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Feb. 9 2009, Published 4:36 a.m. ET

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An emergency meeting has been called for home owners in Malibu's celebrity haven of Broad Beach, aka Billionaire beach.

A source close to the situation exclusively tells that the emergency meeting will be held at 11am today and the focus of this meeting will be about serious beach erosion that is threatening the houses.

Some of the most expensive beach houses in the world are located on Broad Beach. Homeowners include Kurt Russell, Goldie Hawn, Steven Spielberg and Jeffery Katzenburg, just to name a few.

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Broad Beach has been fighting for years to keep their beach private and so far the homeowners have gotten their way. Now, the fight has turned into a battle just to keep their homes.


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