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LA Fire Survivors Fear Mega-Mansion Takeover
7 Jan
Summary
- New Zealand billionaires bought 16 wildfire-burned lots in Malibu.
- Locals fear land acquisition will lead to unaffordable mega-mansions.
- Rebuilding in Malibu lags, with only 22 permits issued since fires.
Locals in Malibu are expressing deep concern following the purchase of 16 wildfire-burned plots by New Zealand billionaire brothers Nick and Mat Mowbray. The brothers, founders of the global toy empire Zuru, acquired the land through their tech company, Zuru Tech, which is investing in AI-designed homes manufactured in China. Residents fear the Mowbrays intend to combine the lots to construct mega-mansions, making the area unaffordable for those who lost their homes in the January 2025 fires.
Malibu City Councilman Steve Uhring voiced his apprehension, stating that the community needs homeowners invested in its future. He suspects the brothers, as billionaires, are primarily motivated by profit. Zuru Tech's director of operations, Marcel Fontijn, countered these fears, asserting their intent is to genuinely help rebuild Malibu with fire-safe, prefabricated homes, with pricing determined by market conditions upon listing.
