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Microsoft billionaire loses on Whidbey transaction
It may seem like pocket change to a billionaire, but Microsoft CEO Steve Ballmer lost money in a Whidbey Island real estate transaction, Forbes magazine reports.
The magazine reported that Ballmer and his wife own 10 view properties in the Ledgewood area near Coupeville, but recently sold a 1,144-square-foot beach house for $169,500.
“All of the properties lie close together, creating a sizable compound on the bluff above the beach, except for the small, previously mentioned beach cabin, which is separated by another parcel from the Ballmer estate,” the Forbes story states.
It’s no secret that Ballmer owns a vacation home not far from Greenbank Farm. He caused a ruckus a few years ago by landing a helicopter at the farm.
Ballmer’s property is close to, but was unaffected by, the massive landslide at Ledgewood earlier this year.
The Island County assessor’s database details the properties owned by the Ballmers. Two of the properties have appraised values of more than $1 million.
One property, valued at $2.7 million, has a 8,000-square-foot, rustic-style house with timber and stone siding.
The assessor’s database shows that Ballmer purchased the small, 1965-built beach house for $250,000 in 2007.
Forbes reports that Ballmer listed it for $189,500 and sold it for $169,500.
The house has three bedrooms, a water-facing deck and access to the community pool and tennis court.
The Ballmers’ primary residence is “a large house at Hunt’s Point, across Lake Washington from Seattle.” Its estimated value is $10 million.
Steve Ballmer is listed as No. 19 in the Forbes 400 wealthiest people. His net worth is estimated at $15.2 billion.