Laurene Powell Jobs loves Malibu.
The widow of Apple co-founder Steve Jobs has paid $94 million for an oceanfront estate in the California beach town’s Paradise Cove. Los Angeles Times reports. This is the fourth property she has purchased in Malibu in the past 10 years.
However, this latest purchase turned out to be the largest to date. The total cost of the three previous properties is approximately $80 million. All four objects are located next to each other.
Jobs’ new investment sits on four acres and includes a 1950s L-shaped home with four bedrooms and four bathrooms, although it will likely be demolished. The transaction was completed outside the market, Time speaks.
Her Paradise Cove neighbors include Jay-Z and Beyoncé, as well as Marc Andreessen and WhatsApp founder Jan Koum.
Jobs, who runs the Steve Jobs Foundation and founded the Emerson Collective, which provides grants for various causes, is worth an estimated $11.2 billion. according to the Bloomberg Billionaires Index.
She is far from the first billionaire to buy several plots of land to create her own complex. Meta founder Mark Zuckerberg is reportedly building a $100 million complex (with an underground bunker) on 1,400 acres in Hawaii. And Amazon founder Jeff Bezos owned 10 acres in Beverly Hills.
Malibu builders saw a lot of orders from Jobs. In 2015, she spent part of $44 million demolishing a 13,000-square-foot home on one of her properties and adding a five-bedroom cottage to another home in Malibu for $17.5 million in 2021.
Work on a mansion under construction in 2018. reportedly injured in the Woolsey fire in the Los Angeles area. However, the extent of the damage was unclear.