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New Zealand Billionaires Purchase Malibu Lots for $65 Million

1/7/2026

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Summary

Story summary

Nick Mowbray and Mat Mowbray, New Zealand billionaires, bought 16 Malibu lots for over $65 million.
Zuru Tech Us LLC, the Mowbrays' company, plans to use factory-built homes made in China.
The designs are unique and completed in four to six weeks.
Malibu city officials have not received any building permit applications for the project.
The Mowbrays are among New Zealand's wealthiest, with NZ$20 billion.

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Story summary

Nick Mowbray and Mat Mowbray, New Zealand billionaires, bought 16 Malibu lots for over $65 million.
Zuru Tech Us LLC, the Mowbrays' company, plans to use factory-built homes made in China.
The designs are unique and completed in four to six weeks.
Malibu city officials have not received any building permit applications for the project.
The Mowbrays are among New Zealand's wealthiest, with NZ$20 billion.