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Jason Ma

An investor who spent $27 million on a mansion that burned down on 'Billionaire's Beach' only expects $3 million from insurance

Insurance Malibu FAIR California Haute Living

(Credit: Mario Tama—Getty Images)

Real estate investor Robert Rivani reportedly spent $27 million buying and renovating a luxury beachfront home in Malibu. After it burned down in the Palisades fire last week, he only expects a $3 million insurance payout.

Real estate investor Robert Rivani spent $27 million buying and renovating a luxury beachfront home on Malibu's famed "Billionaire's Beach," but only expects a fraction of that amount from an insurance payout after it burned down.

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