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☆ Southern California neighborhoods that attract the rich and famous are also some of the hardest-hit areas during major storms
▼ + stars: | 2024-02-06 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewAs an atmospheric river pounds Southern California with a historic deluge of rain, some of the hardest-hit areas also happen to be among the most desirable zip codes. Beverly Hills and the Hollywood Hills of Los Angeles were both under flash flood warnings on Monday. AdvertisementFurther from Los Angeles, other areas that draw the wealthy also tend to be at an increased risk of flooding and landslides when huge quantities of rain hit the state. AdvertisementMontecito's fire chief told the Los Angeles Times that this storm could be more intense than the one that hit in January 2023.

Persons: —, Todd, Keki Mingus, I've, Ellen DeGeneres, Prince Harry, Meghan Markle, DeGeneres, David Neels Organizations: Service, Beverly, Hollywood, Beverly Hills, Business, National Weather Service, NWS, Census Bureau, Santa, Los Angeles Times, Bel Air, Studio, KTLA, Associated Press, Montecito Fire, LA Times Locations: Southern California, Beverly Hills, Los Angeles, Hollywood, Santa Monica, Malibu, Pacific, Bel, Studio City, Sherman Oaks, Encino, Topanga, Woodland Hills, City, Montecito, Santa Barbara

☆ Look inside the $44.5 million Tuscan-style mega villa perched 2,000 feet above Malibu
▼ + stars: | 2023-08-16 | by ( Ray Parisi | ) www.cnbc.com time to read: +6 min

watch nowThe Tuscan-style mega villa that sits high atop Malibu has just been put back on the market with a $44.5 million price tag. Studio 910The French limestone-clad villa's more recent history includes being featured on reality TV and film. Studio 910The primary suite includes vaulted ceilings and two balconies, plus a wraparound terrace. Studio 910The primary suite's third interior balcony overlooks the great room where 35-foot ceilings are clad in walnut wood. Studio 910The kitchen.

Persons: Shawn Elliott, Elliott, Howard Leight, Bob Easton, Leight, Kardashians, Leight's, Howard Leight Jr Organizations: Malibu Rocky, Nest Seekers International, CNBC Locations: Malibu, Santa Monica, Malibu's

☆ The future of AI in finance might be about accepting what we don't know
▼ + stars: | 2023-06-08 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Such a suggestion is blasphemy — and potentially illegal — on Wall Street. But as AI tech continues to advance, one Wall Street executive is wondering if there isn't some wiggle room on those types of policies. But what really caught my eye was Friedman's comments around having to fully understand how the AI works. That's a fascinating thought exercise, and one worth having with how quick AI tech seems to be evolving these days. Wall Street is getting fed up with Amazon.

Persons: Dan DeFrancesco, we've, Adena Friedman, shouldn't, Simon Berlyn, Robert Kindler, Morgan Stanley, Paul, Weiss, Garrison, Marc Lasry, Frank, Charlie Javice, Sam Altman, Bernstein, Rod Stewart, We've, Jeffrey Cane, Nathan Rennolds Organizations: PE, Disney, Pixar, . Finance, Nasdaq, Bloomberg Invest, Milwaukee Bucks, JPMorgan, Amazon, Communist Party, LinkedIn Locations: NYC, Point72, Rifkind, Wharton, New York, London

☆ See inside Wave House, the legendary Malibu beach home once owned by Rod Stewart that just listed for $49.5 million
▼ + stars: | 2023-06-07 | by ( Zoe Rosenberg | ) www.businessinsider.com time to read: +2 min

A house that juts out over Malibu's coveted beach hit the market for the first time in 36 years. Rod Stewart bought it in the 1970s and sold it to record executive Mo Ostin in 1987. The house was designed to look like a set of cresting waves by California architect Harry Gesner. The Coopers were friends with California architect Harry Gesner, and commissioned Gesner to design a house for their family that encapsulated their affinity for the outdoors. The estate of Mo Ostin, the home's most recent owner and onetime record executive who's known for signing Jimi Hendrix and The Kinks, listed the property in early June for $49.5 million.

