Sam Wyly and Daughter Selling Off 20 Acre “Eco Estate” In Malibu: Dallas Real Estate Second Home News

More proof that the high end market is getting stronger, particulary in and around LA. And millionaires are getting more earth friendly every single day! Sam Wyly and his daughter, Christiana, are selling a four-bedroom, four-bath home at 1300 Greenleaf Canyon Road in Malibu for $2.995 million. The eco-estate, so called because of the extensive renovation done embracing not only the earth but the latest in green finishes and technology, as well as strategies for healthier and more efficient living (?). The 20 acre estate is minutes from beautiful Topanga Canyon, and features a huge great room with rock fireplace, kitchen with everything you or your gourmet chef could ever need, three bedrooms, numerous decks, glass French doors, guest house fully equipped with a kitchen and bath that opens to an organic garden — may  be a nice way of saying quarters for the organic house manager or gardener — lap pool, and views views views of a huge California oak forest, crisp spring-fed stream, and mountains.

According to property records, the Wylys paid $2,275,000 for the property in Feb. 2006. I am sure they added at least half a million given the thoughtful, green scope of the renovations. The 2,400-square-foot house was built in 1977 in the Monte Nido area of Malibu Coastal Zone. Drew Snyder and Sarah Sutton of Snyder Sutton Real Estate are listing the home — do check out this place!

Sam Wyly is, of course, a Dallas entrepreneur and businessman, and the billionaire co founder of Sterling Software who was born during the Great Depression. He has also dabbled with ownership in Bonanza Steakhouse, Michaels Stores (arts and crafts, I believe they went bankrupt or closed) and Maverick Capital, a hedge fund, among others. The Louisiana Tech grad was a salesman with IBM’s Service Bureau Corp. and became the area sales manager for Honeywell. He holds an M.B.A. from the University of Michigan’s School of Business. In 2010, the SEC charged brothers Samuel E. Wyly and Charles J. Wyly, Jr. with violating federal securities laws governing ownership and trading of securities by corporate insiders. The Wyly brothers, the SEC said, reaped more than $550 million in undisclosed gains while sitting on corporate boards by trading stock in those public companies through hidden entities located in foreign jurisdictions  — i.e. offshore tax havens — to conceal their ownership and avoid Mr. Tax Man. All this sounds really awful, but is just doing “bidness” when you’re a billionaire I guess, or get bad advice. The Wylys have also been major league donors to Republican and conservative causes over the years. According to The New York Times,

“The Center for Responsive Politics found that the brothers and their families donated nearly $2.5 million to roughly 200 federal-level candidates and committees in the last 20 years. But after it was reported in 2006 that the Wylys were the subject of federal tax investigations, some Republicans distanced themselves from the pair. That year, Senator John McCain, Republican of Arizona, who was planning a presidential bid, and Senator Bill Frist, Republican of Tennessee, then the Senate majority leader, returned $20,000 and $5,000 in donations, respectively, from the Wyly brothers and their relatives.”

Not sure how the SEC investigation panned out for the Wyly brothers. But it appears Sam has been very involved in environmental businesses the last few years, including buying the landmark Explore bookstore in Aspen in 2007, on the market for $5.2 million and founded by a left leaning liberal named Katherine Thalberg. But Explore staff members reported seeing Sam Wyly sitting on the floor at the store often, reading books, and cherished having an independent bookstore in the community. Wyly is also reported to be a vegetarian and founder of Green Mountain Energy. The Wylys also developed nine homes on  245-acre Woody Creek ranch near Aspen in 2001. 

Wyly’s daughter, Christiana, is an environmental advocate and operating partner at Satori Capital, an investment firm. She is an adviser for Climatecom Strategies, which provides communication strategy and research for climate change advocates. Christiana was previously a founding partner of Zaadz.com, a social networking service, whch she sold in 2007 to Gaiam. Sam has a home in Dallas at 3905 Beverly Drive, 7579 square feet built in 1925 but remodelled in 1990 that he pays about $105,000 in taxes on and is appraised by Dallas county at $6,759,000.