Larry Ellison Tightens Grip on `Billionaire Beach'

The $36.9 million sale at Carbon Beach is the highest in Malibu this year.

Larry Ellison, a computer multi-billionaire who just bought a Hawaiian Island, has raised Malibu eyebrows with the purchase of his 11th property on "Billionaire's Beach," 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 a total of 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 of Lana'i in June for about $550 million.

The Los Angeles Times reported Saturday that Ellison bought his ninth beachfront house in Malibu when he bought the compound of former Yahoo chief Terry Semel and his wife Jane on the beach, which is formally called Carbon Beach.

The house sits amid Ellison's other eight Malibu beachfront houses, and just east of a pair of ocean-front restaurants that Ellison purchased, demolished and rebuilt. One former cafe has reopened as the new location for the Nobu Malibu sushi restaurant, the other is still being remodeled for an undisclosed tenant.

Ellison has also won City of 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 down to Carbon Beach.

The Times reported that Ellison's purchase of the Semel house reduces the number of billionaires on Billionaire's Beach by one. His neighbors include multi-millionaires David Geffen, Jamie McCourt and Michael Milken.

Paul Grisanti October 01, 2012 at 05:14 PM
I guess I missed the opinion piece in this thread.....was it deleted?...did it exist?
Jessica E. Davis October 01, 2012 at 05:34 PM
@John, you have a misunderstanding of the "Uniquely Malibu" real estate column, which is written by columnist Beverly Taki, who has lived in Malibu for years. The LA Times runs a similar column called "Hot Property" written by Lauren Beale.
Max October 01, 2012 at 06:10 PM
Addendum: The comment above was intended to be humorous. In fact, I applaud Mr. Ellison. He's a very hard-working, brilliant, passionate, creative and dedicated man, who deserves everything he has earned. It takes courage to take the risks that he has in terms of business and technology to achieve what he has, in a very competitive marketplace in this global economy. And, frankly, the idea of having an employee parking lot located off PCH makes sense, as it will minimize traffic along our already congested main road. Fortunately, he can afford to convert very expensive, prime land in Malibu into a parking lot, instead of other developers vying for that same property to build more hotels and condos that would add even more congestion to our city. I say, "Good for you, Mr. Ellison, and, may you continue to thrive, to enable our beloved country to better compete in the world, establish more opportunities for jobs, be it research, technology, blue collar positions, etc." This is one of the reasons why we all are so fortunate to live in the US. Personally, I am not envious in the least for what Mr. Ellison has accomplished, be it his wealth, his possessions, etc. I am so proud to live in the same country as he, where its citizens have such opportunities. For those who complain about Mr. Ellision's achievements, I say, go back to school, invest 10,000 hours in an area of your own choosing, become an world's expert, take risks and leave a legacy.
Mark Hayes October 01, 2012 at 08:06 PM
Congratulations to Mr. Elison. I Assume he will own most of Carbon Beach one day which is his right. He has paid big sums, enough to satisfy the sellers of these properties and if Nobu is any indication, money and return are not his motives. I am happy that I purchased here a long time ago because the prices would elude me now. Lets not begrudge a billionaire for his hobby.
Kelli October 01, 2012 at 08:32 PM
I think Larry seems like one cool dude. He's good for Malibu - he's earned his money, he buys real estate (and some stunning sailboats), and...? Aside from the high dollar value of the property - it's one more transaction in high stakes real estate -- nothing different from Bel Air, Holmby, Hamptons, SF Bay, wherever. Doesn't really merit a lot of protracted discourse.


More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something