Kogan.com founder and chief executive Ruslan Kogan has reportedly snapped up two adjoining Toorak homes.
Online shopping entrepreneur Ruslan Kogan has reportedly snapped up two Toorak houses for $8.9m.
Title documents show a caveat has been placed by Flare Real Estate director Oren Flamm, who declined to comment on the purchase.
However industry sources have indicated he bought on behalf of the founder and chief executive of internet retailer Kogan.com and other eCommerce companies, at an August auction.
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At the time, four bidders competed to secure the residences which sold for more than $1m above reserve.
Kogan started his first business at the age of 10, collecting and selling used golf balls.
He went on to work in IT and started Kogan.com in his parents’ Melbourne garage, when he was aged 23 years old.
The platform achieved millions of dollars in sales in its third year and The Wall Street Journal estimated Kogan was worth more than US$400m ($608.85m) in 2020.
More than a decade ago, he was also the first Australian to register for billionaire Richard Branson’s Virgin Galactic suborbital spaceflight.
Mr Kogan bought a home in Grant Ave, Toorak, for his parents in a $20m purchase made in 2021.
Inside one of the two houses sold on St Georges Rd.
Ruslan Kogan rings the Australian Stock Exchange bell in 2016. Picture: Renee Nowytarger.
In 2018, Kogan also splashed $38.8m on a Chastleton Ave, Toorak, residence.
The entrepreneur has also owned a Flinders estate on the Mornington Peninsula since 2020 when records show he paid $12.91m for it.
At $8.9m, his latest dual-residence purchase is above Toorak’s $5,007,500 median house price.
But it’s well short of the $80m crypto casino boss Ed Craven splashed on a nearby residence.
Kogan’s two side-by-side houses, which have a total of six bedrooms and four bathrooms between them, also feature a pool and garages.
Jellis Craig’s Michael Armstrong and Nathan Waterson, who had the listing, declined to comment.
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