A few days ago, we wrote about several large Malibu homes affected by the devastating Woolsey Fire. After publishing the post, we were almost immediately contacted by our old friend U.N. Owen, real estate expert. Ol’ Mr. Owen inquired as to whether the Malibu home of Viswas Raghavan was still standing.
“Huh?! What are you talking about?” Yolanda replied. We know who Mr. Raghavan is — he’s long been one of the most powerful figures in international finance — but we had no idea that he owned a home in Malibu or anywhere in LA, for that matter. To our knowledge, he solely resides in Europe.
“You blithering idiot,” lamented the rude Mr. Owen. “Of course he has a home in Malibu. Everyone knows that.” And Mr. Owen quickly pointed us to a specific address.
Well, we’re not sure who “everyone” is, but it obviously does not include Yolanda. But anyway, we took a peek at the address in question and discovered that yes indeed, Mr. Raghavan does have a property in Malibu. He bought it last year, back in July 2017. We’re not sure how we missed this one, but it should be noted that his name does not actually appear on the deed — he purchased the home through something called “Ganesha No. 1 Holdings LLC”. (FYI: Ganesha is the Indian god of “new beginnings, success and wisdom”. So there y’all have it.)
Born and bred in India, Mr. Raghavan came from humble beginnings but clawed his way up the corporate ladder. Shortly after college, he began his career in i-banking. By the late 1990s, he was Lehman Brothers’ “head of equity-linked origination for Europe and Asia“.
In July 2000, our boy defected from Lehman Brothers to arch-rival JP Morgan. Last year (2017), it was announced that Mr. Raghavan would become CEO for the company’s EMEA region (Europe, Middle East, and Asia). That, kiddies, makes him one of the most powerful bankers on the planet. JP Morgan has 20,000 clients globally and is the second-largest bank on earth, with total assets exceeding $2.5 trillion.
While Yolanda does not know one iota about Mr. Raghavan’s net worth or salary, it’s worth noting that his American counterpart — JP Morgan USA CEO Jamie Dimon — earned nearly $30 million in 2017 alone. And Mr. Raghavan oversees an even larger geographical area than Mr. Dimon, so we’d wager that he makes a (very!) pretty penny in his Chief Executive position.
Now in his early 50s, Mr. Raghavan has long primarily resided in London. Unfortunately, we don’t know anything about his digs across the pond, but y’all can be sure they are some swanky stuff. According to our pal Mr. Wiki Pedia, Mr. Raghavan is married and has four children, but we confess that we also have no idea about the names and ages of his (alleged) kids. It’s all very hush-hush, you understand.
Mr. Raghavan’s new Malibu vacation home has an interesting history, to put it mildly. The contemporary compound was originally built in 2007 by a non-famous couple. Almost as soon as the property was complete, the main structure was torched in a 2007 wildfire (but the guest house survived).
Though Mr. & Mrs. Non-famous rebuilt, their unlucky real estate streak continued. In 2012, they lost the 1.7-acre property to the unforgiving maw of foreclosure. The following year, the estate was sold for a bargain-basement $3,100,000 to new-age “spiritual awakening” guru/entrepreneur Gerard Powell.
Our boy Mr. Powell tossed his Malibu sprawler onto the market in early 2016 with an aggressive $10 million asking price. Several price chops and over a year later, the property eventually sold for a discounted $7,464,000 (in cash) to Mr. Raghavan.
The completely-landscaped estate is comprised of a two-story main house, a large guesthouse, and a full-size tennis court. And just for the record, Yolanda is 99% sure that this property was not affected by the recent Woolsey Fire, though the flames did come close.
The property sits on the “land” side of Pacific Coast Highway (PCH) and within a private, guarded community. Naturally the $7.5 million estate is completely walled and gated for privacy and security.
Inside the main structure are austere living quarters: an open-concept floorplan and a sleek kitchen with high-end appliances. Elsewhere there’s a big wet bar with plenty of space for boozin’ it up with your closest friends.
The stairwell ascends past a large pond filled with koi fish, and the second-floor master suite features hardwood floors and a built-in soaking tub. Total living space in the main house and guesthouse totals a generous 6,309-square-feet, according to the listing, and includes 6 bedrooms and 6.5 bathrooms.
There’s a rather stunning infinity-edged pool with clear sightlines over the Pacific Ocean, the aforementioned full-size tennis court (Mr. Raghavan is a noted tennis aficionado, FYI), and an at-home gym. According to the listing, the house was offered for sale in combo with the $300k Rolls-Royce Ghost in the garage, but no word on whether Mr. Raghavan actually took possession of the luxury auto.
Perhaps the most valuable feature included in the sale, however, was the deeded rights to desirable Escondido Beach. All Mr. Raghavan (and his family) must do is walk down from their home and use the pathway under PCH (yes, kids, there’s actually a tunnel under PCH) to access their blissful stretch of sand. And even stodgy ol’ bankers like Mr. Raghavan can appreciate the beauty of ‘Bu beaches.
Listing agents: Madison Hildebrand & Jennifer Chrisman, Compass
Viswas Raghavan’s agent: Brant Didden, 4 Malibu Real Estate