Nicknamed "Billionaire's Beach," the Carbon Beach section of Malibu is home to Oracle CEO Larry Ellison, entertainment mogul David Geffen, former Dodgers CEO Jamie McCourt, and other business tycoons.
Ellison loves Carbon Beach so much that he owns 10 properties there, including one he bought just this week.
What makes Carbon Beach so great — and expensive?
The AP's Jeanne Cooper answered the question in 2006, shortly after Geffen lost a court battle against the construction of a public-access walkway near his home. She wrote:
Locals talk about the breadth and dryness of the sand driving up prices to a minimum of $15 million for a small beachfront lot.
And unlike Malibu Colony homes, the houses tend to be built right on the sand, with no seawall blocking the view of the beach from the patio. For visitors (or paparazzi), that means being able to see the lifestyles of the rich and famous without a telescope while strolling the sand. But really, Carbon Beach's relative exclusivity - in terms of price and public access - is its main selling point.
We decided to see what all the fuss was about.
Welcome to Billionaire's Beach. Malibu has 21 miles of shoreline, but Carbon Beach extends for just one mile along the coast.
"Billionaire's Beach" has its own boutique hotel, called the Malibu Beach Inn. The hotel has 47 rooms.
Source: Malibu Beach Inn
The inn, which was renovated in 2007, is right on the water. So even if you can't afford a multimillion-dollar home there, you can spend a night living like a Billionaire's Beach resident.
Source: Malibu Beach Inn
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