Reese Witherspoon selling her ranch: Ditching LA or boosting her net worth?

Reese Witherspoon is selling her beautiful new ranch getaway home in Malibu. So is she joining the mass exodus of other celebs deserting La La Land, or is the move purely about her net worth? Here’s what we know.

Real estate roulette

Reese Witherspoon is on a bit of a real estate selling spree. Just six months after she unloaded her Pacific Palisades mansion for a whopping $17 million, the Oscar-winning Nashville native and her husband Jim Toth have also managed to rid themselves of the family’s Malibu vacation home, which sold for just over $6.7 million – that’s about $500,000 more than she paid for it last year, a sweet addition to her net worth.

The moves do leave Witherspoon and her husband without a home base in Los Angeles and comes after the dissolution of Quibi, where Toth was head of creative acquisitions & talent.

As it turns out, the Malibu buyer – Meg Haney, a divorced heiress in her 40s – also hails from Tennessee. She is a daughter of Chattanooga real estate billionaire Franklin Haney, a major political donor who first became wealthy primarily by building government offices. Haney is also the younger sister of Mary Alice Haney, a prominent fashion designer who formerly served as Witherspoon’s stylist.

Landlocked lovely

Set on nearly two acres of picturesque grounds, the landlocked property, built in 1950 as a mid-century ranch, was modernized & renovated by a couple who used the property as a wedding venue before selling it to Witherspoon as a complement to her net worth. The interiors now offer open-plan living spaces, a galley kitchen with top-of-the-line appliances, and three vintage-inspired bedrooms & bathrooms.

There’s also a barn-style guesthouse with a full kitchen, plus a separate art studio and a net screening room on the property. The estate’s lush grounds include orchards of fruit trees, vegetable gardens, and ancient sycamores, plus sophisticated equestrian facilities, stables, and a riding ring. Other spaces worth seeing on the property include a bocce-ball court, grassy fields, and plenty of patios for al fresco dining.

According to Celebrity Net Worth, Witherspoon’s net worth is $200 million and she takes home between $20 million to $40 million per year. With Legally Blonde 3 on the way, several Netflix films, and other projects, Witherspoon will continue to be one of the highest-paid actresses in the world for years to come. No question.

Millionaire migration

Witherspoon and her husband are the latest of the celebrity set to leave Los Angeles. Earlier this year, Josh Brolin ditched LA for Atlanta and the Simi Valley, Joe Rogan recently moved to Texas, and Prince Harry & Meghan Markle moved north up the coast to Montecito, California this summer.

Another celeb who’s left LA is Zac Efron. Before the pandemic hit, Zac Efron took a trip to Australia and then decided to stay. According to The Daily Telegraph, Zac has been living in Byron Bay for “months”. Beautiful beaches and great swells aside, Zac also found himself an Australian girlfriend. Efron has been spotted out with aspiring model Vanessa Valladares. All signs point to Zac making a permanent move to Australia.

Rosario Dawson also made a big move cross country in August. The actress decided to pack up her life to be closer to her boyfriend Senator Cory Booker, who she had been separated from for most of the pandemic. “I haven’t seen him since February. He is by himself, going between Newark & DC . . . I’m moving to Newark . . . It’s time,” Rosario said in an interview with YouTube’s Kevin Smith.