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If he gets his price, it’ll be one of the biggest residential sales ever in the Sunshine Shine. The Oracle co-founder set the record himself earlier this year when he paid $173 million for an even larger place a few miles down the coast. The estate sits in a gated community called Seminole Landing, which has a manned security gate and 24-hour security. By January 2010, he had bought it for $10.5 million, and soon announced plans of converting the mansion’s first floor into the “Beechwood Art Museum”, where he would display his collection of 18th- and 19th-century art. But they decided to stay in New York, so it was time to find a new owner for the massive estate, passing it along to fellow billionaire Larry Ellison.
Carbon Beach, Malibu
Ellison’s latest acquisition comes thanks to Gabe Hoffman, who founded investment firm Accipiter Capital Management. According to The Wall Street Journal, which first reported the sale, Hoffman purchased the property in 2012 for $17.5 million. In February a new mansion on North County Road went for more than $120 million, setting a record for the region and likely the state, according to the Palm Beach Daily News. At 10,000 square feet, this five-bedroom home has been part of Ellison’s portfolio for decades. Built in 1958 and designed by William Wurster, property assessments value the property at more than $20 million.
In 2016, Ellison scored a personal coup: the purchase of NetSuite.
Although his 2012 purchase of the Hawaiian island of Lanai has been his largest overall investment by far, he's made a number of blockbuster purchases over the last two decades in Silicon Valley, Lake Tahoe, and even Japan. Farhad Farman of Compass, who’s overseeing strategic marketing for the listing, said that since the buyer pool is so exclusive, the marketing will be extremely personalized with direct outreach to potential buyers around the world. The listing also notes that the Palm Beach estate is one of "only a handful of properties in Florida where someone could land and take off in a helicopter from the estate." Ellison’s ownership brought major changes to the island, and turned it from a quiet tropical oasis into a common destination for the world’s elite, with the billionaire’s friends often stopping by for visits by yacht or private jet.
San Francisco
His trophy estate in North Palm Beach offers an almost unprecedented amount of space along the ocean with 563 feet of water frontage. At 6.5 acres, it’s the largest oceanfront property currently on the market in South Florida. Please note that some of the above images date back to 2017 when the Manalapan mansion was listed for sale with the D’Angelo/Liguori team with Premier Estate Properties. This article was initially published in February 2017, covering news of the ultra-luxurious property being publicly listed for sale. It was recently updated to reflect the current state of the property and to identify Larry Ellison as the new owner of the Gemini mansion and to include information on the billionaire’s other homes.
Photos: Woodside mansion across from home owned…
Meanwhile, this Seminole Landing estate is pegged as the third-largest oceanfront parcel in Palm Beach county with over 520 feet of ocean frontage and 24-hour gated security. The tech billionaire had purchased the sprawling 15,500-square-foot property, located in the ultra-pricey Seminole Landing neighborhood, for $80 million just last year. Nestled in the Silicon Valley city’s “billionaire’s row,” the home sits across from a property owned by tech mogul and Oracle co-founder Larry Ellison.
Carbon Beach
Ellison’s latest purchase on Billionaires’ Beach in Malibu is a 7,700-square-foot, $48 million home—his tenth property in the neighborhood. With dense vegetation, the property has about 1,200 feet of beach frontage and about 1,300 feet of waterfront on the irregularly shaped side facing the Intracoastal Waterway. Ellison used a limited liability company to buy the estate in Manalapan, according to the Palm Beach Daily News, part of the USA TODAY Network. The majority of his fortune is tied to enterprise software giant Oracle, which he cofounded in 1977 and still chairs. But Ellison’s father’s tech connections — and deep pockets — could help bolster Paramount, particularly if there are new advancements in artificial intelligence, digital production or distribution, he said. More urgently, Ellison must contend with Paramount’s restless shareholders and board members who have objected to the Skydance deal.
Ellison was one of the few tech leaders who had a friendly relationship with former President Donald Trump.
“If he thinks he owns the electric company, he probably will someday,” said John Ornellas, a local tour guide. When Murdock put the island up for sale in 2011, he declared that the financial drain and the ill-will had become intolerable. “This is the poorest financial investment I’ve made in my entire life,” he groused to Lanai Today. It was Murdock who had closed the pool seven years earlier as one of many cost-saving measures implemented during the end of his reign, a period of economic struggle on the island.
