Laurene Powell Jobs expands beachfront assemblage in Malibu with $17M buy

Laurene Powell Jobs has added a third property to her assemblage in Malibu’s Paradise Cove.

Jobs, the widow of Steve Jobs, paid $17.5 million for an oceanfront property that sits adjacent to her compound in the central Malibu neighborhood, according to celebrity real estate outlet Dirt.com. The deal brings her investment in Malibu land to about $80 million, not counting the cost of building out the compound.

Jobs’ new property is home to a 2,677-square-foot home built in 1956. The previous owner, restaurateur Sammy Chao, paid $1.75 million for the property in 1999. The home has five bedrooms and three bathrooms.

It sits on the southern edge of her larger property near the Paradise Cove Beach public parking lot. In fact, the main driveway is only accessible through that parking lot. The home has appeared in several television shows over the years, including “Charlie’s Angels” and “The Twilight Zone.”

Jobs first bought in the neighborhood in 2014, paying around $60 million for a property and adding to it over the years. The new home she is building on the property was heavily damaged in the Woolsey Fire in 2018.

Jobs is worth an estimated $19 billion and owns properties across the country, including three in Silicon Valley and one in San Francisco proper.

She has also assembled a large spread in Florida. In 2016, she paid $15 million for a 3.6-acre estate in the equestrian community of Wellington, and a year later bought a neighboring 7.2-acre property for $8.3 million. [Variety] — Dennis Lynch