Monaco Penthouse Sells for Over $500 Million, Setting New World Record

Monaco. A new record for the purchase and sale of the world's most expensive residential apartment has been set in the European country of Monaco.

This new world record was set after the holding company System Capital Management (SCM) of Ukraine's richest person Rinat Akhmetov purchased a 21-room penthouse in Monaco's Le Renzo building for more than $500 million.