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Malibu estate once bought for $30m by African president's son resells for $93.5m

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A luxury Malibu mansion previously owned by Teodoro Nguema Obiang has sold for $93.5 million after a corruption settlement. The property was originally purchased for $30 million and changed hands several times amid ongoing legal disputes. Luxury developer Mauricio Oberfeld bought and renovated the home before it passed to the Stark family, who are linked to the brand Chrome Hearts. The sale highlights how the estate's value rose considerably through its legal and ownership history.

Read the full story at Times of India

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Malibu estate once bought for $30m by African president's son resells for $93.5m · ShortSingh