Online shopping and tech entrepreneur Ruslan Kogan has paid his parents back – and even a little – to let him use their garage to launch his e-commerce empire.
Online shopping entrepreneur Ruslan Kogan’s parents are expected to move to a spicy Toorak mansion after a sale of about $ 20 million.
The purchase outside the market is believed to have been made by Mr Kogan on behalf of his parents and is confirmed in title documents, which now show a warning against the property in the name of Irene Kogan, his mother, filed last month.
The entrepreneur founded kogan.com from his parents’ garage in 2006, and spearheaded the company with a new eponymous TV brand. The company now covers cell phones, internet connections, insurance and more.
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He also speaks regularly at schools and youth organizations about his path to success.
The website kogan.com notes that his parents arrived as migrants to Australia with $ 90 to their name in 1989, and he credits their hard work for his own work ethic and success.
CoreLogic records show the impressive home that Mr. Kogan just purchased last changed hands for $ 2.3 million more than 20 years ago in November 2000.
Records show that the property was in Wendy Healey’s name.
RT Edgar Toorak director Jeremy Fox confirmed a sale had taken place but would not comment on the details.
This is the second eight-digit purchase for technology expert Mr Kogan this year.
He spent $ 15 million buying neighboring properties on about 9.58 acres on Musk Creek Rd, Flinders, on the Mornington Peninsula in February.
Sir. Kogan also bought himself a mansion in Toorak for $ 38.8 million in 2018 at a private off-market auction.
The $ 20 million deal signed for his parents is the latest in a series of high-profile Melburnians’ animal sales in the city’s most expensive zip code.
Chiverton Manor at 39 Irving Rd is believed to have sold within the expected range of $ 31.8 million- $ 34.8 million. in the last few weeks, and counted TV legend Steve Vizard among its previous owners.
Businessman Mark Healey and his wife Kelly scored a $ 43 million Toorak record with the sale of their 47 Lansell Rd, Toorak, mansion last month. The property was sold to Chemist Warehouse Manager Sam Gance.
An agreement worth more than $ 30 million was also signed for music promoter Michael Coppel’s property at 60 Hopetoun Rd, Toorak, earlier this year.
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Originally published as Ruslan Kogan: Tech entrepreneur spends close to $ 20 million buying parents Toorak home