Laurene Powell Jobs, the billionaire investor and widow of Apple founder Steve Jobs, recently purchased a prime oceanfront property in Malibu for $94 million. This new Paradise Cove plot is just one of many properties Powell Jobs has acquired in the affluent neighborhood over the years. According to The Los Angeles Times, she has spent more than $170 million since 2015 to build a sprawling compound on Southern California’s expensive cliffs.
Powell Jobs’ real estate ventures are part of a larger trend among the ultrawealthy, who are buying up neighboring properties to create secluded enclaves for themselves. The recent $94 million purchase is the largest home sale in Southern California so far in 2024, according to the LA Times. Paradise Cove has attracted other billionaires like WhatsApp cofounder Jan Koum and venture capitalist Marc Andreessen, with Beyoncé and Jay-Z setting a record with their $200 million mansion purchase there last year.
The new property purchased by Powell Jobs includes four acres and a 1950s L-shaped home with four bedrooms and four bathrooms, totaling 3,399 square feet. Powell Jobs first bought property in Paradise Cove in 2015, spending $44 million on a 13,000-square-foot home that she later demolished. She also purchased a home next door for $16.5 million in 2017 and a five-bedroom cottage for $17.5 million in 2021, according to The Times.
Reports suggest that Powell Jobs is constructing a mansion in Paradise Cove that was damaged by the Woolsey wildfire in 2018. Following Steve Jobs’ death in 2011, Powell Jobs inherited a massive fortune, including a significant ownership stake in Disney, Apple shares and a 260-foot superyacht. Forbes estimates her net worth at $14.7 billion and she is the founder and president of The Emerson Collective an investment firm focused on education
