Former 76ers Co-Owner Michael Rubin Buys Mansion for Record $70M in Hollywood Hills

Former Philadelphia 76ers co-owner and Fanatics CEO Michael Rubin has purchased a home in Los Angeles' Hollywood Hills for a record-setting $70 million, according to Jack Flemming of the Los Angeles Times.

The home was initially listed for more than $80 million, per TMZ Sports, and has seven bedrooms and 12 bathrooms across three stories. It also overlooks the Sunset Strip in Hollywood.

The property was also previously home to Ronald Reagan and this time around was listed by Francesco Aquilini, chairman of the NHL's Vancouver Canucks.

Fanatics is valued at $27 billion and Rubin has a net worth of $10.2 billion, according to Forbes.