Palo Alto home bought for $40 million

"PALO ALTO A home in a prestigious Palo Alto neighborhood has been bought for $40 million in cash, according to documents filed on Oct. 6 with the Santa Clara County Recorder's Office. Michael Rantz and Paula Rantz sold the residence at 330 Santa Rita Ave. in the Old Palo Alto district to Golden Coast Holdings Trust, whose trustee was listed as Douglas Christen, documents show. The 4,400-square-foot house has six bedrooms and four baths. It occupies a lot that totals about 0.2 acres."

"Some of the first residences in Old Palo Alto date back to the end of the 19th century. Early residents included Elizabeth Gamble, granddaughter of James Gamble, one of the founders of Procter & Gamble. Current residents in the neighborhood include Larry Page, co-founder of Google. Michael Rantz and Paula Rantz are listed as the heads of the Michael and Paula Rantz Foundation, which has been based out of the Santa Rita Avenue address,"

"During the one-year period that ended in June, YMCA of Silicon Valley listed the Michael and Paula Rantz Foundation as being part of the YMCA's gold circle for donating at least $10,000 to the youth organization. It wasn't immediately clear what other organizations have received money from the foundation. During the 12 months that ended in June 2024, the Michael and Paula Rantz Foundation donated $1.1 million in charitable disbursements, according to a Form 990 tax document posted by ProPublica."

A home at 330 Santa Rita Ave. in Old Palo Alto sold for $40 million in cash, according to public records filed Oct. 6. The 4,400-square-foot house has six bedrooms, four baths and sits on about 0.2 acres. The property transferred from Michael and Paula Rantz to Golden Coast Holdings Trust, with Douglas Christen listed as trustee. Old Palo Alto includes residences dating to the late 19th century and has notable residents such as Larry Page. Michael and Paula Rantz head the Michael and Paula Rantz Foundation, which reported $1.1 million in charitable disbursements in the 12 months ending June 2024 and held about $7.1 million in assets mid-2024.

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