The billionaire CEO of Paycom just paid $26.5 million for a beachfront Malibu mansion that took 12 years to build and blends into the rocks. Take a look inside.

  • Paycom CEO Chad Richison, just paid $26.5 million for a secluded Malibu estate that sits right on the beach, James McClain first reported for Dirt, a luxury real-estate news site.
  • Richison bought the home from attorney Dale Kinsella and skincare company founder Liz Edlich, who picked up the property in 2000 and spent 12 years building the beach house, per Dirt.
  • The 3,800-square-foot home, which has three bedrooms and five bathrooms, is built right into the rocks on the edge of the water.
  • Richison’s new neighbors include Lady Gaga and Red Hot Chili Peppers bassist Flea, Shawn Elliott of Nest Seekers International, who co-brokered the sale with Douglas Elliman, told Business Insider.
  • Visit Business Insider’s homepage for more stories.

Chad Richison, the CEO of payroll technology company Paycom, just paid $26.5 million — the full asking price — for a secluded Malibu beach house, Dirt reported.

The home, known as Il Pelicano, boasts a secluded location on the beach that sets it apart from the nearby homes above on the cliff, Shawn Elliott of Nest Seekers International, who co-brokered the sale with Douglas Elliman, told Business Insider. (Shirley Sherman of Douglas Elliman, who also held the listing, declined to comment.) 

“This is really the epitome of luxury,” Elliott said of the home. “You can be in anywhere in this house. You can be in the South of France, the Cote d’Azur, and you wouldn’t know it. This house is just a piece of heaven. I think that’s why it went for full price.”

Richison, who’s worth $3.6 billion according to Forbes, bought the property from Radical Skincare CEO Liz Edlich and attorney Dale Kinsella, who paid $2 million for the property in 2000 and spent 12 years building the beach house, according to Dirt.

Look inside the Paycom CEO’s new home.

View original article here Source