by Christopher Freeburn | May 7, 2013 12:00 pm
According to a records search by the Los Angeles Times, Oracle (NASDAQ:ORCL) CEO Larry Ellison has acquired almost two dozen properties along Malibu, California’s 21-miles of sunny, and hyper-expensive coast.
The software billionaire is thought to have spent somewhere between $200 million and $250 million to acquire the properties, including an estate in Serra Retreat, multiple homes in the 1.5-mile long “billionaires’ beach” section of Carbon Beach and the Casa Malibu Inn, over the past decade.
With a personal fortune of about $43 billion, Ellison is the third-wealthiest American. In a media interview last year, he confessed that he initially wanted to be an architect, and said he enjoyed building, remodeling and designing homes.
Malibu is home to some of the nation’s wealthiest people, including Hollywood producer Jeffrey Katzenberg and the late Tonight Show host Johnny Carson.
Last year, Ellison paid $500 million to acquire the Hawaiian island of Lanai. Not content with his island, in February, Ellison purchased a regional Hawaiian airline.
Source URL: http://investorplace.com/2013/05/whos-buying-the-best-spots-on-malibus-billionaires-beach/
Short URL: http://invstplc.com/1fyTqb3
Copyright ©2016 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.