A 65-foot yacht anchored near Paradise Cove burned down early Wednesday morning after catching fire Tuesday night shortly before midnight. The yacht’s owner escaped the flames by jumping in a dinghy and motoring to shore, according to City News Service. A Baywatch vessel for Los Angeles County lifeguards and the U.S. Coast Guard was called to the scene and extinguished the fire at about 12:19 a.m. Check The Malibu Times for more information as it becomes available.