Former MGM Resorts CEO Jim Murren Finally Finds Buyer for Summerlin Mansion
Jim Murren eventually found a emptor for his Summerlin hall inward The Ridges, the ritzy gated community of interests in the foothills of the Spring Mountains, more than trio years after he and his married woman Heather ab initio listed the fill out for $10.5 million.
The Murrens’ put up placed at 7 Feather Painted Way sits on 1.5 acres and is dubbed “Skyspace” past the architectural and midland designers who made the abode into “a desert sanctuary” for 1 of Southern Nevada’s wealthiest couples. Adjacent to Red John Rock Canyon, the Murrens purchased the nearly 13,000-square-foot nursing home inwards 2014 for $11.85 million.
The dimension features quadruplet bedrooms and 6 baths, positive a separated one-bedroom guest casita. The home’s amenities include a floating dining room, a Zen garden, an underground wine-colored cellar, a flick theater, bamboo and pine trees, a resort-style pool, and floor-to-ceiling windows that cater unobstructed views of the Las Vegas Strip nearly 10 miles east.
Though the real estate market place was red-hot during the pandemic, Murren didn’t bump a buyer willing to fork o'er $10.5 gazillion when his Ridges estate was first listed inward July 2020. The match removed the listing inwards Nov 2020.
The hall came back up on the marketplace this past tense June with a much higher listing toll of $17.75 million. The Murrens this clip found a buyer but not until they were negotiated push down to $15.95 meg — a more than 10% reduction.
Property records show the sales agreement closed in(p) on Sept. 29. The purchaser purchased the attribute below an LLC called “Outrageous Vegas.”
Murren Rise to Riches
Murren’s time at MGM began inward 1998 when he united the casino behemoth as its chief financial officer. Murren was later decreed chief operating officer before existence named the company’s chairman and CEO in late 2008.
Murren oversaw MGM through several decisive periods, world-class inward dealing with the Great Recession, which included an extensive reorganization. MGM at the clip was amid the $8.5 one million million evolution of CityCenter inward a partnership with Dubai World, an investiture companion owned past the Dubai government.
Murren departed MGM Resorts International as its chairman and chief executive director ship's officer inwards February 2020 to spearhead the Silver State COVID-19 response task force inwards a non-compensatory role.
Murren was remunerated handsomely during his clip as CEO of MGM. As he departed the gambling casino company, he was named past a nonprofit as i of the most overpaid executives inward the US.
Murren inwards 2019 made 355 times the ordinary compensation of an MGM employee. His compensate that twelvemonth was nigh $13 million. His go out package was worth $32 million.
Murren Post-MGM Resorts
Murren is immensely wealthy, but at 62, he isn’t in time ready to retire.
In May, Murren was named CEO of the fresh formed Ritz-Carlton Yacht Collection. The accompany operates tercet ultra-luxury superyachts that offering all-inclusive experiences. Packages lead off at more than $10,000 per pair for a week’s voyage.
Along with overseeing the Ritz’s yacht program, Murren inward Sept was named chair of the United Arab Emirates’ newly formed gaming regulatory body. Murren is also co-chair of the Cirque du Soleil Entertainment Group, a position he’s held since Apr 2020 after the theatrical accompany was sold and reorganized.
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