It's just a game of Monopoly here in Malibu, with our local billionaires buying up properties like game pieces. David Geffen bought the Malibu Beach Inn last year and started a ground-up remodel, because paying $425 a night to sleep on PCH was really just slumming. Software hotshot Larry Ellison, who already owns two restaurants in town, broke locals' hearts when he bought the beloved Casa Malibu last month. He paid a reported $20 million for the sweet little inn on the sand. Speaking of restaurants, the popular and affordable Pier View, has remained closed since Ellison bought it a few years ago. Seems he can't quite decide what to do.

The Malibu Times says Ellison has bought 12 properties since moving to town in 2003, including the most beachfront of anyone on exclusive Carbon Beach. And he's not the only one looking to own a bit of the 'Bu. Here's the latest swath of story poles to go up - a new shopping center located just southeast of the library.