Octogenarian casino tycoon Sheldon Adelson seems determined to buy up all of Malibu Colony, the famed celebrity enclave that has, essentially since its 1920s founding, existed as Malibu’s most exclusive gated community.
There are approximately 120 properties in the Colony, and Adelson now owns at least nine of them, and counting. Records reveal he’s just splashed out nearly $17 million in an off-market deal for one particularly lavish oceanfront residence.
Adelson, the Republican party’s most financially generous benefactor, has owned a Malibu Colony home since at least the mid-’90s.
But he didn’t actually start buying out the neighbors until a few years ago — back in late 2013, he paid soap opera creator Lee Phillip Bell about $13.3
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