Live Nation CEO Michael Rapino Just Purchased This $14.7 Million Mansion

Guess the money really is in touring. Here’s a look at Live Nation CEO Michael Rapino’s latest land grab.

Just moments after getting a raise and contract extension, Live Nation CEO Michael Rapino has purchased this $14.75 million mansion compound in the Brentwood section of Los Angeles.

That’s right, compound: according to details and pictures from seller Partners Trust, the 52,399 square foot estate not only includes the stately manor above, it also includes the adjacent home at 975 Oakmont Street as well.

The negotiated price, down from a list of $14.995 million, was first disclosed by the Wall Street Journal.  Almost immediately after Live Nation chairman Irving Azoff stepped down with a monstrous, $12 million exit payout, Rapino’s contract was extended and his base salary bumped to $2.3 million.

But that’s just the base: in March of last year, Michael Rapino scored a $4.8 million bonus, with year-2011 earnings topping $11.9 million.  That’s a drop from a plum $15.9 million awarded in 2010.

Also according to Partners, the home includes amenities layered on top of amenities.  After passing through the ‘stunning entry,’ the fun begins.  Upstairs is the ‘spacious and serene master suite’ complete with office, dual baths and walk-in closet, not to mention three additional bedrooms that all contain ‘en-suite baths’. The tour continues with a playroom, screening room with projector, another office, guest suite, ‘expansive laundry room,’ and private gym, not to mention a separate guest house.  The lot contains ‘mature trees,’ ‘peaceful canyon views,’ and a barbecue.

18 Responses

  1. Humperdinker

    Don’t worry, Bob Lefsetz isn’t gonna mention it. They paid him off good.

  2. Ghost of Rick Ross

    Not gettin’ it. Isn’t this company bleeding money?

  3. AShamed

    It’s called looting.
    “Shareholders Send Live Nation Board A Warning”
    June, 2012
    An even louder dissent was heard on approval of the company’s executive compensation package. As with many corporations, Live Nation allows its shareholders to participate in a vote on executive compensation. While the vote is merely advisory, (read non-binding) it only passed with slightly more than 58% of voting shares.
    And it isn’t hard to see why shareholders might be dismayed about the company’s executive compensation. In the past year, the company’s stock has lost more than 20% of its value, closing at $8.78 and has seen a lot of red ink since merging with Ticketmaster, to the tune of $600 million in losses.
    At the same time, Live Nation’s management team has enjoyed substantial compensation, totaling $36 million in 2011, with most board members receiving about $200,000 in cash and stock, though this figure is slightly lower than the previous year.

  4. n' Stuff

    Live Nation Losses
    2008: -$239,412,000
    2009: -$60,179,000
    2010: -$228,390,000
    2011: -$83,000,000
    2012: ?

  5. zogg

    Are you running out of news ,who cares how about talking about getting music people back to work.

  6. Visitor

    and this is relevant to readers of digital music news because?…

  7. Visitor

    Because it’s interesting.. And I’m a reader too. 🙂

    • paul

      Seriously! I took that straight from the property description.

  8. Visitor

    Bought and paid for on the backs of starving musicians.

    • lifer

      Sorry guy. This is stockholder money not yours. Plus, anyone being booked by live nation is, by definition, a working musician.
      Ticket buyers and stockholders foot the bill. Don’t get it twisted.

  9. Visitor

    This sort of nonsense cheapens your site. I read something about a house that someone has bought and immediately think about looking elsewhere for my news

  10. Visitor

    Though it isn’t breaking news per se, it is certainly newsworthy. Knowing that a company that has been losing money for years will still award such extensive bonuses certainly colours my opinion of said company.