Persons: Rod Stewart, Mo Ostin, Harry Gesner, —, Gerry Cooper, Gesner, Glenn Cooper's, Cooper, Lisa Germany, Jimi Hendrix Organizations: Service, Glenn, Coopers, Malibu Colony Locations: California, Malibu, Mo

☆ Meet Fashion Nova's billionaire CEO who owns the biggest modern home in the US —a $126 million LA megamansion
▼ + stars: | 2023-04-28 | by ( Áine Cain | Sarah Jackson | ) www.businessinsider.com time to read: +1 min

Richard Saghian is best known as the fashion mogul behind Fashion Nova, but he's also snapped up pricey real estate. Within a year, he bought a $40 million home on Malibu's "Billionaire's Beach" and shelled out $126 million for the biggest modern home in the US. The billionaire exec has shelled out $40 million for a 6,000-square-foot home on Malibu's exclusive "Billionaire's Beach," The Real Deal reported. Less than a year prior, Saghian bid $126 million at auction for a Los Angeles megamansion. Nicknamed "The One," the 105,000-square-foot property is considered the biggest modern home in the US.

☆ A small-cap fund manager who's beaten 90% of his peers over the last year shares 5 stocks he's betting on now — and how he weeds out downside risk in a volatile area of the market
▼ + stars: | 2023-04-25 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

Investors look to small-cap stocks for big upside potential. 5 stocks Harden is betting on nowHarden shared five holdings that he's put through this process and are among those he's most bullish on right now. Next, Harden listed two regional banks: Metropolitan Bank (MCB) and Merchants Bancorp (MBIN). The iShares US Regional Banks ETF (IAT) is down 26% year-to-date. "I don't think there's any money in having a calendar," he said.

☆ Fashion Nova founder joins 'Billionaire's Beach' with all-cash purchase of $40 million Malibu property — a 20-minute drive from his $126 million Bel-Air mega-mansion
▼ + stars: | 2023-01-06 | by ( Jordan Hart | ) www.businessinsider.com time to read: +2 min

Fashion Nova founder Richard Saghian is now a resident of Malibu's exclusive Billionaire's Beach. Saghian paid $40 million in an all-cash deal for the Malibu beachfront home. Less than a year ago, Saghian purchased "The One" in Bel-Air for $126 million, the largest modern home in the US. According to the listed addresses for both properties, Saghian's new home is just a 20-minute drive from his megamansion in Bel-Air. The fashion executive secured his new Malibu home for $20 million less than its June asking price of $69 million, according to The Real Deal.

☆ Inside Malibu's largest home for sale: $58.8 million
▼ + stars: | 2022-12-19 | by ( Ray Parisi | ) www.cnbc.com time to read: 1 min

The Bali-inspired residence at 11870 Ellice St is perched above the Pacific Coast Highway in Malibu is on the market for $58,808,000. The modern glass-and-concrete architecture, called the Kaizen House, is built around an open-air courtyard with lush palms and a koi-filled pond at its center. CNBC's Ray Parisi tours the six-bedroom-ten-bath mansion with co-listing agent Branden Williams president and co-founder of the Beverly Hills Estates Group.

☆ Meet Fashion Nova's billionaire CEO, who just bought a $40 million beach home after buying the biggest modern home in the US last year for $126 million
▼ + stars: | 2022-03-08 | by ( Áine Cain | Sarah Jackson | ) www.businessinsider.com time to read: +2 min

Richard Saghian is best known as the fashion mogul behind fast fashion brand Fashion Nova. Saghian is also snapping up pricey real estate. But that isn't his first big real estate purchase in LA. Last year, he shelled out $126 million for a Bel-Air megamansion, the biggest modern home in the US. The billionaire exec recently shelled out $40 million for a 6,000-square-foot home on Malibu's exclusive "Billionaire's Beach," The Real Deal reported.

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