Chicago billionaire buys David Geffen’s Malibu home
June 15th, 2017
Chicago billionaire Mark Walter has bought a little vacation home in Malibu for $85 million.
The founder and CEO of Chicago-based Guggenheim Partners, a global investment firm, bought the beachfront compound from another billionaire–media tycoon David Geffen.
It’s a natural that Walter, who has an estimated net worth of $2.5 billion, would buy a home in La La Land. He is the owner of the Los Angeles Dodgers, so he spends a lot of time out West.
He bought a home with some notoriety. Geffen put up fake garage doors to keep beach goers from parking in front of his home, a move that prompted a good poke by comedian Stephen Colbert.
Read more about Chicago billionaires in my Taking Names column in the Chicago Sun-Times.