It’s an ambitious ask considering he paid $80 million for the home last year. The Oracle cofounder, who's worth $89.3 billion, bought the estate from hedge-fund manager Gabe Hoffman, who put it on the market in June 2020 for $79.5 million, as Katherine Clarke reported for the Journal. Ever since, Ellison reportedly spent over $100 million restoring the mansion and the other buildings on the estate to their former glory. He’s also been actively snapping up mansions in Malibu’s Carbon Beach (aptly called “Billionaire Beach” due to its many ultra-wealthy residents) and owns multiple properties in Tahoe.
He also reportedly spent $200 million upgrading his 23-acre Japanese-inspired estate in Woodside, which has a lake, a koi pond and 10 buildings, including a teahouse. Historically known as Gemini, the estate is bisected by a coastal road. The two sections of the main house – one facing the lake and the other, the ocean – are linked by a series of tunnels beneath the street, including one that serves as a foyer and art gallery. Ellison’s portion of this 141-square-mile oasis includes a $3,000-a-night spa called Sensei Retreat and a solar-powered hydroponic greenhouse.
How many homes do the world’s super-rich actually own? lovemoney.com - lovemoney.com
How many homes do the world’s super-rich actually own? lovemoney.com.
Posted: Thu, 07 Sep 2023 07:00:00 GMT [source]
A serial trophy home buyer, the Oracle co-founder often adds to his vast real estate portfolio — so please forgive us for not being able to keep up with his every purchase. But there are a few staple properties that he’s long-held — ones he likely won’t part ways with them anytime soon. Larry Ellison is the founder and chief technology officer at software company Oracle. He's also one of the world's richest men who owns nearly an entire Hawaiian island and never finished college. Inspired by Japanese imperial design, Ellison’s stunning Woodside estate in sunny California covers 9.3 hectares (23 acres) and features an 8,000 sq ft home, 10 buildings in total, a lake, a teahouse and even a koi pond.
The company has produced films like "Zero Dark Thirty" and "American Hustle." Ellison has held shares in some of the most recognizable companies, one of which was the infamous blood-testing company Theranos, founded by Elizabeth Holmes. It had a promising future until its flaws were exposed and Holmes received a prison sentence. Rowe Price tried to block the deal, citing Ellison's conflict of interest, but the sale closed in November 2016.
The first film released as part of the arrangement was “True Grit,” the Coen brothers’ western. Made for $38 million, it went on to gross more than $252 million globally while garnering 10 Oscar nominations, including a nod for best picture. Along with Berg, who also sits on Oracle’s board, David Geffen became an early guide.
Ellison was pouring money into cosmetic improvements, but for the first three months after the purchase he revealed nothing about his long-term plans for the island. Ellison’s tentacles were all over Murdock’s bad investment right from the start, and they held hammers and paintbrushes and chainsaws. The pool turned out to be the kickoff for a comprehensive campaign to upgrade, renovate and generally spiff up the island. Larry Ellison plans to make Nashville the world headquarters for Oracle Corp., only a few years after relocating the tech giant from Silicon Valley to Austin.
If the names suggest something ominous about Ellison—ranked by Forbes magazine as the fifth richest man in the world—they also reveal a sense of humor. As co-founder and CEO of Oracle, Ellison is infamous for his cut-throat, scorched-earth approach to business. Although IBM dominated the mainframe relational database market with its DB2 and SQL/DS database products, it delayed entering the market for a relational database on Unix and Windows operating systems. This left the door open for Sybase, Oracle, Informix, and eventually Microsoft to dominate mid-range systems and microcomputers.
The metro area has for decades though pitched itself as a health care hub and middle Tennessee is now home to 900 health care companies, according to the Nashville Health Care Council, a group created about 30 years ago to promote the industry. Last year, Ellison dropped a record-breaking US$173 million on a Florida compound in Manalapan, a wealthy town near Palm Beach. The transaction of the ocean-to-lake estate marked the most expensive residential sale ever in Florida. Built in 1958 and designed by William Wurster, Ellison’s 10,000 sq ft, five-bedroom home in San Francisco is valued at over US$20 million, per Forbes.
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