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Chen in 2005. China Photos/Getty Images Chen offered $500,000 over the $24.5 million asking price, beating multiple other competitive offers, a spokesperson for Douglas Elliman, one of the brokerages who held the listing, told Insider. The [winning] offer was compelling, but we had buyers waiting in the wings, Listing agent Ernie Carswell of Douglas Elliman told Mansion Global. In 2016, Chen and his wife, Chrissy Luo, donated $115 million to create the Tianqiao and Chrissy Chen Institute for Neuroscience at Caltech, which is just a five-minute drive from their new home. Chen declined to comment on the purchase via his company. Called the Seeley Mudd Estate, the 14,000-square-foot home is also known as the University of Southern California (USC) Presidential Mansion because it housed the university s presidents for 40 years.

University of southern californiaUnited statesSan marinoSanta monicaLos angelesBrent changHenry huntingtonElliman austin alfieriGeorges pattonDouglas ellimanLos angeles timesSeeley mudd estateSouthern californiaPresidential mansionAmerican colonial styleMansion global