Larry Ellison, the billionaire founder of Oracle, has bought himself a new estate in Florida worthy of a man of his wealth. Ellison paid $173 million for the Palm Beach area home, making it the most expensive private estate in the State of Florida, reports Mansion Global.
And Larry Ellison already owns his own Hawaiin Island.
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Located on a barrier island in Manalapan, just south of Palm Beach, the property comprises 16 acres of land. The super-sized mansion itself has a coral stone facade and holds roughly 62,200 square feet of space. The land includes 200 feet of frontage along the Atlantic Ocean coast, about 1,300 feet on the Intracoastal Waterway, spanning the width of the Barrier Island on which it is located.
The property also comes with a seven-bedroom guesthouse, two cottages on the beach and a manager’s house that are connected via a series of underground tunnels. And, of course, the estate also has a dock which comes in handy seeing as how every self-respecting billionaire owns his own yacht. There is also a sports complex, a pool and a three-hole golf course.
The 77 year old high tech legend Larry Ellison bought the property from a fellow Silicon Valley titan. The property was owned by 78 year old Jim Clark, who was one of the original dot.com/internet pioneers and founded a number of successful firms including Netscape. Netscape, the original web browser, may no longer be with us but its creators made their exit long ago when it sold to AOL.
According to Mansion Global, Jim Clark and his wife Kristy only just bought the property in March of 2021, paying $94.2 million for it. That comes to about $79 million in profit or almost a doubling of the investment in a little over one year’s time.
The seller Jim Clark told the Wall Street Journal about his windfall, “Look, it’s a phenomenal piece of property. You can’t find anything like that in Florida. I’ve never made money on real estate until now.”