If offloading multi-million dollar luxury homes is a way to make life simpler, New York financier Ronald Perelman is making good on his promises.
After saying in August 2020 that he wanted to live “a simpler life, with less running around and more time with my family,” the owner of MacAndrews & Forbes, a holding company that counts Revlon among its subsidiaries, has begun offloading several of his homes and pieces in his art portfolio.
Most recently, his 11,435-square-foot beachfront mansion in the Hamptons, listed at $115 million last September, sold for a reported $84 million, according to Dirt.
The home has 10 bedrooms, 11 full bathrooms and 5 partial bathrooms. It is situated on just over 9 acres and offers 385 feet of ocean frontage, the outlet reported.
It’s just one of several recent sales and attempted sales for the 79-year-old businessman, who has seen his reported net worth drop significantly in recent years, according to Forbes. Worth a reported $12.5 billion as recently as March 2017, Forbes now puts the mark around $2.7 billion.
He has been trying to sell his 57-acre estate, also in the Hamptons, for a reported $180 million, according to the New York Post.
He has sold art worth hundreds of millions and listed a number of other estates, jets and super-yacht.
Much of the change began within months of the onset of the ongoing coronavirus pandemic. But it also comes as a number of Perelman’s assets, including the makeup giant Revlon, are underwater.
In August 2020, he told Vanity Fair he was yearning for a slower pace.
“Over the past six months I’ve been mostly at home like most New Yorkers. A simpler life, with less running around and more time with my family, including homeschooling our youngest children, has energized me and taught me new things,” he told the outlet. For the future, I will spend my time more with my family and all my children, seeking new investment opportunities, and running our [p]ortfolio companies.