A Korean-American entrepreneur has purchased an ultra-expensive mansion in Malibu.
Gideon Yu, a former big-tech executive turned investor and co-owner of the National Football League’s (NFL) San Francisco 49ers, recently acquired a coastal hillside home overlooking the ocean in Malibu for $52 million, as reported by SFGate.
This purchase marks the highest price ever paid for a home in the celebrity-rich Point Dume neighborhood, surpassing the previous record set in 2022 at $49 million, according to luxury living information source Rob Report.
Notable residents of the neighborhood include Bob Dylan, Sean Penn, Chris Martin, Julia Roberts, Owen Wilson, as well as Google co-founder Sergey Brin and Amazon founder Jeff Bezos.
The 0.76-acre property, purchased in 2020 for $22 million and extensively remodeled by a real estate developer with millions of dollars, boasts approximately 6,000 square feet of living space, featuring five bedrooms, seven bathrooms, a tennis court, and a pool.
Reportedly, Yu paid the entire sum in cash for the home. He relocated to LA with his wife after selling their residence in the Atherton neighborhood of Palo Alto, Northern California, for $24.5 million last year, subsequently purchasing a $9.5 million home in Sherman Oaks.
Born in South Korea in 1971, Yu graduated from high school in Nashville, Tennessee, before earning a bachelor’s degree in industrial engineering and a master’s in business administration from Stanford University. Yu later joined Silicon Valley and served as senior vice president of finance at Yahoo, as well as chief financial officer at YouTube and Facebook.
Appointed as co-owner of the 49ers in 2012, Yu also served as the NFL’s first Asian president from 2013 to 2014. In 2021, Yu was appointed to the board of directors of Hanmi Bank.
BY NAKI PARK, HOONSIK WOO [park.naki@koreadaily.com]
