Billionaire’s $10 million Malibu mansion survives LA wildfires

David Steiner, a Texas businessman, was shocked to learn that his $10 million Malibu mansion survived the catastrophic Palisades Fire, which has destroyed over 5,000 homes and businesses in the area.

His 4,200-square-foot, three-story home was the only one left standing in his neighborhood after the blaze, which has left a confirmed death toll of 10.

Steiner, who had been receiving updates from friends and family, initially feared the worst. "I started getting pictures and realized we had made it through," he told The New York Post. “It brought a pretty big smile to my face at a pretty bad time.” His wife’s message, which read, “Last house standing,” provided some relief amid the devastation.

When asked why he thinks his home survived, Steiner attributes it to the fire-resistant design of the property. “It’s stucco and stone with a fireproof roof,” he said. The mansion’s pilings, which extend 50 feet into bedrock, add to its stability. "It’s actually built like a cruise ship," he added, highlighting the unique features such as a fireplace chimney resembling a boat’s smokestack.

Despite his relief, Steiner expressed deep empathy for those who weren’t as fortunate. "What I lost is material goods. Others lost their homes," he said. Among those affected are several high-profile individuals, including Paris Hilton and Billy Crystal.

Steiner also acknowledged the greater devastation, stating, “I didn’t have my family’s mementos there. It wasn’t my family home. My heart goes out to those who lost their homes.”