Aerospace industry giant Kent Kresa, the former chief executive of Northrop Grumman Corp., recently sold his five-bedroom, 7.5-bath Beverly Hills home for $13 million.
You tell me: Which is the greater accomplishment? Taking an obscure military contractor from the brink of extinction and turning it into a $28 billion-a-year venture employing 120,000 workers – or selling a house in this market? Tough call. Kresa left Northrop Grumman in 2003 after 13 years. In March, he was named interim head of General Motor’s board after the feds forced out Rick Wagoner. Another tough job for a tough guy. Kresa has been a GM director since 2003.
Kresa is also director and nonexecutive chairman of the board at Avery Dennison Corp., which manufactures and distributes pressure-sensitive adhesive materials, office products and various paper products. It is headquartered in Pasadena. Kresa previously was a director at Fluor Corp. and MannKind Corp.
The Mediterranean home was built in 2008. It has five bedroom suites, including a master suite with two bathrooms and multiple balconies. There is a family room, media room, gym, game room, wine room and a state-of-the-art home automation system. The landscaped grounds include winding pathways through a citrus grove.
Judy Cycon of Prudential/John Aaroe, Beverly Hills, had the listing.
One of the Web’s earliest pioneers in the New World Order of social networking, e-commerce and user-generated content has listed his Bel-Air home for $18.9 million. The house belongs to David Bohnett, who co-founded Geocities.com in 1994, which was sold to Yahoo for $3.6 billion in 1999.
Much to the good fortune of Los Angeles, Bohnett took his own good fortune and became a major philanthropist. Today, he is chairman of the L.A. Philharmonic and a trustee of both the Foundation for AIDS Research and Los Angeles County Museum of Art. Other beneficiaries of his generosity include the Brady Center to Prevent Gun Violence, the American Civil Liberties Union and the Wildlife Alliance. Bohnett generally supports animal rights groups, social activists, the arts and charities that deliver direct services to those in need. Let’s hope he isn’t moving too far.
Geocities is considered the precursor to Facebook. Bohnett’s other online ventures include LowerMyBills; NetZero; and OVGuide, which is a search engine for online video properties including TV shows and films.
Bohnett’s 5,721-square-foot home was designed by A. Quincy Jones and built around 1954. Located in Holmby Hills, the one-story residence has four bedrooms and 5.5 bathrooms. Gary Cooper, star of “High Noon,” was the original owner, and he lived there until his death in 1961.
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