Montecito real estate is currently trading like proverbial hotcakes, and the latest person to make a big splash on the market is tech tycoon Craig Ramsey, who has paid $31.3 million — or about 98% of the full $32 million asking price — for an estate with rare unobstructed views of Channel Island and the Pacific Ocean. The 74-year-old Vlocity cofounder is joining the Montecito crowd just months after his business partners Young Sohn and Mark Armenante bought their own snazzy area home.
Records reveal Ramsey paid the entire purchase price in cash and deeded the property over to his new wife Kelly Dove later that same day. The Bay Area local can easily afford a shopping spree of this nature, of course, because Vlocity was sold to Salesforce last year for a whopping $1.3 billion in cash. But even long before that, Ramsey was already inordinately wealthy, having spent decades in the technology industry, including executive stints at both Salesforce and Oracle.
Ramsey is also widely known for his love of trophy real estate, particularly oceanfront trophy real estate. Arguably the crown jewel in his property crown is a seaside estate on Hawaii’s Maui island, which popped up for sale in 2018 at $49 million — at the time, a record ask for the island. (That Hawaiian getaway sold for a majorly discounted $24 million earlier this year to Jonathan Yantis, cofounder of leading NFT blockchain network WAX.) Ramsey also owns a sprawling mansion getaway in the Northern California wine country town of Santa Rosa; and back in 2019, he completed construction on a $30 million estate compound in Mexico’s Los Cabos — that property, infused with vibrant colors, a tribute to its Mexico heritage, was subsequently photographed for the Wall Street Journal.