AOL co-founder's Merrywood estate sold to Saudi gov't for $43M

Published 31.05.2018 11:21
emSotheby’s International Realty Photo/em
Sotheby’s International Realty Photo

The government of Saudi Arabia bought the Merrywood estate of AOL co-founder Steve Case for $43 million, reports said Wednesday.

The house was initially listed for $49.5 million, and was sold last week, the Wall Street Journal reported.

The CNBC reported that the house is expected to be used as an embassy by Saudi Arabia.

The 23,000 square-foot estate, located along the Potomac River, has nine bedrooms, gardens, an indoor lap pool, outdoor swimming pool, a wine cellar, a tennis court and a gym.

Case and his wife had reportedly bought the house for $24.5 million in 2005.

Merrywood was also the childhood home of Jackie Kennedy.

Steve Case is a co-founder of AOL and CEO of venture-capital firm Revolution LLC.

The couple travel often and did not need the property anymore, Sotheby's International Realty and JLL said in a statement.

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