Larry Ellison puts his Palm Beach mansion up for sale for $145 million

Tech tycoon Larry Ellison has put his mansion in North Palm Beach, Florida up for sale. The real estate agent Douglas Elliman is in charge of looking for a buyer and has put the price on its website: 145 million dollars (about 141 million euros). It is a large beachfront mansion with ample land, swimming pool, tennis court and space for helicopters to land.

The Oracle founder paid about $80 million for the property, at 12210 Banyan Road, last year to a hedge fund manager, but is now asking for 81% more.

Aerial view of Larry Ellison’s mansion in Palm Beach, in an image by Douglas Elliman real estate.

According to Douglas Elliman, it is the largest oceanfront parcel on the market in South Florida. It covers 6.5 acres (2.6 hectares), 8.5 acres including the dunes and the privately owned beach, and has 171 linear meters of ocean frontage.

“Rarely is a property of this magnitude available with this many continuous buildable acres and such vast proportions,” says the realtor, noting that the property sits within the ultra-exclusive Seminole Landing enclave and allows for the highest level of privacy and security. . The mansion has seven bedrooms, large living rooms, a movie theater and a wine cellar.

According to TheWall Street Journal, who brought the mansion up for sale, Ellison has just bought an even larger property in the nearby Manalapan area for $173 million from internet entrepreneur Jim Clark, 78, the founder of Silicon Valley companies like Silicon Graphics, Netscape Communications, myCFO and Healtheon. It was a record for a house in Florida.

View from inside the estate of Larry Ellison's mansion in Palm Beach, in an image by Douglas Elliman real estate.
View from inside the estate of Larry Ellison’s mansion in Palm Beach, in an image by Douglas Elliman real estate.

The Florida real estate market is one of the most appreciated in recent years. Its favorable regulation and taxation and its pleasant climate are attracting companies and executives. The luxury housing market is also very hot. The billionaire Ken Griffin, founder of Citadel, has acquired 10 hectares of land for 450 million dollars in recent years for his mansion in Palm Beach, very close to Mar-a-Lago, the resort owned by Donald Trump that was searched by the FBI last week.

Larry Ellison, 77, whose fortune is estimated by Bloomberg at about 99,000 million dollars, he is the tenth richest man in the world. He has multi-million dollar properties in Malibu, Lake Tahoe and Silicon Valley (all in California), as well as a mansion in Newport (Rhode Island). In addition, he has bought almost all of Lanai, the sixth largest island in Hawaii, where some 3,200 people live, a paradise of 364 square kilometers. In a single series of transactions, Ellison bought 352 square kilometers.

In addition to Oracle, Ellison invests in other technology firms. He is one of the partners who joined Elon Musk to buy Twitter, although the operation is in the air and subject to a multi-million dollar lawsuit.

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Larry Ellison puts his Palm Beach mansion up for sale for $145 million