Numerous wealthy tech moguls who made their fortunes in Northern California are now heading south to enjoy their wealth.
In addition to Oracle CEO Larry Ellison, who currently owns 27 properties and 9 houses on Carbon Beach alone, various other extremely wealthy individuals who made their fortune in the technology industry are making their move on Southern California prime real estate. PayPal cofounder Peter Thiel purchased a Paul Williams-designed home above the Sunset Strip earlier this year and the Winklevoss twins now own a place in the Hills too.
According to LA Curbed, Facebook moguls tend to prefer beachfront properties. An unnamed executive recently bought a $6.8 million house in Malibu and the company’s head of market development paid $10.9 million for a contemporary home in Manhattan Beach.
Gateway’s cofounder bought a $14 million Mediterranean home in Bel Air and a former Microsoft executive paid $11.5 million for a seven-bedroom house in Holmby Hills. A current Microsoft VP also owns in the area, and reportedly owns the Beverly Hills mansion where the film Pulp Fiction was shot.
Elon Musk of PayPal, Tesla Motors and Space X is reportedly about to seal the deal on a 20,000-square-foot, $20 million Bel-Air home that he had been renting.