Fashion executive lists Newport Beach stunner for $47.5 million

Entrepreneur Mike Gray and his wife, Lori, are chasing rarified air in Newport Beach, listing their waterfront compound for $47.5 million. If they get their price, it’ll be among the priciest sales in Orange County history.The current record-holder sits a stone’s throw away in Newport Coast, where a 19,000-square-foot mega-mansion traded hands for $61 million in 2020.Gray, who spent 25 years as an executive for luxury fashion brand St. John Knits and also founded the baked goods company Sweet Life Enterprises, paid $12.