Larry Ellison revealed as buyer of record-breaking $173M Florida property

0
6
Larry Ellison revealed as buyer of record-breaking $173M Florida property

Tech titan Larry Ellison is reportedly the buyer of a record breaking $173 million Florida property — the Sunshine State’s priciest sale in history.

The Oracle founder picked up the estate from fellow tech billionaire Jim Clark, who snatched the 63,000-square-foot compound for a relative song at $94 million just last year, the Palm Beach Daily News reported.

The transaction pulverized the previous record paid for a Florida home, a $140 million sale of a Palm Beach spread once owned by former President Donald Trump to a mystery buyer in February of 2021.

The latest mammoth transfer adds another jaw-dropping jewel to Ellison’s real estate portfolio.

Ellison signed over $300 million for 90 acres on the Hawaiian island of Lanai that currently serves as his home base. The mogul also boasts a selection of homes across California, including a dozen spreads in Malibu.

Oracle founder Larry Ellison also owns property on the Hawaiian island of Lanai and California.
Oracle founder Larry Ellison also owns property on the Hawaiian island of Lanai and California.
Chris Pizzello/Invision/AP

Ellison currently ranks 11th-richest person in the world with a net worth of roughly $83 billion, according to Bloomberg.

Clark, the founder of Netscape, sought to unload the Manalapan estate after deciding to spend most of his time back in New York after making the “spur of the moment purchase,” according to the Wall Street Journal.

The compound, situated near Palm Beach, boasts 1,200 feet of oceanfront and a total of 30 bedrooms across several buildings.

The home also has a private dock and a three-hole golf course.

Billionaires have piled into South Florida in recent years, with big name buyers jostling to secure coveted homes from Miami Beach to Palm Beach.

An elite pool of real estate players, including former casino magnate Steve Wynn, have also made windfalls in recent years by flipping homes amid Florida’s scorching market.

Source link