Zuru CEO Nick Mowbray takes us inside its empire in Los Angeles where thousands of toys are on display. A Malibu leader has expressed concern that billionaire New Zealand brothers may price residents out of their community after the pair snapped up 16 plots burned in wildfires. Nick and Mat Mowbray, founders of toy company Zuru that also has interests in consumer goods and housing, bought plots on La Costa and Carbon beaches in Malibu for US$65 million ($110.7m), The Real Deal real estate news website reported in August. The properties are located amid wide stretches of Los Angeles that were devastated by wildfires in January 2025. Malibu City Councilman Steve Uhring told Los Angeles TV station KABC he’s concerned residents who lost their homes will be priced out of the area because he believes the New Zealanders will build mega-mansions on these plots.

Source: New Zealand Herald January 08, 2026 18:05 UTC