MALIBU—Chad Richison the founder and chief executive of payroll processor Paycom has just bought a resident in Malibu California. Richison purchased the Tuscan-style home for $26.5 million.
The Il Pelicano estate was occupied by sellers Liz Edlich a skincare entrepreneur and trial attorney Dale Kinsella. The estate was originally purchased back in 2000 for $2 million.
Free from neighbors and direct access to two private beaches nearby.
The home features a long and steep driveway blending into the rocks leading down the Pacific Coast Highway and into a private motor court.
Over the next twelve years the couple had received numerous permits to enhance the two story, 3,800-square-foot, four bedroom, four and a half bathrooms, and manages to blend into its natural surroundings.
When you first step on the porch you are greeted by antique doors imported from France, along with home exterior, and imported stone from Italy.
Inside the home is filled with one-of-a-kind artifacts from Edlich travels.
The chandelier hanging in the kitchen came from a fossilized Amazonian jungle vine. The intricately carved mantle hanging over the fireplace was originally part of an antique stone door purchased in India. Another personal touch is going to be a hand carved ceiling fan shipped from Sri Lanka that is 200 years old. The sink within the powder room is made up of fossilized clam shell that was pulled from the bottom of the ocean.
Richison, 50, first started out his career in sales for ADP before his journey as founder of Paycom in 1998. The Oklahoma native start up is one of the original first companies to process payroll completely online.
To date the firm is one of the fastest growing within the United States with shares skyrocketing past last year projections. Richison’s network has also grew from $1.5 billion last year to a $3.6 billion to date.
