Patreon Founder Sam Yam Buys $14 Million Palisades Mansion
One of the Los Angeles area’s most successful new mansion developers is Ramtin Ray Nosrati, founder of Huntington Estate Properties. Astute real estate watchers may recall it was Nosrati who last year sold a wild Brentwood mega-compound for $44 million to hedge fund mogul-turned-crypto investor Jeffrey Feinberg. That place came complete with all the billionaire necessities — a beauty salon, two swimming pools, a rooftop “cannabis garden” and a movie theater with a fiberoptic ceiling.
Nosrati also built this ultra-contemporary Pacific Palisades mansion, which isn’t nearly as over the top as the Brentwood project, but still scores many wows. Walls of glass allow occupants of any room to bask in mesmerizing ocean views, and there are a climate-controlled wine cellar, gym, movie theater and walk-in refrigerator on the premises. Last year, prior to its completion, the house was pre-sold to Bay Area techie Sam Yam, cofounder and president of the popular Patreon membership platform.
Founded in 2013, Patreon has amassed over $400 million in funding, and attained a widely reported $4 billion valuation. The platform’s business model is refreshingly simple: self-employed content creators need a way to earn a steady income, and Patreon provides just that. In theory, creators create Patreon accounts to give fans bonus content in exchange for financially supporting them via paid monthly memberships. The creators get to pad their bank accounts, and Patreon takes a 5% monthly fee of the earnings. Everyone’s happy, right?
That’s not to say Yam’s voyage to the top has been smooth sailing. Patreon has incurred loads of criticism in recent years, much of it centered around censorship. The platform has become known for hosting a large number of adult content creators, and company execs are either too lax or too strict on those NSFW accounts — depending on which critics you ask. Some have accused Patreon of being just another OnlyFans in disguise, while other have deemed its current stance on banning outright pornography and sexual services “harsh.” Patreon has also engendered criticism for abruptly banning some politically conservative creators, resulting in more than a couple PR nightmares for the company.
But that drama aside, Yam is still the president and CTO of a multibillion-dollar tech startup — something that’s made the former coder, 37, very rich at a relatively young age. The Palisades house is clearly a ritzy reflection of that success. Though the manse was pre-sold to Yam with only artistic renderings included in the listing, the house now appears to be complete — at least judging by the photos and videos on Yam’s public Instagram account.
Sally Forster Jones and Shauna Walters of Compass held the listing.
Written by James McClain
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