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Newest Tech Mogul in Town: Microsoft's Paul Allen

The newest technology mogul in Los Angeles this week appears to be Microsoft co-founder Paul Allen, according to a report from the Wall Street Journal. The report says that Allen has purchased beachfront property in Malibu, which was listed at $29.5M. Allen co-founded Microsoft with Bill Gates and is estimated to be worth $13.5 billion. It's unclear--and perhaps highly unlikely--that Allen, who also owns the Portland Trailblazers and Seattle Seahawks, intends to have anything to do with the local technology industry, as Malibu is known for many a vacation home of a jet set technology executive from out of the area. However, the addition of Allen does bolster the number of technology moguls with a presence in the area, albeit on paper.


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