Last October, billionaire Sheldon Adelson purchased yet another piece of the Malibu Colony, spending $14.7 million on a French-inspired 4,000-square-footer that expanded his footprint in the desirable celebrity enclave just...

Sheldon Adelson bought up another slice of Malibu’s Colony neighborhood this month. The Colony is the original part of Malibu that was co-opted by a number of Golden Age Hollywood...