Well he’s got some legal fees to pay!
SF Gate
Last year, Huang shelled out $38 million for a Mediterranean mansion in the exclusive Crystal Cove area of Newport Beach — the most expensive home sale of 2024 for the upscale county. And if that weren’t enough, Huang has since relisted the address for sale at a 58% markup for $60 million, according to the Orange County Register.
The 18,000-square-foot home includes six bedrooms, 12 bathrooms, a 10-car garage and an oversized infinity pool that offers sweeping views of the Pacific Ocean, according to the listing with Pacific Sotheby’s International Realty. The property is in a gated community that’s protected by 24-hour guards.
Huang quietly purchased the property in the spring through a Delaware limited liability company that is registered to a luxury condo he owns on the Las Vegas Strip, per the OC Register. The Crystal Cove mansion went under contract in December, only to be relisted on Jan. 23 for the same $60 million price, according to Redfin. He may soon find a buyer, too; the real estate market in Orange County has been white-hot for several years now and is facing a new influx of potential homeowners who have relocated as a result of the Los Angeles fires.
Huang co-founded Stiiizy in Los Angeles in 2017 with James Kim, growing the company into the largest cannabis retailer in California, with 37 locations across the state, according to cannabis data firm Flowhub. Its branded vaporizer products have been the top-selling vapes in the state since 2023, according to the cannabis data firm Headset, and just last week, the New York Times declared Stiiizy the best-selling cannabis brand in America, although the outlet did not cite how it reached that conclusion.
Stiiizy’s meteoric rise in the cannabis industry has brought with it increased scrutiny, putting the company in the middle of a long list of controversies. Stiiizy has been accused of marketing high-potency products toward minors, of defrauding customers by overstating how much THC content is in its products and of selling cannabis vapes that contain a dangerous pesticide.
Stiiizy has denied any wrongdoing, and Pristina Alford, a spokesperson for Stiiizy, told SFGATE in July that the company’s success has made it “an easy target, in some people’s minds, for lawsuits.”
Huang himself was pulled into controversy in 2023 when a Los Angeles Times investigation found that he was linked to nine different California buildings that were used to illegally sell cannabis. A spokesperson for Huang denied the allegations, the Times said, and threatened the newspaper with a defamation lawsuit if it published its story. Separately, Huang and two other individuals were ordered to pay $1 million in civil penalties for being connected to illegal cannabis sales, according to the Los Angeles City Attorney’s Office. Alford, the spokesperson, told SFGATE in July that Huang was only a landlord for the stores and did not engage in any illegal activity.
More at
https://www.sfgate.com/cannabis/article/stiiizy-mansion-listed-orange-county-california-20062217.php
