The man, Andrew Luster, who is a great-grandson of the late cosmetics tycoon Max Factor, is expected to deny the charges.
British newspapers say that US police are investigating whether Mr Luster could be part of a transatlantic ring of "wealthy bad boys", because of an alleged date-rape case in London.
Sex, drugs and videotapes
The US prosecutors believe that the 36-year-old millionaire sedated women with so-called date-rape drugs such as GHB and then sexually assaulted and video-taped them at his beach house.
"It's like we've just scratched the surface, " said Deputy District Attorney Becky Day.
When the police searched Mr Luster's ocean-front home, they found photographs and video-tapes, guns including an AK 47 assault rifle, several bottles of an unknown liquid and cocaine.
A spokesman for the sheriff's department said some of the video-tapes showed women who appeared to be either unconscious or semi-conscious.
Bail set at $10m
One of the women, whose identity is being withheld, came forward to help the Californian police after hearing of Mr Lister's arrest.
The woman said she was shocked to learn that he had apparently assaulted her and videotaped the incident.
"I just had no idea I was a victim," she told the Los Angeles Times. "I'm completely blown away by this."
Denies charges
Hearing that Mr Luster has considerable family assets and millions of dollars invested in a stock portfolio, the judge in the Californian town of Ventura has set bail at $10m, saying that the defendant was clearly a danger to women.
Although no formal plea has yet been entered, Mr Luster's lawyer has said his client engaged in purely consentual sex and denied the charges.
British newspapers say that Californian police are to interview a British woman, Nina Richards, who believes that she was the victim of a drugged date-rape which might be recorded on Mr Luster's tapes.
British police officers have flown to California to interview a man in connection with her case.