Fashion Nova’s Billionaire CEO Richard Saghian Buys Bel-Air Mega Mansion For $141 Million!

Usually preferring to stay out of the spotlight, Fashion Nova’s founder and CEO Richard Saghian made an unusually splashy purchase this week, paying $141 million for a mega-mansion in Bel Air.

The Los Angeles home called ‘the one’, which the developer had hoped to sell for a reported $500 million is being sold to fashion nova’s owner for less than half that lofty amount. The house is being sold during a bankruptcy auction through concierge auctions this week. It was originally listed at $295 million dollars.