Bill Gates Buys Jenny Craig's Southern California Horse Ranch For $18 Million..PHOTO SPEAKS.

Bill Gates has purchased weight-loss queen Jenny Craig’s horse ranch for $18 million.

The billionaire plans to turn the 229-acre compound, known as Rancho Paseana, into a competitive hunting-jumping facility. The deal closed September 12.

“The family has enjoyed visiting the San Diego area with friends and family for many years and has purchased the Rancho Paseana property in Rancho Santa Fe, California,” a Gates family spokesperson confirmed via a statement. Gates’ daughter jumps horses competitively, and the Gates own a home in the nearby Del Mar Country Club. Craig also owns a Del Mar home, which is reportedly on the market with a price tag of $39.5 million.

The ranch includes a 3/4-mile racetrack, as well as four 30-stall barns and a fifth barn with 21 stalls, a veterinarian’s area, and an olive orchard, says listing agent, Jason Barry of Barry Estates. The Wall Street Journal first reported the news. Catherine Barry, also of Barry Estates, also represented Craig.

Craig closed Rancho Paseana last year. Previously, it had been used as a training facility for thoroughbred horses. The ranch had been on and off the market for years, first listed in 2010 for nearly $30 million, then reduced to close to $25 million before it was taken off the Multiple Listings Service in the fall of 2012. The property was not actually listed, but being quietly shopped off-market, when it sold.

“It was a unique farm because they set it up for racing, with 30-acre pastures. It really gave the thoroughbreds a chance to stretch their legs and really go,” Jason Barry said. Barry noted that Craig had received a lot of interest in the property from developers, but wanted to wait for a buyer who would preserve the ranch’s use for horses. He added that Craig decided to sell the facility after her husband and business partner Sid Craig passed away. “It was really the passion they enjoyed together. She enjoyed the passion, but was ready to move on with other aspects of her life.”

Gates is America’s richest person, according to FORBES, with a net worth of $80.3 billion as of the time this story. The Bill & Melinda Gates Foundation has given away $30 billion since 2000.