Snapchat CEO Evan Spiegel finally moves out of his dad's beach house...to $3m LA home

The 24-year old famously turned down a $3 billion offer from Facebook for the photo-sharing app

Evan Spiegel of Snapchat attends TechCruch Disrupt SF 2013 at San Francisco Design Center on September 9, 2013 in San Francisco, California. (Steve Jennings/Stringer)

Evan Spiegel, the co-founder and chief executive of Snapchat, has finally moved out of his father's house......into a three million dollar home in sunny California.

The 24-year old, who famously turned down a $3 billion offer from Facebook to sell the photo-sharing app, has bought his first house in the upscale neighbourhood of Brentwood for more than three million dollars, Variety reports, citing real estate sources.

The Spanish-style, 2,842 square feet property previously belonged to actress Julia Ormond and recently underwent a major renovation. The house has four bedrooms and three bathrooms, a patio and a swimming pool with a spa.

Spiegel used to live with his lawyer father in the affluent area of Pacific Palisades Los Angeles and previously joked he wouldn't move out until he "kicked him out" because rent was "cheap".

Born in southern California to wealthy parents, Spiegel attended Crossroads School for Arts and Sciences, a private school in Santa Monica, and drove a Cadillac Escalade to school.

He was admitted to Stanford University and later dropped out to work on Snapchat, which is now valued at $10 billion. For the 24-year old Spiegel, who once described himself as "a young, white, educated male" who "got lucky", money is not a problem.