Chateau de Pommard/Serge Chapuis

Burgundy's Chateau de Pommard has been sold to a wealthy American entrepreneur in Silicon Valley for an undisclosed sum.

Previous owner Maurice Giraud spent a decade building the estate into one of the leading wine tourism properties in Burgundy but has announced the sale to Founder.org chief executive and former venture capitalist Michael Baum. The chateau is one of the largest monopoles in the region, with 20 hectares (50 acres) of vineyard land in Pommard.

All staff will remain in place under current chief executive, Cecile Lepers-Jobard. Winery manager Emmanuel Sala will continue to oversee the production of 80,000 bottles of Chateau de Pommard and a range of other Burgundies. Giraud will also stay on for several months as personal advisor to the new owner.

Lepers-Jobard believes the transition will be a smooth one and people need not worry about France's patrimony being sold off. France's far-right National Front political party was one of several objectors to the sale of Chateau de Gevrey-Chambertin to a Chinese businessman in 2012.

"Michael Baum is a passionate investor. This is not an investment fund or a pension fund. He bought the castle and its grounds, for its heritage and history. A new page is turned, but it turns smoothly."

She said Baum had plans, including a new winery and the development of a conference center at the estate. The artistic focus of the estate under Giraud will also continue. He launched an ambitious program of art and wine events, with conferences, exhibitions and tastings.

The Chateau de Pommard dates back to 1726, when it was constructed by Vivant Micault, a secretary to Louis XV. As well as Chateau de Pommard, the chateau also produces wines under a neociant label in the appellations of Monthelie, Volnay, Maranges, Puligny-Montrachet, Meursault, Chassagne-Montrachet, Beaune, Auxey-Duresses, Gevrey-Chambertin and Morey-Saint-Denis.