Malibu now only a billionaires’ club after Larry Ellison laid the groundwork

At its early developmental stages, the Los Angeles beach town of Malibu has always been reserved for the rich and famous. But in the last few years alone, even millionaires have now been shut out — and the community has become a staple for the ultra-rich only. Larry Ellison, the tech titan who has invested significantly in the town since nearly three decades ago, started the Malibu trend of sending area property value through the roof. Combined with a raging coronavirus pandemic, the uncrowded beaches and the relaxed surf-town vibe have sent Malibu home prices soaring — luring in the… Read Full Article