Florida real estate is on (proverbial) fire, and the most recent person to heat things up is tech tycoon/real estate mogul Larry Ellison, who paid just above the $79.5 million asking price for a lavish compound in North Palm Beach. Boasting on more than 520 feet of ocean frontage, the palatial spread lies within the ultra-exclusive, 24-hour guard-gated Seminole Landing community.
The Oracle co-founder purchased the Florida estate from hedge fund manager Gabe Hoffman, founder of Accipiter Capital, according to The Wall Street Journal. Hoffman bought the main parcel in 2012 for $17.5 million and placed the house up for sale in June 2020, records show.
Forbes’ sixth richest person on the planet, with a net worth of $99.6 billion, Ellison is known for his impressive real estate portfolio consisting of trophy properties stretching from Silicon Valley to Japan and beyond. In 2020, Business Insider reported he owns 98 percent of the Hawaiian island of Lanai; a William Wurster-designed mansion on San Francisco’s Billionaire’s Row; 23-acre estate modeled after a 16th century Japanese imperial palace in Woodside, Calif.; and a historic garden villa in Kyoto, Japan.
Ellison also owns about two dozen properties in Malibu worth an estimated $200 to $250 million — including at least 12 on prestigious Carbon Beach and a beachfront house he purchased from movie producer Joel Silver for $38 million in 2018 — along with numerous properties in the Lake Tahoe area.
As for Ellison’s newest address, the listing states that it’s the third-largest oceanfront compound in all of Palm Beach County, resting on 7 acres of gated land on Seminole Beach Road offering up panoramic ocean vistas. Built in 1998, the seven-bedroom, Tuscan-style estate features 15,000-plus square feet of living space rife with hand-painted tile, stenciled ceiling beams, carved fireplaces and gilded flourishes.
Among the highlights: a striking entry foyer sporting stone walls, arches and a spiral staircase with a wrought-iron balustrade; formal living room with a stone fireplace and beamed ceilings; formal dining room with French doors and an intricately painted ceiling; professional chef’s kitchen with a ceiling fresco and dual islands; an opulent master retreat; a home theater; and wine room.
Outdoors, the resort-inspired grounds include a covered indoor/outdoor living and dining space with a fireplace; tennis court and pool with a water feature. Last, but definitely not least, there’s even plenty of room for a helicopter when Ellison’s ready to jet off to one of his myriad properties.