The Los Altos Hills home of Cisco CEO John Chambers, has been purchased by Chinese investor Duan Yongping and his wife, Liu Xin for an undisclosed sum.
The Santa Clara County Clerk-Recorder's office recorded the transaction for the home on July 20 from Constance Chambers to the 51-year-old Duan, a Palo Alto resident since 2002, who is sometimes called "the Chinese Warren Buffett."
Duan made headlines in the international press in 2006 when he made the winning bid of $620,000 for the opportunity to lunch with the real Warren Buffet. He was the first Chinese entrepreneur to do so. Forbes.com ranked him #325 on its 2009 list 400 richest Chinese with a $350 million net worth. He is known for having built up BBK, a consumer electronics manufacturing business in Dongguan, near Hong Kong, and, earlier, Subor Electronics Industry Corp, a learning and gaming machines company. After turning to investment, his successes have been with NetEase and UHAL.
Duan and his wife, a former photojournalist who directs the family's Enlight Foundation, have also been known for their generous donations to their alma maters, Renmin University, Zhejiang University and Ohio University. Although not alumni of Stanford University, they set up a graduate fellowship for Chinese students attending Stanford's School of Engineering