Laurene Powell Jobs just spent $17.5 million for her third property in a row in Paradise Cove, according to Variety. She bought her first property in 2015 for $44 million and demolished the mansion that was there. In 2017, she paid $16.5 million for the place next door. Her rebuild of the entire compound was then destroyed by the Woolsey Fire in 2018, but construction continues. Just recently, records show her off-market deal to purchase yet a third adjacent property for $17.5 million—a unique cottage.
The smallish, 2,677-square-foot cottage is located right on the sand in prime Paradise Cove, with its driveway directly off the end of the public Paradise Cove parking lot. Built in 1956, it appeared in numerous episodes of many of the biggest TV shows of the ‘70s and ‘80s, including “The Rockford Files,” “Charlie’s Angels,” “Dallas,” “T.J. Hooker,” “The Waltons,” “Mod Squad” and “The Twilight Zone.”
The property had been owned since 1999 by Hong Kong-born Sammy Chao, restaurateur and owner of several nightclubs.
Reportedly worth $26.8 billion (according to Bloomberg Billionaires Index), the philanthropist and widow of Apple founder Steve Jobs, 59, is also the founder of Emerson Collective, which supports social entrepreneur and education-oriented firms. She also owns The Atlantic news organization, sits on the board of Stanford University and is a founding member of the Climate Leadership Council nonprofit. In the past five years, she’s become a Democratic Party mega donor. Jobs has an MBA from Stanford and also owns properties in Silicon Valley, Florida and San Francisco.