Palantir CEO Alex Karp has spent a record $120m for a 3,700-acre monastery near Aspen

Alex Karp, CEO of Palantir Technologies, has purchased the former St. Benedict’s Monastery in Snowmass, Colorado, for around $120 million. This marks a record sale in Pitkin County, surpassing previous transactions in the area known for luxury real estate.

The 3,700-acre estate, owned by Trappist monks for about 70 years, with about five monks still living there, features a large monastery building and various historical structures.

The property was originally listed for $150 million. Karp plans to use it as a residence, joining a trend of ultra-wealthy buyers driving up prices in the Aspen area. Sales of homes over $10 million have seen a 19% year-over-year rise.