Two months ago, Larry Ellison paid a state record $173 million to buy an extravagant 63,000-square-foot megamansion in the Manalapan area of Florida from Internet entrepreneur Jim Clark. Now the tech mogul-turned-real estate investor has decided to sell his other Florida home, a smaller but less expensive one in North Palm Beach. The details were first reported by The Wall Street Journal.
The Oracle co-founder is asking $145 million for a palatial spread with more than 560 feet of oceanfront in the exclusive 24-hour guard-gated Seminole Landing community. Yes, that’s more than what Ellison hedge fund manager Gabe Hoffman paid for the position a year ago, at $65 million in April 2021.
Forbes’ eighth-richest person, with a net worth of $106 billion, Ellison is known for his real estate portfolio that spans the globe, from Silicon Valley to Japan and beyond. Per Bloomberg, ed. In 2012, he bought 98 percent of the Hawaiian island of Lanai for $300 million and a William Wurster-designed mansion on San Francisco’s Billionaire’s Row, a 23-acre estate built on the grounds of a 16th-century Japanese imperial palace in Woodside. Calif., and a historic garden villa in Kyoto, Japan.
Ellison also claims nearly two dozen properties in Malibu valued at between $200 million and $250 million — at least 12 in the popular Carbon Beach area alone — along with several properties in the Lake Tahoe area.
Situated on more than 8.5 acres of secluded land on Seminole Beach Road, The Ellison Mansion is the largest beachfront property currently on the market in South Florida and the third largest oceanfront property in all of Palm Beach County. In the year Built in the late 1990s, the seven-bedroom, Tuscan-style estate boasts 15,000 square feet of living space throughout with hand-painted tile, exposed ceiling beams, carved fireplaces and decorative flourishes.
Particularly striking is the impressive entrance hall with its stone walls, arches and spiral staircase with wrought iron balustrade. Other highlights include a formal living room with a stone fireplace and vaulted ceiling, a formal dining room with an intricately painted ceiling and French doors, dual islands and a magnificent master retreat and movie theater and wine room.
Outdoors, the resort-inspired courtyard hosts a fireplace-filled pool with a water feature, tennis courts, and a covered indoor-outdoor living and dining area. There is plenty of space for a helicopter, as well as a privately owned beach and wildlife at your fingertips.
The listing was handled by Adam McPherson, Chris Levitt and Ashley McIntosh of the Levitt/McIntosh team at Douglas Elliman. Farhad Farman of Compass also serves as a strategic marketing consultant.