In a series of Malibu transactions not seen since Superbad star Jonah Hill took a shine to the thirty-click beach strip a few years back, Steve Jobs’ widow has bought up almost $200 million in oceanfront real estate in the monied, and honied, city.
Laurene Powell Jobs, who is worth fourteen billion dollars after inheriting Stevie’s stake in Apple and Disney, busted into the Malibu market in 2015 when she bought a double-parcel joint for $44 mill, swiftly bulldozing the existing house. Two years later, she bought the neighbours out for $16.5 mill and, in 2021, another neighbour for $17.5 mill.
Jobs’ latest buy is a four-acre oceanfront estate in Paradise Cove, bought off-market hence no photos, for $94 million.
Incredibly, the $94,000,000 buy ain’t the priciest sale in Malibu.
That honour goes to megastar power couple Jay-Z and Beyoncé who, last year, bought a $200 million cement bunker, designed by architect Tadao Ando, on an eight-acre parcel right there on a bluff overlooking the ocean.
At the time, concerns were raised that Malibu might become overexposed due to its colonisation by the rich and famous.
“Exciting but with this new spotlight, the region’s surfers are becoming increasingly worried that their beloved and historical surf break may finally become overcrowded,” reported Chas Smith. “Weekend mobs descended upon the wave as news of Jay-Z and Beyoncé’s new address, leaving locals kerflummoxed and befuddled. Longtime natives the Brothers Marshall posted a photo of the chaos, wondering if it was a sign of things to come.”
Want to get into Paradise Cove but don’t got the ten-mill minimum buy-in?
Nine-fifty k will buy you this pretty trailer in the Paradise Cove mobile home park.
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The post Steve Jobs’ widow continues buy-up of Malibu oceanfront lots; shovels $94 million at four-acre Paradise Cove spread appeared first on BeachGrit.
