PHOTO: James Packer. FILE
Australian billionaire James Packer has finally revealed why he sold his $93 million Beverly Hills estate — and the jaw-dropping property he snapped up instead is turning just as many heads.
In an exclusive reveal, the media-shy tycoon explained that while his former 12-bedroom mega-mansion once owned by Danny DeVito and Rhea Perlman had its perks, it simply didn’t offer one thing: a killer view.
“The old house was great but it didn’t have a view,” Packer said bluntly.
James Packer has sold the Beverly Hills home he purchased in 2018. Picture: Joe Bryant
🏡 From Hollywood History to Hillside Heaven
Packer originally purchased the Beverly Hills property in 2018 for $US70 million to be closer to his children with ex-wife Erica Packer. The sprawling residence was later listed in 2023 for a whopping $132 million AUD before being taken off the market — only to be relisted and sold for $93 million in 2025.
Now, the former casino magnate has upgraded in spectacular fashion.
In March 2025, he closed a $174 million AUD deal for a new Bel Air mansion with 280-degree panoramic views of Los Angeles. The property? None other than the former childhood home of Gigi and Bella Hadid, originally built by their father, Mohamed Hadid.
James Packer has now purchased the childhood home of models Gigi and Bella Hadid. This is the home as it looks today. Picture: Supplied
One of the rooms from inside the property is pictured prior to the renovations. Picture: Supplied
💎 Inside the $174 Million Luxury Estate
Known as Le Belvedere, the estate is a 9,000 sqm architectural marvel perched high in Bel Air. It features:
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A grand three-storey French-style chateau design
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Meticulously landscaped Versailles-style gardens
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A total internal space of 3,700 sqm
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Elegant renovations that blend contemporary luxury with European charm
“The new house has an amazing view over LA. I’m very lucky — spoilt,” Packer said.
https://www.propertynoise.co.nz/billionaire-francesca-packer-sells-her-luxury-sydney-apartment-for-a-whopping-30million/
🇺🇸 Doubling Down in the USA
Despite a soft US real estate market, Packer appears bullish on America. In addition to the Bel Air estate, he’s also leased a house next door to Donald Trump’s Mar-a-Lago estate in Florida.
And that’s not all — Packer has revived his partnership with Hollywood producer Brett Ratner, breathing life back into their RatPac production company. Their first project? A documentary on Melania Trump for Amazon Prime.
🤑 Why This Sale & Purchase Matter
This isn’t just another celebrity real estate shuffle. Packer’s pivot signals:
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A deeper reinvestment in the US entertainment and media space
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A personal fresh start, following past mental health struggles
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A return to the LA scene, both professionally and socially
As he puts his casino empire further in the rear-view mirror, Packer’s new chapter looks like one of luxury, legacy, and Los Angeles sunsets.
He was born as Australia’s richest baby – the heir to a massive $4.5billion fortune.
🏠 Quick Recap: James Packer’s Real Estate Moves
| Property | Location | Sold/ Bought | Price (AUD) | Key Feature |
|---|---|---|---|---|
| Former Beverly Hills Home | Beverly Hills | Sold | $93 million | Ex-home of Danny DeVito |
| New Bel Air Mansion | Bel Air | Bought | $174 million | Panoramic LA views, Hadid legacy |
| Mar-a-Lago Adjacent House | Palm Beach, FL | Leased | Undisclosed | Trump family proximity |
🚨 Want More Celebrity Property Drama?
You’re not alone. Luxury real estate, billionaire moves, and Hollywood power plays are the new guilty pleasure — and James Packer just delivered a triple shot.
SOURCE: NEWS.COM.AU