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☆ 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

☆ Famous Malibu Wave House Hits the Market for $49.5 Million
▼ + stars: | 2023-06-01 | by ( Katherine Clarke | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/famous-malibu-wave-house-hits-the-market-for-49-5-million-a137ec31

Persons: Dow Jones

☆ Beyoncé and Jay-Z Join the $100 Million Home Club
▼ + stars: | 2023-06-01 | by ( Debra Kamin | ) www.nytimes.com time to read: +1 min

Beyoncé and Jay-Z, no strangers to flashy real estate deals, reportedly upgraded from their $88 million mansion in Bel Air, Calif., to a $200 million Malibu property last month, officially erasing the line between going big and going home. The sale marks the most expensive residential real estate deal in California history — but not the most expensive in American history. That would be the $238 million sale in January 2019 of an unfinished penthouse on Central Park South, in Manhattan, to the billionaire hedge fund tycoon Kenneth C. Griffin. Still, California can claim 10 of the 20 most expensive property sales ever in the United States, according to data compiled by Jonathan Miller of Miller Samuel appraisals. Beyoncé and Jay-Z, who have bought and sold multimillion-dollar homes in Miami, New Orleans and the Hamptons, are now in a rarefied club of celebrities who own properties worth $100 million or more.

Persons: Beyoncé, Tadao Ando, William Bell Jr, Kurt Rappaport, Rappaport, Kenneth C, Griffin, Jonathan Miller, Miller Samuel Organizations: Calif, Malibu, TMZ, Westside Estate Agency, Park, Hamptons Locations: Bel Air, California, Manhattan, , California, United States, New York, Florida, Connecticut, Miami , New Orleans

☆ These are the 10 cheapest places in the U.S. to buy a beach house
▼ + stars: | 2023-05-27 | by ( Celia Fernandez | ) www.cnbc.com time to read: +3 min

Gulfport, Mississippi, ranked as the cheapest town in which to buy a beach house, according to Realtor.com. Dszc | Istock | Getty ImagesTop 10 cheapest places in the U.S. to buy a beach houseGulfport, Miss. In Newport News, the median price within one mile of a beach is $200,000 and the median price per square foot within one mile of a beach is $150. It has one of the best public beaches in the state, Ocean Beach Park, which sits on the Long Island Sound. The median price within one mile of a beach is $257,000 in New London, while the median price per square foot within one mile of a beach is $175.

☆ Beyoncé and Jay-Z smash California real estate records with their purchase of a $200 million concrete compound overlooking the ocean
▼ + stars: | 2023-05-21 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +2 min

The $200 million mansion was created by architect Tadao Ando, who also designed a home for Kanye West. The concrete compound comes with a 40,000 square foot residence and pool just steps from the beach. The concrete compound features an infinity pool just steps from the Pacific ocean. A sky view of 27712 Pacific Coast Highway in Malibu, purchased by Beyonce and Jay-Z in May of 2023 for $200 million. The 40,000 square foot residence was designed by iconic Japanese architect Tadao Ando.

☆ Harry Gesner’s Malibu Sandcastle House Lists for $27.5 Million
▼ + stars: | 2023-05-18 | by ( Katherine Clarke | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/harry-gesners-malibu-sandcastle-house-lists-for-27-5-million-a2efbdca

☆ The pros and cons of using Turo to rent out your cars: You can make a lot of money but it's a pain if your vehicle gets wrecked or stolen
▼ + stars: | 2023-04-29 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +1 min

Turo is a car-sharing app that allows people to rent out their cars to others for a daily rate. Insider talked to five Turo hosts about the best and worst parts of renting out their cars. For $423 a day, you could rent a bright red Ferrari and drive it from Malibu to Santa Barbara on the car-sharing app Turo. Some hosts rent as a side hustle to earn passive income, while others operate full-time businesses. While many Turo hosts find business opportunities, there can also be downsides to renting out your car to strangers.

☆ 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.

☆ Upfront's Mark Suster created one of the most exclusive and glitziest gatherings in tech. But there's a dark side.
▼ + stars: | 2023-04-21 | by ( Ben Bergman | ) www.businessinsider.com time to read: +6 min

Mark Suster is managing partner of Upfront Ventures, a Los Angeles venture firmSuster's fastidiousness has created what many now consider one of the best tech conferences of the year. But Suster's abrasive, take-no-prisoners approach has also alienated some startup founders and investors. These luminaries were among the 1,000-plus attendees of last month's Upfront Summit, a glitzy, invite-only tech conference organized by Upfront Ventures and its managing partner, Mark Suster, in Los Angeles each year. "Mark and the Upfront Summit helped put LA tech and investing on the map," said Jeffrey Katzenberg, the cofounder of DreamWorks and WndrCo. Several years ago, a founder whose startup Suster invested in was in a conference room rehearsing their presentation for the Upfront Summit.

