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Cambodia calls for ceasefire with Thailand: envoy to UN
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The Pentagon Gets Serious About Drones
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Grant Cardone Lost ‘Half' of His $65 Million Mansion in Cali Wildfire, Says ‘Revolt and Protest' New Plan to Turn Land Into Low-Income Housing
Prominent real estate investor and media personality Grant Cardone is at the center of a heated political and housing controversy after his Malibu mansion was severely damaged in the catastrophic Palisades fires of January 2025. Cardone has since emerged as a leading critic of California's disaster response, blasting state officials for what he calls years of 'mismanagement, incompetence, and missed priorities' both in the handling of the wildfires and the state's subsequent recovery plans. Cardone's $65M Malibu Mansion in Ruins Cardone's renowned Carbon Beach property, which was listed for sale as high as $65 million before the fire, stood as a symbol of Malibu affluence. Firefighters fought valiantly to save what they could, but videos and photos posted by Cardone show extensive devastation: blackened ruins of a palatial lounge, a scorched oceanfront deck, and large portions of the 9,500-square-foot home reduced to rubble. Cardone publicly stated he lost 'half' of his mansion to the flames. More News from Barchart This Self-Driving Car Stock Is Surging on a Major Nvidia Boost UnitedHealth Stock Spirals Lower Again. Don't Buy the Dip. UNH Stock Falls as UnitedHealth Confirms DOJ Probe. How Should You Play Shares Here? Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. The estate, which Cardone personally renovated with over $1 million in upgrades, was 'the last one standing among the row of scorched mansions' on Carbon Beach, according to images shared in the aftermath. The Cardone family, known for their ties to the Malibu and Santa Monica communities, is now among thousands forced to rebuild or relocate. Cardone's Fierce Public Critique Cardone quickly pivoted from personal tragedy to public advocacy, taking to social media to rail against California's leadership. He dismissed the prevailing narrative that climate change was the primary culprit behind the wildfires, arguing instead that the true causes were 'government incompetence, neglected infrastructure, overregulation, and spending billions on pet projects instead of fire prevention.' In a viral tweet, Cardone charged: 'California Fires will be blamed on Climate Change but do NOT believe it. These fires will produce $100's of billion in losses due to incompetence, corrupted budgets, an oppressive coastal commission, over regulation, bizarre environmental initiatives, homeless camps, and freak liberal agendas all combined with NO COMMON SENSE,' he wrote, directly blaming Governor Gavin Newsom for failing to invest in long-term solutions such as burying electrical lines, managing forest floors, and expanding water access. In television appearances and subsequent interviews, Cardone escalated his attacks, calling on Governor Newsom to resign and urging affected residents to join a class action lawsuit against state and local authorities. He alleged the Los Angeles Department of Water and Power shared blame due to suspected electrical failures that may have sparked the fires. Cardone's rallying cry — 'Revolt and protest' — has resonated with a segment of fire-ravaged Californians, drawing both support and speculation about his future political aspirations. Battling California's Response: Accusations of a 'Land Grab' The controversy intensified with the introduction of California's Senate Bill 549, which enables the state to acquire burned properties for affordable redevelopment and establishes a 'Resilient Rebuilding Authority.' Cardone's response was unequivocal: 'You guys think California 'land grab' was just a conspiracy?... California passes bill to buy Palisades fire-ravaged homes.' He maintains that the measure, compelling the sale and redevelopment of luxury lots into low-income and multi-family units, erases property rights and exploits disaster for governmental expansion. It's an accusation state officials deny, citing the urgent need for safe, affordable housing and climate resilience. A Divided Community While Cardone garners support for his outspoken activism, critics note his position as a multimillionaire homeowner contrasts with families desperate for affordable housing and those who lost far more in the fires. Nonetheless, his willingness to pursue legal action — he's reportedly fielding over 1,000 responses from other potential plaintiffs — could shape the coming legal and political battle over California's wildfire recovery. As rebuilding begins, Cardone's mansion, now little more than charred frames and ash, stands as a dramatic backdrop to a wider debate: whether California's bold new policies represent hope and recovery, or, as Cardone insists, a failure of government stewardship and respect for property rights. On the date of publication, Caleb Naysmith did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
