Laurene Powell Jobs, widow of Apple visionary Steve Jobs, just paid $94 million for an oceanfront estate in Malibu’s Paradise Cove, The Times has confirmed.
The billionaire businesswoman has been on a Malibu spending spree over the last decade, amassing a compound spanning multiple parcels in one of the most affluent enclaves in the country.
Real estate records show that Jobs has spent around $80 million on three adjacent properties since 2015. Her latest acquisition is the biggest home sale in Southern California so far this year and the priciest since last May, when Jay-Z and Beyoncé dropped $200 million on a minimalist mansion just up the street.
The blockbuster deal was a quiet one, completed off-market. As a result, there aren’t many photos of the property, but records show the parcel spans roughly four acres and holds an L-shaped home built in the 1950s.
Spanning four acres, the long, slender property overlooks the ocean and beach from Malibu’s Paradise Cove.
(Google Earth)
The house has four bedrooms and four bathrooms across 3,399 square feet, opening out to a lawn overlooking the cliffs and beach below. It will probably be razed as Jobs continues building her compound.
The billionaire philanthropist broke into the Malibu market in 2015, spending $44 million on a double-parcel property and demolishing the 13,000-square-foot home it held. She bought the house next door two years later for $16.5 million, and in 2021 she added an adjacent five-bedroom cottage for $17.5 million.
In 2018, the Real Deal reported that the mansion she was building was among the many homes damaged in the Woolsey fire.
Over the last decade, Paradise Cove has emerged as the most valuable stretch of coast in California and one of the priciest pockets in the country. WhatsApp co-founder Jan Koum paid $87 million for a three-acre spread there in 2021. Later that year, venture capitalist Marc Andreessen broke the state price record when he dropped $177 million on a sprawling estate between Paradise Cove and Escondido Beach — before the record was broken again by Jay-Z and Beyoncé.
In 2016, a triple-wide trailer in Paradise Cove Mobile Home Park traded hands for $5.3 million.
A native of New Jersey, Jobs manages the Steve Jobs Trust and founded the Emerson Collective, which doles out grants and investments in education, immigration reform and environmental causes. Forbes puts her net worth at $14.3 billion.
