Bezos bought the Warner Estate from media mogul David Geffen, according to the Journal.
It said the deal topped a Los Angeles-area home price record set last year when Lachlan Murdoch paid around $150 million for a Bel-Air estate seen in "The Beverly Hillbillies," a 1960s television show.
The Warner Estate spans nine acres (3.6 hectares) in Beverly Hills. It is a Georgian-style compound with a floor once owned by Napoleon, guest houses, a tennis court, and a nine-hole golf course.
It was originally built in the 1930s by the late Jack Warner, former president of Warner Brothers, the Journal reported.
Bezos, whose worth has been estimated at more than $110 billion, started internet colossus Amazon and is considered the richest person in the world.
Amazon has expanded from its original mission as an online retailer and now is a major force in cloud computing. Its digital assistant Alexa has been incorporated into thousands of consumer products, and the firm operates one of the largest streaming video services.
Bezos also owns The Washington Post newspaper.