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Now, Chelsea, we are going to continue our saga of looking at how rich people deal with their emotions,

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having bought all the land directly next to the water that is slowly rising.

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Okay.

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And what we have tagged rich people's emotions.

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And yes, it's spelled the way you expect it and probably read in the title.

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I do like it.

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That's not bad.

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Today, we head over to sunny California and just see a very different situation.

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And I just love that like these cases are also unique from one another.

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OK, but what's different?

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Like, let me speculate.

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Is it the way they don't want to give up their property?

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Are they actually letting the help to become public somehow?

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Are they?

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Hmm.

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Is there a cliff like giving way for them to fall in?

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What makes it different?

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Let's be vertical.

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Have they just accepted that they are now underwater beings?

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I actually know the answer.

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So I shouldn't speculate too much.

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So this one comes from the LA Times.

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It's written August 13th, 2024 by Jack Fleming.

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Billionaire accused of stealing sand from Malibu's broad beach lawsuit sets.

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California's beaches are public, but on the sands of Malibu,

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one billionaire has been accused of stealing a slice of paradise

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or at least a few scoops of it for himself.

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A lawsuit filed last week alleges that Mark Adonagio, billionaire businessmen

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and owner of the Milwaukee Brewers baseball team,

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has been using excavators to dig up sand from broad beach

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and carry it back to his house as part of an ongoing construction project.

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Here's a quote.

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This case is about private property owners using a public beach as their own

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personal sandbox and the disturbing conversion of a public natural resource

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for a nearby homeowner's personal private use.

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And quote the lawsuit says, the suit was filed by Adonagio's next door neighbor,

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James Colberg, son of Jerome Colberg, who founded the global investment company

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Colberg, Cravis Roberts and Co. So another billionaire.

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Colberg lawyer accuses Adonagio's construction team,

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jilk heavy construction of operating enormous excavators in tidal zones,

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leaking oil and exposing local marine life to potentially hazardous byproducts.

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The suit alleges that the construction restricted public access to the entirety of the beach.

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Adonagio bought the broad beach home for 23 million in 2007.

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A decade later, he picked up the neighboring property and empty lot for 6.6 million.

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In March, the brewers owner obtained a permit to repair a damaged section of seawall,

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according to the lawsuit.

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And then June and July, excavators allegedly began dragging sand from the beach

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onto his private property and also left gasoline residue in the water and sand.

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Adonagio's attorney, Kenneth Erlich, said his client's company,

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two XMD partners LLC, has acted in 100% compliance with all its permits.

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Here's a quote from them.

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Two XMD is in the midst of a fully permitted emergency repair of the property

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to protect it from the ocean's forces.

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It has secured all permits necessary for the repairs from the city of Malibu and LA County,

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as well as thoroughly vetted all contractors and subcontractors involved in the project.

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End quote, Erlich wrote in a statement.

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Lawsuit, which accuses Adonagio of public nuisance, private nuisance and violation

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of the California Coastal Act, calls for a stop to the construction for the sand be replaced

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and for fines to be issued.

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He disputes the stretch of sand, sits, just eats of La Cousa Point and Broad Beach,

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a hyper exclusive enclave where celebrities and business

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cyclists spend tens of millions of dollars for homes right on the water.

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Over the years, the beach has been battered by violent storms and high tides,

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leading to significant sand depletion.

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And in 2015, high profile residents, including Dustin Hoffman, Ray Romano

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and Pierce Brosnig committed to a $31 million restoration project to bolster the beach's sand.

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In the last few decades, Malibu has emerged as one of the priciest pockets in the country.

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Earlier this year, Oakley founder James Janard

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sold his home there for $210 million, the priciest home sale in California's history.

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During that time, as the ultra wealthy cram bigger and bigger homes

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into Malibu's rugged mountains and along coveted beaches,

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the community has become the centerpiece of a debate over development versus preservation

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and the government's role in maintaining California's natural beauty.

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End of article.

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It's just it's somewhat the same as everything we've been looking at,

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but it's also got just like it's the only unique emotional issues in it.

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Hey, yeah, oh, I love how the billionaires are like getting upset.

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No, at the end of it, it's a public beach, but it's a millionaire public beach

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or a billionaire's public beach.

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Like you saw the names of people who were storing it because they use it.

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And you know, you know, it's too hard for non local people to actually get

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there for it to be a real public beach.

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Yeah. And plus it's a different kind of beach.

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It's a billionaire beach.

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Also, there's just a beautiful photo of the digger.

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And sorry, I call it a digger just because out of habits, an excavator doing its work.

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No, it's just, yeah, that's the excavator taking the sand.

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Let me see it.

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It's there.

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Can you see it?

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It's your point.

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It's I'm sharing my screen.

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Oh, hold on.

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Like it's just kind of hilarious.

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It's very the excavator is very fish out of water in this photo.

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I like this one.

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He also appears to be stealing ocean as well.

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Yeah.

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He does.

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That's funny.

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I mean, it's funny that there are you and but I don't really have an opinion about this

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one.

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Yeah, it's less.

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I don't know.

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It's hard to say where to fall.

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Like obviously it's a public beach, so you shouldn't be taking from it, but it's also

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an exclusive public beach.

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And it's two pissed off billionaires at each other.

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Well, exactly.

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I think that's the funniest part of it.

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But really, I stand not with one billionaire or the other billionaire.

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I stand with no billionaires.

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Okay.

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Well, that's always a good place to stand for the orcas threaten less in that general

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vicinity, I think.

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I got to see that.

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I want to be on their hip.

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Probably just outside of that picture is a lurking orca just waiting for the right opportunity

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to get in there and just do what he needs to do to that excavator as well.

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And I'm sure that other billionaires are dealing with their emotions and perfectly constructive

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ways as they lose their waterfront.

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Actually, you know, it'd be an interesting place to try to see if there's anything

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as Hawaii just because they do have so much beachfront property.

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I wonder.

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No, I think you have a lot more rights with regards to their beaches.

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Until we started this category, which I don't think it's technically a category, but I'd

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never realized there was such an issue with the beaches going away.

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Well, and this is just one of those climate change issues that is secondary to the whole

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thing of the climate's changing.

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So this is one of the things that's going to be hit.

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The beaches are going away.

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Oh, yeah.

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Some states are sinking.

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There's definitely like islands that are basically not existent anymore.

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There's definite changes that are happening.

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And I'm sure within these 48 hours, if you just stare at the ocean long enough, something

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will happen climate related.

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So that's your project for the next 48 hours.

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And then we'll see you here.

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Bye.

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Bye.