Some Guys Have All The Luck – George Clooney Paid $10 Million For His Lake Como Estate – It's Worth $100 Million Today

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.

George Clooney made quite a splash when he purchased a mansion on the shores of Italy's Lake Como for $10 million in 2002. Lake Como real estate values have exploded since then, and Clooney's compound is now worth an estimated $100 million, according to Harper's Bazaar.

Clooney's Villa Oleandra estate sits right on the shore in the village of Laglio. It was built in the 18th century and was previously owned by the Heinz family. Clooney undertook an extensive renovation of the 25-room mansion and purchased adjacent properties to create a unified compound, Tatler reported.

Don't Miss:

They Sold Their Last Real Estate Company for Nearly $1B — Now They're Building the Future of U.S. Industrial Growth Arrived Home's Private Credit Fund’s has historically paid an annualized dividend yield of 8.1%*, which provides access to a pool of short-term loans backed by residential real estate with just a $100 minimum.

He also began hosting various celebrities and A-listers at Villa Oleandra. It was during one of those dinners that Clooney met his wife, Amal, in 2013, according to the Hollywood Reporter. "I thought she was beautiful, and I thought she was funny and obviously smart," he said. They hit it off and married in 2017.

Although he only spends a few months a year here with his wife and their two children, Clooney's presence is widely felt throughout Laglio. Tatler reports that Clooney and his wife are known to host a variety of A-listers during their Italian vacations. The likes of Laura Dern, Jim Broadbent, and Riley Keogh have all been spotted at Villa Oleandra through the years.

The Clooneys were recently seen boarding a small boat at Villa Oleandra's private dock and jetting over to the famous Villa d'Este for lunch, according to Harper’s Bazaar. This exclusive hotel is an old favorite of the jet set that has hosted luminaries like Elizabeth Taylor and Alfred Hitchcock, according to Forbes. Hopping on boats at private docks and floating along the shores of Lake Como is all part of Lake Como's intrinsic charm.

Trending: An EA Co-Founder Shapes This VC Backed Marketplace—Now You Can Invest in Gaming's Next Big Platform

The Clooneys certainly enjoy the Lake Como lifestyle, and their presence has raised the area's international visibility, but it's not just A-list celebrities moving to Lake Como. Italy has a flat-tax visa program that allows high-net-worth individuals to pay a flat tax of €100,000 ($85,000) on all their international earnings, regardless of the source.This program has brought in a flood of new investors, and many are buying in Lake Como, according to The Guardian.

Story Continues

That is pushing property values up all over Italy, but the appreciation has been dramatic in Lake Como. Local realtors refer to the price explosion as "the Clooney effect," according to The Wall Street Journal. The Clooneys’ presence in Lake Como only extends that tradition, and local real estate investors couldn't be happier.

It remains to be seen how long the "Clooney effect" will last, but Lake Como's colorful past and star-studded present are certainly making it a highly desirable destination. Clooney may not have expected his villa to be worth $100 million when he bought it. Some guys really do have all the luck.

Read Next:

Backed by $300M+ in Assets and Microsoft's Climate Fund, Farmland LP Opens Vital Farmland III to Accredited Investors Shaquille O'Neal wants people to take heart health seriously — this AI-ECG could make that easier.

Image: Shutterstock

This article Some Guys Have All The Luck – George Clooney Paid $10 Million For His Lake Como Estate – It's Worth $100 Million Today originally appeared on Benzinga.com

View Comments