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Billionaire Ted Waitt of Gateway fame spends $10.3 million on house in Beverly Hills

Gateway co-founder and billionaire Ted Waitt has bought a house in Beverly Hills for $10.3 million.

Gateway co-founder and billionaire Ted Waitt has bought a house in Beverly Hills for $10.3 million.

(Realtor.com )

Billionaire Ted Waitt, who co-founded computer hardware giant Gateway Inc., has bought a house in Beverly Hills for $10.3 million.

The pitched-roof home, built in 1951, was designed by Gerard Colcord in a Cape Cod-inspired Traditional style. Colcord homes have long been popular among the Hollywood elite for their comfort and “family living” qualities.

Set on an irregularly shaped lot of a third-acre, the 6,700-square-foot house includes guest quarters above the three-car garage and was updated extensively a decade ago.

A large pool house, six bedrooms and seven bathrooms are among the living spaces. There’s a gated motor court. Mature trees and lawn surround the home.

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Waitt, 52, is considered one of the country’s leading philanthropists, working to prevent domestic violence, among other causes.

The property sold five years ago for $7.35 million.

Andrew Clark and Barry Peele of Sotheby’s International Realty were the listing agents, the Multiple Listing Service shows, and Ryan Davis of John Aaroe Group represented Waitt.

Twitter: @LATHotProperty

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