-Casa Malibu, a historic PCH hotel operating on Carbon Beach, closed, soon to be replaced by a smaller, newer and much more upscale Nobu Hotel by billionaire owner Larry Ellison, who bought the property back in 2007 for $20 million.
-Ellison, a local real estate baron and founder of the software company Oracle, came in third again in Forbes Magazine’s list of wealthiest Americans, with an estimated worth of $41 billion. Over the years, Ellison has been a steady buyer of Malibu real estate and businesses. He owns upscale eateries Nobu and Nikita, the Malibu Racquet Club, the former Casa Malibu Inn (now in extensive renovation), and numerous properties on Malibu’s Carbon Beach and in the Serra Retreat neighborhood. He recently picked up 98 percent of Lanai, an island in the Hawaiian chain.
-The California Public Utilities Commission (CPUC) approved the settlement of two of the cases in connection with the 2007 Malibu Canyon fire caused by overloaded poles. The $51.5 million settlement includes $37 million from Edison and $14.5 million from NextG.
