David Geffen, a billionaire entertainment mogul and philanthropist, seems to have cashed in a big paycheck recently. As it turns out, the DreamWorks co-founder sold his Malibu property on the elite Billionaire's Beach for $85 million.
The estate is actually made up of "two oversized parcels [of land] that were originally five, at least one of which was once owned by Doris Day" that Geffen first purchased back in 1970 and 1999.
Geffen decided to combine the two lots to create two large homes (a main house and a guest house), as well as a swimming pool, screening room, a five-car garage, and majestic greenery complete with a lily pond, all closed off with some hedges.
In fact, Variety reports that the home has several amenities you'd likely see in a resort:
"The walled, gated and always guarded compound comprises: a two-story grey-shingled main residence with several ocean-side verandas plus an outdoor living room with fireplace; a separate and also grey-shingled guesthouse with wrap around porch; and a petite pool house."
The home has a good location too: it's surrounded by the beach and is even near the ultimate go-to places in Malibu. Business Insider reports:
"The five-parcel estate on sought-after Carbon Beach (a one-mile section named "Billionaire's Beach") is right in the thick of Malibu and boasts a nice stretch of beachfront. Situated between the Pacific Coast Highway and the water, and surrounded by hotspots like the Malibu Pier and Nobu Restaurant, it's a fine spot to call home."
Indeed, the estate is definitely a great place to call home - especially if you've got neighbors like Oracle billionaire Larry Ellison, and former Los Angeles Dodgers boss Jamie McCourt, among many others.
The home was on the market last year as well. In a private listing, the compound had $100 million asking price.
