For more than five years, billionaire casino developer Steve Wynn searched for a buyer for his lavish Beverly Hills mansion. According to sfgate, once quietly marketed for as much as $135 million, the estate has reportedly sold for $47.75 million, bringing to a close one of the longest-running sales stories in Los Angeles' ultra-luxury real estate market.

For more than five years, billionaire casino developer Steve Wynn searched for a buyer for his lavish Beverly Hills mansion. According to sfgate, once quietly marketed for as much…

The sale of the mansion at such a discount comes amidst a broader trend of California's wealthiest fleeing the state, which has proposed a billionaire tax.