Talk about a relocation bonus.
Nokia today announced that its former chief executive, Stephen Elop, will receive $25 million at closing if Microsoft completes its acquisition of the Finnish phone giant. Elop would also then return to work at Microsoft.
Some think Elop – former head of Microsoft’s productivity software group - is the lead candidate to replace Steve Ballmer. That could bring him another 8-figure bonus.
Either way he can use the $25 million to do some house shopping.
Elop continues to own property in the area, including a 12,000-square-foot mansion in the Redmond-Woodinville area that’s valued at $2.3 million. But it’s now listed for $5 million.
In April, before he and Ballmer sealed the Nokia deal, Elop paid $1.1 million for a pied-a-terre in Redmond’s Grousemont Estates (pictured below).
But there’s a pattern of Microsoft chief executives moving to the eastern shore of Lake Washington so that $25 million probably won’t be sitting in the bank too long.
Here’s a nice little place on Mercer Island’s Faben Point for $16.75 million. Listing agent Wendy Lister says it’s a “toast to the energized luxury” of the area.
Worthy of Global attention on sunscaped Lake Washington, introducing our 14,000± sf motif of party-perfection. Perfectly adaptable proportions for intimate groups…for extravagant fetes…for cozy quiet times with loved ones and close friends.
If Elop gets $5 million for the Redmond mansion, plus the Nokia exit bonus, he might consider a 2-acre collection of Medina parcels that were recently listed for $30 million.
In this neighborhood Elop could throw a stick in any direction and hit a current or former Microsoft executive, if he needed any pointers. Lister calls it “a compound through iron gates … to a world of excellence.”
I’d call it Lumianescent.
Or perhaps, if Elop’s feeling sentimental about leaving Finland, he’ll opt for something in Seattle’s Scandinavian district, such as this $2 million “grand dame” in Loyal Heights with sweeping views of Puget Sound and the same gabled style of Elop’s Eastside homes:
Or perhaps the Elops would like a more vibrant place in the city center, within walking distance of downtown’s great restaurants and nightlife. Here’s a $4.95 million fixer-upper crying out for a visionary who can see potential where others may not: