For years now, software magnate Larry Ellison has been on a spending spree in Malibu that has caused even his fellow billionaires' tongues to wag, the Los Angeles Times reports.
By some accounts, he has shelled out as much as $200 million for more than a dozen properties, including five adjacent residential parcels on Carbon Beach, two nearby restaurants, the Casa Malibu Inn and a vacant gas station or two that he apparently intends to use for customer parking.
Carbon Beach, which runs east from the Malibu Pier for about 1 1/2 miles, is also known as Billionaires Beach thanks to its lineup of denizens including philanthropist Eli Broad, former Los Angeles Mayor Richard Riordan, television financier Haim Saban, producer Jeffrey Katzenberg and David Geffen, the music magnate who famously battled the state over public beach access.
So far, Ellison, 62, has submitted plans to the city of Malibu for two new restaurants, including one expected to feature ultra-high-end Japanese cuisine. That would be in keeping with his affinity for the finer things in life and for all things Japanese.
The Oracle Corp. chief executive , who, according to Forbes magazine, is worth nearly $20 billion , spent 10 years and a reported $200 million re-creating a Japanese village on his 23-acre estate in Woodside, south of San Francisco. And Rising Sun was the name he chose for his 454-foot yacht, said to be the world's longest privately owned boat.
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