Marc Andreessen Has Now Spent $255 Million on Three Malibu Homes – DIRT

I can’t stop, I won’t stop! That must be Marc Andreessen’s motto when it comes to Malibu real estate. Since October, the tech/crypto/venture capitalist billionaire has purchased both a $177 million estate in Paradise Cove and a $44.5 million home on nearby Escondido Beach. Now he’s done it again, spending a relatively paltry $34 million to purchase property immediately adjacent to the large Paradise Cove resort.

Andreessen acquired this last house through an entity called “Paradise Shack LLC” – that’s right, he would like everyone to know that this place is just a $34 million “shack” for him.

But for mere financial mortals, it’s actually a very luxurious and spacious home. Located below the cliffs of Paradise Cove, directly on the sandy beach, it spans approximately 3,600 square feet of living space, with two beds and three bathrooms. Built in 1973, the property was sold by its original owners in 2016 for $18 million. The buyers were a group of investors led by Scott Gillen, a prominent Malibu architect and real estate developer, who then gave the spread a contemporary remodel with lots of exposed wood and cream-white paint inside.

A large central room marrying the kitchen, the living room and the dining room overlooks the 57 feet of frontage on the beach of the house. Glass walls capture majestic views of the entire Paradise Cove beach and surrounding coastline; on a clear day, Catalina Island and the Palos Verdes Peninsula are also visible. A master bedroom includes a wrap-around deck and custom bathroom, and the property also includes an acre of “clifftop undeveloped land,” according to previous listings, with space to build an additional structure. .

The mini-domain relisted for $36 million last year, though it didn’t sell during its time on the market. Records show the place was transferred in a $24.5million deal last October, although it appears the buyer was again a Gillen-controlled trust and possibly a other investors, so this agreement could have been a kind of internal financial restructuring. In any case, Gillen flipped the house a few months later, in an off-market deal with Andreessen.

To date, Andreessen has spent more than $255 million in six months on his three Malibu homes, a staggering amount that’s hard to comprehend. But the 50-year-old Iowa native and his longtime wife Laura Arrillaga can afford it, of course. Forbes conservatively estimates Andreessen’s fortune to exceed $1.7 billion, while Arrillaga is the only daughter of late philanthropist John Arrillaga. At the time of his death, Arrillaga was a multi-billionaire and one of the largest landowners in Silicon Valley.

In addition to his cabins in Malibu, Andreessen reportedly owns a $36 million vacant lot just outside of Las Vegas and his longtime primary residence, a $16 million Tuscan villa-style mansion in Atherton, Calif. , which the family has owned since 2007.