New Zealand billionaire Nick Mowbray, co-founder of global toy empire Zuru, has sparked anger in California after he and his brother Mat bought 16 burned-out beachfront lots in Malibu, prompting fears they will turn the devastated coastline into luxury mega-mansions.
The acquisitions come a year after the January 2025 wildfires, the most destructive in Los Angeles history, which reduced more than 6,800 homes and buildings across Southern California to ash.
