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Sheldon Adelson Spends $17 Million on His Ninth Malibu Colony House
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.