EXCLUSIVE: Billionaire Ron Burkle Lists His Malibu Beach ‘Cottage’ for $20 Million—After Saving $2.7 Billion Soho House Privatization Deal

Billionaire Ron Burkle has had a busy week, not only stepping in to "rescue" exclusive members' club Soho House's flailing privatization deal—but also bringing his tony Malibu, CA, beach cottage to the market for the sky-high price of $19.9 million.

Burkle, who has a net worth of $3.7 billion, according to Forbes, is the founder of investment firm Yucaipa Cos., which primarily focused on the purchase and sale of large grocery store chains, before going on to claim stakes in several major tech companies, including Airbnb and Uber.

Privately, however, the billionaire has quietly built up a hugely impressive portfolio of real estate investments, including Michael Jackson's infamous Neverland Ranch, which he purchased for $22 million in 2020.

Two years later, he snapped up his beachfront Malibu abode, which is described in its listing as being located on "the sandiest section of The Colony," an exclusive gated community that has been home to a host of high-profile residents over the years.

Burkle paid $13.5 million for the five bedroom, 4.5-bathroom dwelling, which was built in 1928 but has been extensively renovated in the decades since.

According to property records, he purchased the home, which is now listed by Branden Williams of The Beverly Hills Estates, via an LLC registered to the same address as his nonprofit organization, The Ronald W. Burkle Foundation.

The listing hails the dwelling as being the epitome of Malibu living, describing it as offering a true image of "the golden age of The Colony," which is widely referred to as "the original Malibu," thanks to its star-studded origins and close Hollywood ties.

During a recent restoration by "preservation specialist" Tim Gleason, the home was described as a perfect blend of "the spirit of East-Coast Stanford White beach houses with a classic Malibu beach vibe."

At the heart of the home is a stunning great room with soaring ceilings and floor-to-ceiling windows that fill the space with sunlight—while a brick fireplace helps to add a cozy touch.

An enormous dining room with instant access to the back deck provides another picture-perfect space for gathering, in addition to the elegant kitchen, which features two huge islands, ideal for guests to prop themselves up while meals are being prepared.

The second floor is home to multiple bedrooms, all of which offer beautiful views of the home's surroundings.

Burkle's Malibu property is one of several historically significant homes that he has invested in over the years, including Frank Lloyd Wright's iconic Ennis House, which the billionaire bought for $4.5 million in 2011, restored, and then sold for $18 million in 2019.

"I tend to have too many houses. I tend to have too many houses in California," he told The Wall Street Journal in 2021. "It’s a nondefensible number."

The billionaire does not limit his real estate purchases to the Golden State, however, having also snapped up a staggering home in Montana for $10.5 million, a 22-acre property known as the Shelter Island Estate.

He also owns a triplex apartment in New York City, which is currently on the market for $32.5 million.

After Burkle purchased Neverland in 2020, eagle-eyed onlookers noticed that construction had quickly started in and around the property, leading some to suggest that the billionaire was transforming the property into a new Soho House venue.

However, he insisted to The Wall Street Journal that this was not the case, telling the outlet that he was simply hoping to return the dwelling to its former glory.

"It was kind of a depressing place. It wasn’t the beautiful place that it was before. It just needed flowers and life in it again," he said.

As for the estate's most infamous former owner and the unsavory accusations that had previously been made against him, Burkle, who served as a financial adviser to Jackson before his death, said that the rumors and speculation did not factor into his decision to buy the home.

"Michael Jackson hasn’t lived there in over 15 years," he pointed out.

As far as his commercial real estate enterprises are concerned, in becoming a controlling shareholder in Soho House, Burkle will also take a huge stake in the company's numerous venues across the globe, which include locations in London, New York City, Barcelona, and Toronto.

Rumors have also abounded in recent years that Soho House is set to open one of its Farmhouses in the New York area, with reports surfacing in 2023 that a property in Hudson had been earmarked as the latest venue in its lineup.

Burkle has long had ties to the elite members' club, having become the executive chairman of the board in 2012, nine years before the hospitality chain went public.

Now, Burkle has dramatically increased his role within the company, helping to salvage a $2.7 billion privatization deal that was at risk of collapsing after its lead equity partner, MCR Hotels, announced that it was no longer able to offer the $200 million it has vowed to contribute.

Instead, Burkle and Yucaipa have secured additional funding from other partners, including Morse Ventures, which is owned by MCR CEO Tyler Morse and has promised to contribute an additional $50 million in equity.

Founded in London in 1995, the club has been through a very rapid expansion in the last 10 years and now boasts 15 outposts in the U.K. and 17 venues in the Americas, including a Toronto base.

Soho House's plan to privatize once again was announced in late 2024, after a rocky four years, which many blamed on its decision to list on the New York Stock Exchange—a move that seemed to coincide with a major downturn in its financial successes.

Some blamed the company's decision to list on the NYSE for diluting Soho House's exclusivity—taking away from the elite status that it once held and giving the sense that it was much more open than it had ever intended to be.