Colorado’s most expensive real estate listing has been purchased by the CEO of Colorado’s most valuable public company.
Alex Karp, co-founder and CEO of Palantir Technologies, a leading software and tech company based in Denver, has purchased St. Benedict’s Monastery for $120 million, according to The Wall Street Journal and Aspen Times.
The purchase near Aspen Snowmass resort includes 3,700 acres in the Capitol Creek Valley, water rights to irrigate 1,500 acres, and the monastery compound. That consists of the monk’s residence, a chapel, a communal dining hall, a library, meeting rooms, a retreat center, multiple guest cabins, as well as several agricultural buildings.
Pitkin County on Monday recorded a special warranty deed showing the sale of the monastery and ranch property to Espen LLC, which is registered in Delaware. The Wall Street Journal links that property to Karp.
The monastery and ranch were being marketed at $150 million by Mirr Ranch Group, making it the most expensive real estate listing in the state. But the pool of buyers was limited, and an earlier offer fell through.
Trappist Monks originally from Massachusetts built St. Benedict’s Monastery in the mid-1950s. Fifty years later, with the monks aging and dwindling in numbers, they were unable to sustain the ranch that was an important source of income. The Trappist Order decided to close the monastery in 2023 and then put it up for sale.
The Aspen Times reports that there will be one final public mass at St. Benedict’s on Jan. 11 to say farewell.
If he were to live at the property, Karp would rank as the state’s wealthiest resident. His primary residence is a 500-acre estate he purchased in New Hampshire for $825,000 in 2019, and he reportedly owns 20 properties around the globe, most located near ski resorts, according to Realtor.com.
His net worth is estimated at $16 billion to $18 billion.
Known for his grueling cross-country ski training sessions, Karp should have plenty of room to roam, and he appears to have pledged to maintain the land, which lacks a conservation easement, as a cattle ranch and wildlife preserve.
“The new owner is committed to the current and future care of the property, including maintaining the property’s character as a local cattle ranch while preserving habitat for wildlife. As part of this stewardship, the new owner intends to continue responsible and sustainable agricultural practices and to work with previous users of the property to continue their use of and care for the land,” Mirr Ranch Group said in a release, without naming the buyer.
The monastery deal surpasses last year’s $108 million purchase of an Aspen home by Steve Wynn, founder of Bellagio and Wynn casinos, and financier Thomas Peterffy. It came with 2.45 acres of land.
Palantir, a leading provider of AI software, was started in Silicon Valley by founders including Karp and Peter Thiel. It moved to Colorado in 2022. The company’s share price has ridden the AI wave to a three-year gain of around 2,500% and it is currently valued at $436 billion, more than every other public company based in the state combined.
The company has come under fire from civil liberty advocates because its products and services are used in government surveillance, immigration enforcement, predictive policing and military operations. Protesters have regularly targeted the company on college campuses and in several cities, including Denver.
Karp, in defending the company, says it only works with democratically elected governments and that its software has accountability controls to prevent misuse. He also argues that Western democracies must maintain technological superiority or they will be overtaken by authoritarian regimes.