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Is Malibu turning into the Larry Ellison beach club?
Is Malibu turning into the Larry Ellison beach club?

The membership roll in Malibu's unofficial Billionaire's Beach club is shrinking. Former Yahoo Inc. Chief Executive Terry Semel and his wife, Jane, have sold their spot to Oracle Corp. CEO Larry Ellison, who already has eight other houses along Carbon Beach. The couple, who had most recently priced their Michael Graves-designed oceanfront compound at $40 million, sold for $36,943,890. The sale is the most expensive so far this year in Malibu. The three-quarter-acre lot includes three structures. The main house is entered through a three-story rotunda crowned by a skylight. Circular windows and openings throughout the contemporary home lend it a nautical vibe. A copper-roofed...

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