-sac in the Palisades’ coveted Riviera neighborhood. Tavangarian purchased the one-acre promontory property in 2013 for about $7.3 million. For chillier nights, the ceiling also includes a custom projection screen that displays movies to occupants of the bed. Even James Bond would be impressed by the retinal scanner, which allows access to the bedroom, where a one-of-a-kind retractable roof offers unobstructed views of the starry sky. High-tech gadgetry is everywhere here, though the upstairs master suite is perhaps the home’s wildest space. It was built over several years on speculation by high-stakes developer Ardie Tavangarian, who equipped it with every conceivable amenity - and a few that are nearly inconceivable, too. The Pacific Palisades mega-mansion spans approximately 20,000 square feet, with six bedrooms and a whopping 18 bathrooms. It would appear Russell intends to continue splitting time between Central Florida - at Luminar’s research facilities – and his native Southern California, in addition to the extensive globetrotting already on his schedule as a multibillion-dollar tech firm CEO. Likewise, the Florida property was acquired through a similar South Dakota trust, and public grant deeds also list Russell’s father as a beneficial owner. Russell acquired the Palisades mansion through a South Dakota-based trust, a type of financial instrument favored by an increasingly international group of billionaires who typically appreciate the secrecy, security and reduced taxes the trusts can provide. Reportedly, that big buy was Central Florida’s second-biggest residential real estate deal in history. Just two months after that, records indicate he paid another $10.6 million for a 13,000-square-foot mansion in Winter Park, Florida, only 11 miles from Luminar’s Orlando headquarters. The very next day, on July 2nd, he closed on the $83 million Los Angeles estate. ![]() Russell’s $220 million stock sale closed on July 1, 2021. According to Luminar’s public disclosures, the big stock sale was done “ estate and financial planning purposes.” That estate planning included the purchase of nearly $100 million in California and Florida luxury real estate, apparently. But that money situation changed a few months ago, when Russell sold roughly 10% of his Luminar stock holdings – some 10.5 million shares – a move that netted him more than $220 million in cash. ![]()
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