After Buying Spree, Ellison Tinkers with Malibu Properties

Oracle CEO Larry Ellison has spent in the neighborhood of $200 to $250 million buying up at least nine homes on Carbon Beach.

Ellison has also dropped millions on an estate in Serra Retreat, the Casa Malibu Inn, Malibu Tennis Club and coastal restaurant properties, including Nobu Malibu. The software mogul could own even more in Malibu making purchases using limited liability companies, popular among the rich.

The software mogul does not open up to the media, but described himself as one who loves to tinker with houses as a hobby in an interview with CNBC last year. 

"When I was a kid, the first thing I ever wanted to be was an architect," Ellison told CNBC. "So I love building houses, remodeling houses, designing houses, converting houses."

"He has been very good for Carbon Beach," Jack Heidt told the Los Angeles Times.

Heidt, who's family had a weekend home at Carbon for 60 years before selling five years ago, said Ellison has kept his Carbon properties up, leased them out and redone them.

After acquiring so many properties, tinkering may be the next step for Ellison in Malibu. 

At its May 6 meeting, the Malibu Planning Commission approved renovations plans for the Casa Malibu Inn. The motel has not been renovated since its original construction in 1950. The motel has a long history, and is rumored to be a secret escape for actress Lana Turner.

Read more at Los Angeles Times.com.