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Philanthropist's Malibu Beach House May Quietly Ask $49M

Rumor has it that that L.A.'s philanthropy empress Wallis Annenberg, the last surviving child of billionaire media mogul and professional elbow-rubber Walter Annenberg, is quietly shopping around her recently renovated mansion on the Malibu coast for a not-quiet-at-all $49M. Annenberg, now in her seventies, bought the property in 2006, then a cedar-shingled, outdated abode, for $22.75M. Shortly after, she recruited architect Frederick Fisher for a massive overhaul, trading out what The Real Estalker calls "1970s-ish contemporary" for "a new-fangled study of slate gray stucco, shimmering glass, and horizontally applied Ipe wood cladding."

"The house was a '70s period piece that had very good bones. It just needed opening up," Fisher told C magazine in 2011, which dubbed the place "a modernist's fortress." In all, the pad, which Curbed LA once lovingly called "Annenberg's Lovely Frat Boy Den in Malibu," boasts five bedrooms—$10M per bedroom? Totally reasonable. Totally.—6,913 square feet and bragging rights for having been featured in Town & Country in Oct. 201. No listing pics since this is all hush-hush, but take a mini-tour of the place above.

· Your Mama Hears... [The Real Estalker via Curbed LA]
· Wallis Annenberg's Lovely Frat Boy Den in Malibu [Curbed LA]
· Malibu Modern [C Magazine]