Ecclestone Spends $176 Million on Houses for Daughters

We all know that there is nothing in the world a father wouldn't do to see his daughters happy. And that includes spending a fortune – and we're not using big words for nothing here – on a couple of houses located in the capital of England, London.

According to a media report in the UK, the Formula One chief executive has spent no more, no less than 110 million British pounds (US $176 million) on a London house apiece for his daughters Tamara (26) and Petra (22). The former will from now on live in Kensington Palace Gardens, while the smaller of the two sisters, Petra, will move in the eight-bedroom Sloane House in Chelsea.

“I'm very proud of them. They're good girls. They're not stupid when it comes to money,” the 80-year old F1 boss was quoted as saying by the Sunday Times.

Tamara and Petra are Bernie Ecclestone's only two daughters, both the result of his 25-year marriage with former Armani model Slavica Ecclestone. The couple filed for divorce a few years back and, apparently, the financial settlement that came with it did not affect Bernie's balance too much.

In related news, also property related, Bild newspaper in Germany recently reported that 7-time world champion Michael Schumacher finally sold his house near Lake Geneva – which features a helipad, pool, home theater and tennis court – for approximately EUR13 million. The house was for grabs for a few years now, since Schu had changed his residence and moved to a EUR35 million house, also in Switzerland.