Paul Allen buys Malibu mansion

July 05, 2010 - California

By Juliet Chung from The Wall Street Journal Asia

Microsoft Corp. co-founder Paul Allen has bought a contemporary oceanfront home in Malibu, Calif., through a corporation, for more than $25 million.

The modular, white stucco-and-glass house is on Carbon Beach, the "Billionaire's Beach" where Hollywood moguls David Geffen and Jeffrey Katzenberg are owners.

The roughly 5,800-square-foot home, listed for $29.5 million, has five bedrooms, a deck with a pool, a gym and a screening room, according to the listing.

Mr. Allen, who started Microsoft in 1975 with his childhood friend Bill Gates, owns the NFL's Seattle Seahawks and the NBA's Portland Trail Blazers, three yachts and significant real-estate holdings in Seattle.

A spokesman for Mr. Allen said he has given away more than $1 billion and declined to comment on the house.

Cathy Bindley of Sotheby's International Realty represented Mr. Allen. Stephen Shapiro of Westside Estate Agency, who declined to comment, represented the seller, Charles Perez, an apparel executive.

This article has been republished from Wall Street Journal

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