Now, Chelsea, we are going to continue our saga of looking at how rich people deal with their emotions,
having bought all the land directly next to the water that is slowly rising.
Okay.
And what we have tagged rich people's emotions.
And yes, it's spelled the way you expect it and probably read in the title.
I do like it.
That's not bad.
Today, we head over to sunny California and just see a very different situation.
And I just love that like these cases are also unique from one another.
OK, but what's different?
Like, let me speculate.
Is it the way they don't want to give up their property?
Are they actually letting the help to become public somehow?
Are they?
Hmm.
Is there a cliff like giving way for them to fall in?
What makes it different?
Let's be vertical.
Have they just accepted that they are now underwater beings?
I actually know the answer.
So I shouldn't speculate too much.
So this one comes from the LA Times.
It's written August 13th, 2024 by Jack Fleming.
Billionaire accused of stealing sand from Malibu's broad beach lawsuit sets.
California's beaches are public, but on the sands of Malibu,
one billionaire has been accused of stealing a slice of paradise
or at least a few scoops of it for himself.
A lawsuit filed last week alleges that Mark Adonagio, billionaire businessmen
and owner of the Milwaukee Brewers baseball team,
has been using excavators to dig up sand from broad beach
and carry it back to his house as part of an ongoing construction project.
Here's a quote.
This case is about private property owners using a public beach as their own
personal sandbox and the disturbing conversion of a public natural resource
for a nearby homeowner's personal private use.
And quote the lawsuit says, the suit was filed by Adonagio's next door neighbor,
James Colberg, son of Jerome Colberg, who founded the global investment company
Colberg, Cravis Roberts and Co. So another billionaire.
Colberg lawyer accuses Adonagio's construction team,
jilk heavy construction of operating enormous excavators in tidal zones,
leaking oil and exposing local marine life to potentially hazardous byproducts.
The suit alleges that the construction restricted public access to the entirety of the beach.
Adonagio bought the broad beach home for 23 million in 2007.
A decade later, he picked up the neighboring property and empty lot for 6.6 million.
In March, the brewers owner obtained a permit to repair a damaged section of seawall,
according to the lawsuit.
And then June and July, excavators allegedly began dragging sand from the beach
onto his private property and also left gasoline residue in the water and sand.
Adonagio's attorney, Kenneth Erlich, said his client's company,
two XMD partners LLC, has acted in 100% compliance with all its permits.
Here's a quote from them.
Two XMD is in the midst of a fully permitted emergency repair of the property
to protect it from the ocean's forces.
It has secured all permits necessary for the repairs from the city of Malibu and LA County,
as well as thoroughly vetted all contractors and subcontractors involved in the project.
End quote, Erlich wrote in a statement.
Lawsuit, which accuses Adonagio of public nuisance, private nuisance and violation
of the California Coastal Act, calls for a stop to the construction for the sand be replaced
and for fines to be issued.
He disputes the stretch of sand, sits, just eats of La Cousa Point and Broad Beach,
a hyper exclusive enclave where celebrities and business
cyclists spend tens of millions of dollars for homes right on the water.
Over the years, the beach has been battered by violent storms and high tides,
leading to significant sand depletion.
And in 2015, high profile residents, including Dustin Hoffman, Ray Romano
and Pierce Brosnig committed to a $31 million restoration project to bolster the beach's sand.
In the last few decades, Malibu has emerged as one of the priciest pockets in the country.
Earlier this year, Oakley founder James Janard
sold his home there for $210 million, the priciest home sale in California's history.
During that time, as the ultra wealthy cram bigger and bigger homes
into Malibu's rugged mountains and along coveted beaches,
the community has become the centerpiece of a debate over development versus preservation
and the government's role in maintaining California's natural beauty.
End of article.
It's just it's somewhat the same as everything we've been looking at,
but it's also got just like it's the only unique emotional issues in it.
Hey, yeah, oh, I love how the billionaires are like getting upset.
No, at the end of it, it's a public beach, but it's a millionaire public beach
or a billionaire's public beach.
Like you saw the names of people who were storing it because they use it.
And you know, you know, it's too hard for non local people to actually get
there for it to be a real public beach.
Yeah. And plus it's a different kind of beach.
It's a billionaire beach.
Also, there's just a beautiful photo of the digger.
And sorry, I call it a digger just because out of habits, an excavator doing its work.
No, it's just, yeah, that's the excavator taking the sand.
Let me see it.
It's there.
Can you see it?
It's your point.
It's I'm sharing my screen.
Oh, hold on.
Like it's just kind of hilarious.
It's very the excavator is very fish out of water in this photo.
I like this one.
He also appears to be stealing ocean as well.
Yeah.
He does.
That's funny.
I mean, it's funny that there are you and but I don't really have an opinion about this
one.
Yeah, it's less.
I don't know.
It's hard to say where to fall.
Like obviously it's a public beach, so you shouldn't be taking from it, but it's also
an exclusive public beach.
And it's two pissed off billionaires at each other.
Well, exactly.
I think that's the funniest part of it.
But really, I stand not with one billionaire or the other billionaire.
I stand with no billionaires.
Okay.
Well, that's always a good place to stand for the orcas threaten less in that general
vicinity, I think.
I got to see that.
I want to be on their hip.
Probably just outside of that picture is a lurking orca just waiting for the right opportunity
to get in there and just do what he needs to do to that excavator as well.
And I'm sure that other billionaires are dealing with their emotions and perfectly constructive
ways as they lose their waterfront.
Actually, you know, it'd be an interesting place to try to see if there's anything
as Hawaii just because they do have so much beachfront property.
I wonder.
No, I think you have a lot more rights with regards to their beaches.
Until we started this category, which I don't think it's technically a category, but I'd
never realized there was such an issue with the beaches going away.
Well, and this is just one of those climate change issues that is secondary to the whole
thing of the climate's changing.
So this is one of the things that's going to be hit.
The beaches are going away.
Oh, yeah.
Some states are sinking.
There's definitely like islands that are basically not existent anymore.
There's definite changes that are happening.
And I'm sure within these 48 hours, if you just stare at the ocean long enough, something
will happen climate related.
So that's your project for the next 48 hours.
And then we'll see you here.
Bye.