World's 3rd Wealthiest Person Continues To Buy Up Malibu
MALIBU (CBS) — Computer multi-billionaire Larry Ellison, who just bought a Hawaiian Island, has obtained his 11th property in Malibu, it was reported Saturday.
The $36.9 million purchase is the highest sale in Malibu this year. For the money, Ellison got a compound with nine bedrooms, 151 feet of beach frontage, and a copper-roofed screening room overlooking the Malibu Pier to the one side, Catalina Island in the middle, and the Santa Monica Bay arcing to the left.
Ellison, 64, is the third-richest man in the world with a worth of $41 billion, according to Forbes. He is founder of the Oracle Corp. and last summer bought 98 percent of the Hawaiian island Lana'i in June for about $550 million.
The Los Angeles Times reported today that Ellison bought his ninth beachfront house in Malibu when he purchased the Carbon Beach compound of former Yahoo chief Terry Semel and his wife Jane.
The house sits amid Ellison's other eight Malibu beachfront houses. Ellison also purchased two ocean-front restaurants that he later rebuilt.
One former cafe has reopened as the new location for a Nobu sushi restaurant, the other is still being remodeled for an undisclosed tenant.
Ellison has also won Malibu approval to convert an old piece of agricultural land in the Malibu civic center area into a parking lot for his employees and restaurant workers, who are shuttled to Carbon Beach.
The Times reported that Ellison's Billionaire's Beach neighbors include multi-millionaires David Geffen, Jamie McCourt and Michael Milken.
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