Beverly Hills romance: with new wife, Viacom's Sumner Redstone switches coasts.

With his decision to make Beverly Hills his full-time home, media mogul Sumner Redstone will likely become L.A.'s wealthiest Angeleno.

Redstone, the octogenarian who started with a chain of movie theaters and built media giant Viacom Inc., has a net worth of $10 billion, based on the company's stock price last week. That's compared with hometown businessman Eli Broad, who topped the Business Journal's Wealthiest Angelenos list earlier this year with an estimated net worth of $5.9 billion.

Broad's net worth, tied to his large holdings in American International Group stock, has fallen to about $4.1 billion over the past five months.

Redstone decided to move to Los Angeles full-time after divorcing his former wife last year and in April marrying Paula Fortunato, a former schoolteacher half his age.

The former New York resident follows the step of another media billionaire, News Corp. founder Rupert Murdoch, in moving to Tinseltown. Murdoch, an Australian emigre, had a stint on the Business Journal's Richest list until he married a much younger woman and spent more of his time in New York.

With his new wife, Redstone has taken up residence in the exclusive neighborhood of Beverly Park, displacing Steven Udvar-Hazy, co-founder of aircraft leasing firm International Lease Finance Corp., as richest guy in the neighborhood.

Redstone's 15,000 square-foot residence, which he picked up for $14 million last year, has a view of downtown Beverly Hills, as well as several fountains, marble floors and an indoor pool. It is also equipped with an audio system wired throughout the compound.

"It's very modern with high ceilings and very large rooms--just plain unbelievable," said Drew Madille of Sotheby's International Realty, who toured the place before Redstone bought it.

Actor Sylvester Stallone, who sold the compound to Redstone, is a neighbor in the gated community, as is Larry Flax of California Pizza Kitchen fame and entertainment legal guru John Branca. The biggest home, a 60,000 square-foot compound, belongs to Oscar winner Denzel Washington.