According to medical examiners, Mahalingam Shrinivas died of smoke inhalation when the 2004 Ferrari F-360 crashed and burst into flames Thursday night in a ditch near Point Mugu.
A 23-year-old passenger was hospitalized with non-life threatening burns.
Officials said Shrinivas lost control of the vehicle as he was going north on Las Posas Road east of Highway 1.
The Associated Press contributed to this report.
