Mogul lists custom built megamansion he never lived in for $47 million

A marijuana kingpin is on the verge of losing millions of dollars thanks to a bogus deal for which he has only himsefl to blame.

Ori Bytton lists unused megamansion for $47m. Picture: Realtor

A Cannabis mogul is offloading his custom built megamansion, which he has never lived in, for just under $US30 million ($A47 million).

Israeli-born businessman Ori Bytton, who founded US cannabis products company Natura Life, listed his sprawling Los Angeles property for $29.99 million, marking the fifth time he has attempted to sell the six-bedroom, 11-bathroom in the past two years.

The tycoon initially put the expansive Bel-Air home on the market in March 2023 for $US38 million ($A60 million), Realtor reports.

The Wall Street Journal revealed at the time that he had never actually lived in the property because they had relocated to Sacramento in order to be closer to his company’s cannabis production campus before construction was completed.

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Ori Bytton. Picture: www.natura.io

The businessman is offloading his $US30 million California mansion, which he and his family never lived in. Picture: Realtor

Bytton purchased the Bel-Air land in 2014 for $US1.75 million and began construction on the home in October 2018. Picture: Realtor

Despite the home’s extravagant design, Mr Bytton has struggled to find a buyer — and his original asking price has now been slashed by almost $US10 million ($A15 million).

While it’s unclear how much it cost to build the mansion, he would still stand to earn a tidy profit on the $US1.78 million ($A2.8 million) price he paid for the land in 2014, four years before construction began in October 2018.

It took five years to construct the property, which features unique amenities, including a custom smoking room in the basement. Bytton previously revealed he spent around $US100,000 ($A150,000) just to ventilate the room.\

Though Mr Bytton has never lived in the home, he apparently spared no expense on its design and construction.

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This marks the fifth time he has attempted to sell the six-bedroom in the past two years. Picture: Realtor

The chef’s kitchen. Picture: Realtor

Mogul lists unused megamansion for $47m. Picture: Realtor

The finished product is a “breathtaking retreat,” the listing notes. “Enter through a 10-foot oak door and floating pathway into a stunning living area with floor-to-ceiling windows, seamlessly blending indoor and outdoor living while framing jetliner views.”

The expansive living space has four seating areas, a chic fireplace, and white furnishings. The chef’s kitchen is equipped with an oak island and dark wood cabinets.

“The chef’s kitchen is centred around a statement Travertino island and complemented by a striking Pierre de Varennes staircase,” adds the listing.

The primary suite features a huge soaking tub carved from silver travertine and cost the cannabis entrepreneur $US160,000 ($A253,000), according to the Journal.

Three guest bedrooms are on the second floor, and the rooftop terrace comes with a spa.

The basement boasts a theatre room with a projector screen and a mix of white and beige couches. There’s also a sauna, gym, wine cellar, and smoking room.

The cannabis mogul told the outlet that his pals thought he was “crazy” to install ventilation systems, adding that he estimated it cost him $US100,000 ($A150,000).

There’s also a sauna, gym, wine cellar, and ventilated smoking room. Picture: Realtor

The cannabis mogul told the outlet that his friends thought he was “crazy” to install ventilation systems, adding that he estimated it cost him $US100,000. Picture: Realtor

The property was relisted on March 18 for $US29.99 million in hopes of attracting a buyer this time around. Picture: Realtor

According to property records, the home first came on the market in March 2023 for $US38 million ($A60 million).

The price was reduced to $31.99 million ($A50.7 million) in June 2023 before it was taken off the market just one day later.

It was relisted in November 2023 for the same discounted price and then taken off the market again two days later.

It was listed again in April 2024 and this time stayed on the market until February 21 2025, before being removed again.

Parts of this story first appeared in Realtor and was republished with permission.

Originally published as Mogul lists custom built megamansion he never lived in for $47 million