Benzinga | Jan 4, 2022 11:33AM EST

Coinbase CEO Brian Armstrong Buys LA Home For $133M

Brian Armstrong, the billionaire CEO of crypto exchange Coinbase Global Inc (NASDAQ:COIN), has purchased a $133 million home in Los Angeles.

What Happened: Armstrong bought the multi-million dollar mansion from Japanese entrepreneur Hideki Tomita in December, according to a report from The Wall Street Journal.

The deal is reportedly the highest-value home purchase to have been successfully completed in Los Angeles.

Armstrong's newly acquired 19,000-square-foot mansion is said to feature a gym, a home theater and a 6,600 square foot guest house.

Armstrong is one of the richest people in crypto today with a net worth that is estimated to be around $9.64 billion. The Coinbase CEO owns a 19% stake in the crypto exchange he co-founded in 2012.

In September 2021, Armstrong told podcast host Anthony Pompliano that more than 1,000 millionaires were created when Coinbase went public.

"Now that our stock has this sort of liquidity to it, it's given us a liquid currency to go out and do more international expansion, and things like that," said Armstrong at the time.

What Else: Armstrong's net worth still pales in comparison to that of Binance CEO Changpeng Zhao or "CZ."

Although Forbes estimates CZ's net worth to be around $1.9 billion, last month, a Chinese magazine estimated the figure to be closer to $90 billion.

In October 2021, CZ bought his first home in Dubai for an undisclosed amount. The Binance CEO made the move to show his commitment to the city, which he considers to be "very pro-crypto."

Photo: Courtesy Coinbase