Apple CEO Tim Cook has reportedly purchased a lavish villa in La Quinta’s Madison Club which is home to many celebrities. According to Yahoo Finance, the deal was actually struck some two years ago. However, it was only recently that the info of the buyer was confirmed.
Cook reportedly paid $10.1 million for his mansion in the La Quinta area which is in California. During the early days of the coronavirus, specifically in March 2020, famous celebrities held a birthday party. Cook, along with his colleague Eddy Cue attended the birthday party of Universal Music Chairman and CEO Lucian Grainge.
Developed by Discovery Land Company
The gated Madison Club residential area was developed by Discovery Land Company. It has become popular for its expensive homes. Some of the most popular celebrities residing in the area include Lori Loughlin, Mossimo Giannulli, Kourtney Kadarshian, Cindy Crawford, Phil Knight (founder of Nike), Kris Jenner, and Scooter Braun.
The Multiple Listing Service (MLS) used for real estate brokering, lists that the property was purchased by Apple CEO Tim Cook at $10.1 million. However, public records reportedly show that the property was purchased by Cook for $9.1 million. It is unclear which price is correct.
The property was previously listed at $11.5 million. So even if the Apple CEO Tim Cook paid $9.1 million or $10.1 million, he appears to have got a good deal nonetheless. At the present market rate, the price of the property owned by Cook could be valued around $12 million, according to Yahoo Finance.
Apple continues to grow at an unprecedented rate with no signs of slowdown. The company has expanded into the services sector over the past couple of years which now brings in a major chunk of the revenue. Mac sales continue to skyrocket as people continue to work from home and also because the new M1 Macs are absolutely fantastic.