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Laurene Powell Jobs likes Malibu\u2014a lot.<\/p>\n
The widow of Apple<\/a> co-founder Steve Jobs has paid $94 million for an oceanfront estate in the Paradise Cove area of the California beach town, the Los Angeles Times reports<\/span><\/a><\/i>. That\u2019s the fourth property she has purchased in Malibu in the last 10 years.<\/p>\n This latest purchase, though, was the biggest by far. The price tags of the previous three properties add up to roughly $80 million. All four of the properties are adjacent to each other.<\/p>\n Jobs\u2019 new investment covers four acres and includes a 1950s L-shaped home with four bedrooms and four baths, though it will likely be razed. The deal was completed off-market, the Times<\/i> says. <\/p>\n Her neighbors in the Paradise Cove area include Jay-Z and Beyonce as well as Marc Andreessen and WhatsApp founder Jan Koum.<\/p>\n Jobs<\/a>, who manages the Steve Jobs Trust and founded the Emerson Collective, which gives grants to several different causes<\/a>, is worth $11.2 billion, according to Bloomberg\u2019s Billionaires Index<\/a>.<\/p>\n She is hardly the first billionaire to buy multiple parcels of land to create their own compound. Meta founder Mark Zuckerberg is reportedly building a $100 million compound (with an underground bunker) in Hawaii, spanning 1,400 acres. And Amazon founder Jeff Bezos owns 10 acres<\/a> in Beverly Hills.<\/p>\n Malibu builders have seen a lot of business from Jobs. She spent part of $44 million in 2015 to demolish a 13,000 square foot house<\/a> on one of her parcels and added a five-bedroom cottage to another Malibu property for $17.5 million in 2021.<\/p>\n Work on a mansion being built in 2018 was reportedly impacted<\/a> by the Woolsey fire in the Los Angeles area. The extent of the damages, though, were unclear.\u00a0<\/p>\n<\/div>\nSubscribe to the CFO Daily newsletter to keep up with the trends, issues, and executives shaping corporate finance. Sign up<\/a> for free.<\/div>\n<\/div>\n