Fashion Nova CEO Is Buyer of $141 LA Million Mega-Mansion (1)

Richard Saghian, owner of the fast-fashion business Fashion Nova, has emerged as the winning bidder of the Los Angeles mansion known as “The One.”

The 21-bedroom, 49-bath Bel Air estate sold Thursday for $141 million to an undisclosed bidder, whose identity was confirmed to be Saghian on Sunday.

He beat out four other offers for the 105,000-square-foot (9,750-square-meter) property, the biggest U.S. home ever to go up for auction, according to the Los Angeles Times, which was first to report the top bidder’s name.

Saghian owns two other homes in Southern California, including a $14.7 million Malibu beach ...