The face of the EDM business took a sharp turn when EDC was exiled from Los Angeles after 2010. It was a turning point that helped turn Las Vegas into a hub for headliners and A-List clubs year round, and it created a wave worldwide that eventually became a $6.9 billion industry.
Prices for festivals started to go up, fees for DJs started to go up, profits started to appear. Some were more successful than others, like Pasquale Rotella and Neil Moffitt, owner of Insomniac and club promoter for Hakkasan nightclubs, respectively.
Since 2011, Rotella has spent over $12 million on purchases and renovations to homes in the Las Vegas and Los Angeles areas with his wife, Holly Madison. Their purchases include a seven-acre Spanish hacienda in Las Vegas, and a 6,500 sq ft faux castle a few doors down. In Los Angeles, the couple purchased an 8,516-square-foot Spanish colonial mansion.
Moffitt, on the other hand, seems to be more in the business of flipping homes. He has been trying to sell his 10,781-square-foot home in Henderson, Nevada for $5 million, after he purchased it for $1.005 million in 2006. He’s also listing a “6,000-square-foot Walker Tower penthouse for $70 million after paying $51 million for it in early 2014.”
Other notable figures who have made large public purchases of homes include David Guetta, Avicii and Zedd, all of whom have purchased homes in the Los Angeles area.
For more pictures of Pasquale’s faux mansion in Las Vegas, look below.
[foogallery id=”157639″]
via Curbed