☆ California superbloom: Hillsides are exploding with wildflowers. Here's what it looks like from space
▼ + stars: | 2023-04-20 | by ( Stephanie Elam | ) edition.cnn.com time to read: +4 min

Kyle Grillot/Bloomberg/Getty ImagesVisitors walk through a field of wildflowers at the Antelope Valley Poppy Reserve in Lancaster, California on April 14. Hillsides are covered in colorful wildflowers, seen here in a satellite image in Palmdale, California, on April 10. Kyle Grillot/Bloomberg/Getty ImagesWildflowers bloom at the Antelope Valley Poppy Reserve in Lancaster, California, on April 14. Kyle Grillot/Bloomberg/Getty ImagesWhile California hasn’t closed state parks because of the superbloom, at least one town is demanding that tourists stay away. The Antelope Valley Poppy Preserve in Lancaster, California, on March 30.

☆ Upfront's Mark Suster has become the star of LA's booming startup scene. Not everyone is a fan.
▼ + stars: | 2023-04-18 | by ( Ben Bergman | ) www.businessinsider.com time to read: +29 min

"I have worked with more than 50 VCs and nobody comes close to what it is like to work with Mark Suster," said a founder backed by Suster. "Mark and the Upfront Summit helped put LA tech and investing on the map," said Jeffrey Katzenberg, the cofounder of DreamWorks and WndrCo. Several years ago, a founder whose startup Suster invested in was in a conference room rehearsing their presentation for the Upfront Summit. If you're going to put him on your board, you're letting the fox guard the henhouse. "If you're going to put him on your board, you're letting the fox guard the henhouse."

☆ 'Love Is Blind' is hell on earth: Contestants say producers deprived them of food and sleep, preyed on their anxieties, and refused to let them quit
▼ + stars: | 2023-04-18 | by ( Katie Warren | ) www.businessinsider.com time to read: +29 min

After the 10 days, cast members must decide whether they want to get engaged to another contestant sight unseen — or go home. The season-two contestant Nick Thompson said "Love Is Blind" didn't adequately support its cast members — during or after filming. Many cast members believed "Love Is Blind" would be a cut above other reality shows. The first evening in Cancún, producers told Ruhl she couldn't attend a party for all the newly engaged couples because they thought she might have COVID-19. In a later episode he again became infuriated and threatened to leave when Reed came home late from clubbing with other cast members.

☆ Winter Showers (and Showers and Showers) Bring a Bounty of Wildflowers
▼ + stars: | 2023-04-16 | by ( Jill Cowan | ) www.nytimes.com time to read: 1 min

LAKE ELSINORE, Calif. — Torrential downpours this winter sent California residents fleeing from floods and mudslides. Blizzards dumped snow in the mountains, trapping locals in their homes for weeks. Hulking trees crashed into homes and severed power lines. After such a disastrous start to the year, it may be a while before nature can fully recompense Californians for their struggles. But the succession of atmospheric rivers did deliver relief from a prolonged drought.

☆ Hockey Great Chris Chelios Asks $75 Million for Malibu Beach Home
▼ + stars: | 2023-04-06 | by ( Katherine Clarke | ) www.wsj.com time to read: 1 min

Be the first to know about the biggest and best luxury home sales and listings by signing up for our Mansion Deals email alert. In Malibu, Calif., the beachfront home of retired ice-hockey star Chris Chelios is coming on the market for $75 million.

☆ A Couple Decided to Swap Their Family Home in Pennsylvania for a California Rental. Which One Did They Choose?
▼ + stars: | 2023-03-23 | by ( Livia Albeck-Ripka | ) www.nytimes.com time to read: +2 min

And Mr. Adams, an executive director in cybersecurity for Comcast, was tied down by his job. The pandemic, too, had changed the landscape: Mr Adams was largely working remotely and was free to move. “We thought, are we going to be able to swing it?” Ms. Adams said. “We needed to be near Pepperdine,” Ms. Adams said, adding that other requirements included ample parking (the family has several cars), storage space and a yard. They also wanted at least three bedrooms, two bathrooms and enough space for Mr. Adams to work from home.

☆ 31% of new cars sold for above sticker price last month. These 10 models have the biggest premiums
▼ + stars: | 2023-03-10 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +2 min

An estimated 31% of new vehicles were sold above MSRP last month, according to a joint forecast from J.D. On average, new autos are priced 8.8% above the manufacturer's suggested retail price, or MSRP, according to new research from iSeeCars.com. The biggest premiums paid are for luxury vehiclesAs for which cars are priced the most above MSRP: Most of them are luxury models, according to the iSeeCars study. Coming in first for the highest premium is the Genesis GV70, whose average price of $56,476 is 27.5% above an MSRP of $44,299. For instance, the Chevrolet Silverado 1500 comes with an average price of $50,116, which is 1.9% below an MSRP of $51,103.

