A rare and massive ranch near Aspen was sold to the CEO of Palantir for $120 million. Take a look.

Alex Karp has added to the growing list of billionaires buying large pieces of land for personal residences.

The Palantir Technologies cofounder and CEO spent $120 million on a 3,720-acre ranch in Snowmass, Colorado — a ski town 15 miles north of Aspen.

Karp, who’s worth $11.7 billion as of June 23, 2026, according to Forbes, purchased the land from St.

Benedict’s Monastery, which no longer has enough monks to support itself.

It was originally listed for $150 million in 2024.

Karp knocked a few million dollars off the price tag and bought it in 2025.

Ken Mirr of Douglas Elliman, who specializes in ranches, had the listing with his colleague and daughter, Haley Mirr.

He told Business Insider in 2024 that an opportunity to own this property doesn’t come up often. “It is such a unique landscape.

Somebody will sit there and go, ‘Wow, there’s nothing like this,'” Mirr told Business Insider. “You’re not going to duplicate it.” The Cistercian Order of the Strict Observance, a Roman Catholic religious order colloquially known as the Trappists, bought the property in 1956 for an unknown price.

It built the original monastery in 1958.

Early on, the monks supported themselves by cattle ranching, making candy, and selling eggs to local restaurants and farmers.

Later, they tapped a local cattle rancher to do the physical work with livestock on the land.

The monastery includes a chapel, prayer areas, and living quarters for the monks.

More buildings have been added to the compound since the 1950s, including a retreat center for hosting events.

Thomas Keating founded the Snowmass Interreligious Conference in 1984, bringing regular interfaith retreats to St.

Mirr said the space had also been used by the Aspen Institute, which hosts the yearly Aspen Ideas Festival attended by business executives, public officials, and other thinkers.

The county has caucuses that uphold its laws and approve land uses.

In Snowmass, the caucus approved a 5,750-square-foot limit to the floor area of homes, so putting up an extra-large megamansion on the ranch is out of the question.

The county is known for oversize luxury homes that trade for handsome sums — a 22,405-square-foot mansion in Aspen sold for a record-setting $108 million in April to an LLC called Buddies Aspen, which The Wall Street Journal said was made up of a powerful duo: the billionaire financier Thomas Peterffy and the former casino developer Steve Wynn.

Mirr said he’d already turned away buyers who weren’t the right fit for the property.

He and the monastery leadership were looking for someone who wanted to do a little with a lot. “There’s going to be a limited buying pool, and we understand that,” Mirr said in 2024. “Our focus really is to look at a conservation buyer ultimately who can work with the code and work with the open space.” This year, Karp moved Palantir’s headquarters out of Denver to Miami.

Karp, himself, has ties to Miami, but plans to treat the large plot of land in Colorado as a home, according to the Journal.