Billionaires: are they sharing their fancy, exclusive beaches enough? Oracle CEO Larry Ellison has just bought former Yahoo! CEO Terry Semel's kind of weirdo Michael Graves-designed house in Malibu, which means he now owns nine houses on Carbon Beach, aka Billionaires' Beach (soon maybe we will call it Billionaire Larry Ellison Beach), according to the LA Times. There are only about 70 private houses on the stretch, meaning Ellison, the third richest person in the US according to Forbes, owns about 14 percent of the whole damn neighborhood (oh, he also owns a few commercial properties on Carbon). He paid $36.94389 million for Semel's house, which has three "pavilions" with nine bedrooms, a three-story rotunda, a copper-roofed screening pavilion, and a pool--it's the most expensive sale in the city so far this year.
When Ellison bought his first house on Carbon, the real estate agent for the house says "'He came back 30 minutes after first seeing it and bought it at $14 million or $15 million.' He had barely signed the deal before he was already back out looking at a neighbor's house, she said," according to a 2005 article on the buying spree. Compound-building runs in the Ellison family. Larry's daughter Megan, a producer, owns a few properties in the Bird Streets above West Hollywood.
· Is Malibu turning into the Larry Ellison beach club? [LAT]
· Former Yahoo CEO Lists Michael Graves in Malibu For $50MM [Curbed LA]