☆ A Feng Shui-Inspired Malibu Home Hits the Market for $68.8 Million
▼ + stars: | 2023-03-02 | by ( Libertina Brandt | ) www.wsj.com time to read: 1 min

Be the first to know about the biggest and best luxury home sales and listings by signing up for our Mansion Deals email alert. In Malibu, Calif., an oceanfront home designed with feng shui in mind is returning to market for $68.8 million.

☆ They Lost Their Home to the Woolsey Fire. Starting Over Was Bittersweet.
▼ + stars: | 2023-03-02 | by ( Sarah Paynter | ) www.wsj.com time to read: 1 min

As the Woolsey Fire approached Malibu, Calif., in 2018, Walter and Nan Davis and their 11-year-old son, Nicholas, packed a few keepsakes and left their home under an orange sky. Later, when they were safely removed from the fire, Mr. Davis saw a video of their suburban Malibu West street and recognized the spot where their house once stood. Even as nearby neighbors’ homes were spared, their four-bedroom, ranch-style house had burned down to its concrete foundation.

☆ These were the top Airbnb listings in the U.S. in 2022—including an off-the-grid dome in Terlingua, Texas
▼ + stars: | 2023-02-15 | by ( Celia Fernandez | ) www.cnbc.com time to read: +5 min

The homes span from a tiny escape in Nashville, Tennessee to an off-the-grid dome in Terlingua, Texas. In addition to being able to use the pool, guests can take advantage of the light breakfast that is offered. Julia E. Steele / AirbnbThis tiny home has been on Airbnb's list of top listings several times over the years. Domeland: Off-grid Adobe Dome near Big Bend - Terlingua, TexasThis adobe dome in Terlingua, Texas is close to Big Bend National Park. Trevor Reichman / AirbnbThis dome is an earthen structure powered by solar power and is close to Big Bend National Park in Texas.

☆ ‘Get Out’ and ‘BlacKkKlansman’ Producer Is Buyer of $91 Million Malibu Home
▼ + stars: | 2023-01-06 | by ( Katherine Clarke | ) www.wsj.com time to read: 1 min

Be the first to know about the biggest and best luxury home sales and listings by signing up for our Mansion Deals email alert. Edward H. Hamm Jr., a movie producer and heir to the Hamm’s Beer fortune, is the buyer of a $91 million mansion in Malibu, Calif., according to people familiar with the transaction. The deal was one of the most expensive home sales in the U.S. last year, records show.

☆ 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.

☆ 2022 was the year the Overconfidence Man fell back to earth
▼ + stars: | 2022-12-29 | by ( Maureen Tkacik | ) www.businessinsider.com time to read: +22 min

Naturally, Elon Musk, the platonic ideal of the peculiar self-aggrandizing, self-parodying personality type that thrived during the Trump years and peaked during the pandemic, tops this list. By 2022, the media had pronounced him variously the next Warren Buffett, J.P. Morgan and Charles Koch. "bye bye @trussliz Congrats to lettuce", tweeted Putin's one-time stand-in Dmitry Medvedev, to which Elon Musk could not resist replying, "pretty good troll tbh." Elon Musk speaks at the 2020 Satellite Conference and Exhibition in March 2020. Elon MuskIt's weird to recall now that Elon Musk once seemed like, graded on the billionaire curve anyway, a net positive for a cursed American society.

☆ 'Sextortion' attacks on the rich and famous are on the rise. Here's how their lawyers discreetly fight back.
▼ + stars: | 2022-12-25 | by ( Laura Italiano | ) www.businessinsider.com time to read: +15 min

Celebrities, sports stars, CEOs have never been more at risk of 'sextortion' attacks, lawyers say. "I'm going to blow up you and your business," the screen read. "If you can't get me money," she texted the terrified CEO, according to records reviewed by Insider, "I'm going to fuck up your whole company." East Coast, West CoastHigh-end sextortions like the case of that Manhattan CEO, one of Saland and Weisberg's recent clients, are spawning a growing legal practice. It's different in ManhattanIn contrast, Manhattan sextortion clients tend to hail not from the A-list, but from the city's vast pool of the anonymously wealthy.

☆ After Listing for $125 Million, a Malibu Home Sells for $91 Million
▼ + stars: | 2022-12-24 | by ( Katherine Clarke | E.B. Solomont | ) www.wsj.com time to read: 1 min

Be the first to know about the biggest and best luxury home sales and listings by signing up for our Mansion Deals email alert. A roughly 6.6-acre estate in the exclusive Paradise Cove area of Malibu, Calif., has sold for $91 million, according to the local multiple listing service. The deal is the latest in a string of big-ticket transactions to have closed in Malibu over the past year.

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