Can’t stop, 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 bought both a $177 million Paradise Cove estate and a $44.5 million home on nearby Escondido Beach. Now he’s done it yet again, splashing out a relatively paltry $34 million to buy a property immediately adjacent to the big Paradise Cove compound.
Andreessen acquired this latest house via an entity called “Paradise Shack LLC” — that’s right, he would like everyone to know this place is just a $34 million “shack” to him.
But to mere financial mortals, this is actually a very luxe and spacious house. Set below the Paradise Cove bluffs, right on the sandy beach, it spans about 3,600 square feet of living space, with two beds and three baths. Built in 1973, the property was sold by its original owners in 2016 for $18 million. The buyers were a group of investors fronted by Scott Gillen, a prominent Malibu architect and real estate developer, who subsequently gave the spread a contemporary remodel featuring lots of exposed wood and creamy white paint within.
A central great room marrying the kitchen, living and dining spaces overlooks the home’s 57 feet of beach frontage. Walls of glass capture majestic views of the entire Paradise Cove beach and surrounding coastline; on a clear day, Catalina Island the Palos Verdes Peninsula are also visible. A primary bedroom suite includes a wraparound deck and a custom bathroom, and the property also includes an acre of “undeveloped land atop the bluff,” per previous listings, with space to build an additional structure.
The mini-estate was put back up for grabs at $36 million last year, though it didn’t sell during its time on the market. Records show the place transferred in a $24.5 million deal last October, though it appears the buyer was again a trust controlled by Gillen and possibly other investors, so that deal may have been some sort of internal financial restructuring. In any case, Gillen flipped the house a few months later, in an off-market deal to Andreessen.
As of now, Andreessen has spent more than $255 million in six months for his three Malibu homes, a brain-twisting sum that is difficult to fathom. But the Iowa native, 50, and his longtime wife Laura Arrillaga can well afford it, of course. Forbes conservatively estimates Andreessen’s fortune tops $1.7 billion, while Arrillaga is the only daughter of late philanthropist John Arrillaga. At the time of his death, Arrillaga was a multibillionaire and one of Silicon Valley’s largest landowners.
In addition to his Malibu shacks, Andreessen reportedly owns a $36 million vacant lot just outside Las Vegas and his longtime main residence, a $16 million Tuscan villa-style mansion in Atherton, Calif., that the family has owned since 2007.