Published On: Wed, Jan 1st, 2014

Megan Ellison Pays Out Just $30 million For A House And Shows That The Apple Doesn’t Fall Far From The Tree

 

Megan has just pulled off a slick property swap that would make her father Larry proud.

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Megan Ellison, daughter of billionaire high-tech guru Larry Ellison who collects properties the way that other people collect stamps, has obviously picked up a few tricks from her father when it comes to buying and selling real estate.

Larry, CEO of  Oracle Corp., and one of the world’s wealthiest people, is renowned for his  keen eye for a property bargain, which is not surprising when you consider that he is a reputed owner of around 12 properties in the prime real estate Malibu Beach region of California. Add to  that property roster as at least one island off the coast of Hawaii as well as his own private airline to get him there.

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Property dealing on that kind of scale by her father makes Megan Ellison’s wheeling and dealing seem small potatoes, but even then it appears that she has made something of a coup with her first property upgrade.

The first stage  was a successful sale of   her three-house complex situated in highly desirable Hollywood Hills West region. Megan reportedly picked up around  $47 million for the property, making for a profit of  $14 million in just five years.

With that money Megan went out and spent just $30 million on a spacious mansion in the same neighborhood, immediately investing an additional $10 million on picking up an adjacent parcel of land in which the budding Hollywood producer intends to build what will eventually be a mountaintop estate covering a total of  nine acres.

Megan Ellison house

The imposing property that Megan payed out just $30 million for  covers close to 10, 000 square feet of living space.  The property was built in 1990 and includes six bedrooms and eight bathrooms, extensive leisure areas as well as a bar, a gym, a media room, a sauna. In case unexpected guests pop by their also a number of guest apartments and parking for no less than 25 vehicles. Other amenities in the existing property include a grotto style swimming pool and even a specially constructed San-based volleyball pitch.

And to make the picture complete Megan’s new property reportedly boasts one of the most impressive views over Los Angeles and Hollywood as well as being a short drive from Megan’s film studio,  Annapurna Pictures.

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(L-R) Producer Megan Ellison, actress Amy Adams and Amy Pascal, Co-Chairman, Sony Pictures Entertainment and pose at the after party for Columbia Pictures and Annapurna Pictures’ ‘American Hustle’ / Getty

Megan Ellison attended film school at the University of Southern California before beginning her career in the movie industry  in 2006 when she co-produced Waking Madison with writer and director Katherine Brooks. Megan was involved in the production of another couple of movies during 2008 and 2009 which failed to make much impact either critically or at the box office. Our first breakthrough as a producer came when she tied up with Joel and Ethan Coen to produce a  remake of  the cowboy classic True Grit which found major commercial and critical success when it was first released at the end of 2010.

Thanks to an injection of capital from Larry Ellison., Megan began to take on larger productions,  the next being when she partnered with Michael Benaroya to produce Catch 44 which starred Bruce Willis and Forest Whitaker. Following fast on the footsteps of that  film’s success Megan released Lawless, a powerful Prohibition-era crime drama starring Shia LeBouef.

Megan enjoyed further commercial success with  Zero Dark Thirty, based around the successful hunt and subsequent assassination  of Osama bin Laden.

Her most recent release is “American Hustle”  a crime thriller starring Christian Bale while Ms. Ellison  is currently reported to be involved in the development of a movie based on the life of WikiLeaks founder Julian Assange, to be released as The Boy Who Kicked the Hornet’s Nest.

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