- Oracle billionaire Larry Ellison is trying to sell one of his Palm Beach estates for $145 million.
- He bought the property for $80 million in 2021 and originally planned to tear it down.
Oracle billionaire Larry Ellison is looking to sell off a piece of his real estate empire, a Florida mansion he originally planned to tear down.
Located in pricey Palm Beach County, the 7.35-acre property was recently listed for $145 million by real estate brokerage Douglas Elliman. The oceanfront estate has more than 520 feet of ocean frontage and a Tuscan-style mansion with seven bedrooms, 14 bathrooms, a wine room, and a home theater.
The property also includes a pool, tennis courts, and enough space for someone to take off or land in a helicopter, according to the listing agents.
Ellison bought the estate from hedge-fund manager Gabe Hoffman in April 2021 for $80 million. Soon after news of the deal broke, Ellison sent an email to Oracle employees confirming that he purchased the mansion, but that he was "tearing the house down and not moving to Florida," Recode reported at the time.
Now, it seems Ellison has changed his mind and decided to offload the property instead, just two months after he reportedly paid $173 million for a sprawling, nearby estate that belonged to Netscape billionaire Jim Clark. The deal broke the state record for priciest home ever sold.
Ellison, who founded cloud software company Oracle in 1977, is the world's 10th-richest person with a net worth of nearly $99 billion. When Oracle moved its headquarters to Austin, Texas, during the height of the pandemic, Ellison told employees that he has "no plans to move back to Florida, Texas, back to California ... or anywhere else." Instead, he lives full time on Lanai, Hawaii, where he owns 87,000 of the island's 90,000 acres. Lanai serves as something of a home base for Ellison's sustainability ambitions, which include hydroponic farming and a chain of ultra-luxe eco-resorts.
Beyond Lanai and the Palm Beach mansions, Ellison's extensive real-estate portfolio includes multimillion-dollar homes in Rhode Island and Japan, as well as several California estates located in San Francisco, Malibu, and Lake Tahoe.