When the wealthiest people in the world are looking for beachfront properties, there’s one neighborhood that reigns supreme: Paradise Cove – known to realtors as Billionaire’s Bluff – a mile long strip of oceanside mansions, compounds and cottages, in northern Malibu.
Paradise Cove was most recently in the news in June, when philanthropist and entrepreneur Laurene Powell Jobs purchased a fourth property in the neighborhood, in an effort to expand her already vast compound.
Powell Jobs, the widow of Apple co-founder Steve Jobs, first started buying up Paradise Cove properties with the purchases of a $44 million mansion in 2015. Two years later, she bought an adjoining house for $16.5 million. Four years after that she spent $17.5 million on a neighboring cottage, the Los Angeles Times reported.
Her latest purchase was one the most expensive Southern California property deals this year, though it’s still several million dollars less than the nearby Malibu mansion that Jay Z and Beyoncé purchased last year.
In addition to the Knowles-Carters, Jobs’ Paradise Cove neighbors include Silicon Valley entrepreneur Marc Andreessen and WhatsApp co-founder Jan Koum.
“Rich people like to congregate and they’ve congregated here,” local realtor Leonard Rabinowitz told the Wall Street Journal. “It makes them feel safe and more comfortable.”
Realtors attribute Paradise Cove’s popularity with the uber-wealthy to the heightened levels of privacy available and the perks of living in an area with both expansive views and immediate access to the ocean. The properties are generally larger than those in other star studded neighborhoods, but residents are still shielded from the view of outsiders or nosy neighbors.
“If you do see [neighbors], you’re seeing the corner of a roof in the distance,” realtor Kurt Rappaport told the Wall Street Journal.
While Paradise Cove is famed for its privacy, the neighborhood’s lucrative real estate deals often attract the public’s attention. Continue reading to learn more about the properties in Billionaire’s Bluff and the people who have resided in them.
