Philanthropist and entrepreneur Laurene Powell Jobs recently purchased her fourth Malibu property — a $94 million estate that spans four acres and overlooks the Pacific Ocean.
Jobs’ latest purchase is a 3,399 square foot house with four bedrooms and four bathrooms – though it is expected that she’ll demolish the building and expand her existing compound, according to the Los Angeles Times. The deal was completed off-market, but the available photos reveal that the house is an L-shaped 1950s mansion.
Jobs, the widow of Apple co-founder Steve Jobs, has steadily purchased in the posh California city over the last nine years. She first started buying up Malibu properties in 2015 with the purchase a mansion in the city’s Paradise Cove for $44 million. Two years later, she bought an adjoining house for $16.5 million. Four years after she spent $17.5 million on neighboring cottage, the Los Angeles Times reported.
Her latest purchase is the most expensive Southern California property deal this year, though it’s still several million dollars less than the nearby Malibu mansion that Jay Z and Beyoncé purchased last year.
In addition to the Knowles-Carters, Jobs’ Paradise Cove neighbors include Silicon Valley entrepreneur Marc Andreessen and WhatsApp co-founder Jan Koum.
Paradise Cove is among the most expensive neighborhoods in the United States, with a triple-wide trailer in a nearby mobile home park going for $5.3 million in 2016, according to the Los Angeles Times.
Originally from New Jersey, Jobs is the founder of the impact investing group the Emerson Collective and the manager of the Steve Jobs Trust.
She is also an investor in California Forever, a real estate development group, that plans to build a walkable city on repurposed farm land near Silicon Valley.