Billions of Dollars Couldn't Keep Larry Ellison's Nikita Afloat

Nikita Malibu, the massive restaurant funded by billionaire Oracle CEO Larry Ellison, shuttered without notice on December 27. The seaside Mediterranean eatery, helmed by Michelin-starred chef Massimiliano Blasone and named after Ellison's girlfriend, closed abruptly with a voicemail stating that the place had "ceased operations."

Does this mean that the concept is changing in the new year? Certainly Ellison, who's been on a real estate binge in Malibu over the past few years, can afford to keep even an albatross such as Nikita afloat. Open for just a year and a half, Nikita is one of many premiere dining destinations in Malibu that offer near perfect ocean views, but it just couldn't keep up with the competition. What's next for this prime restaurant space?