Tech billionaire Larry Ellison has paid $80 million for a 15,000-square-foot beachfront mansion in Palm Beach, Florida, The Wall Street Journal first reported.
Douglas Elliman
The Oracle cofounder, who's worth $89.3 billion, bought the estate from hedge-fund manager Gabe Hoffman, who put it on the market in June 2020 for $79.5 million, as Katherine Clarke reported for the Journal.
Chris Leavitt, Ashley McIntosh, and Tonja Garamella of Douglas Elliman handled the transaction and declined to comment on the deal.
Ellison said in December that he had moved from California to Lanai, the Hawaiian island he owns.
Oracle's Larry Ellison.
Reuters/Stephen Lam
After Ellison announced in December that he'd be moving Oracle's headquarters from Redwood Shores, California, to Austin, Texas, he got questions from employees about whether he was also moving to Austin, Recode reported.
"The answer is no. I've moved to the state of Hawaii and I'll be using the power of Zoom to work from the island of Lanai," Ellison wrote in an email to staffers.
At 7.35 acres, his new Palm Beach property is the third-largest oceanfront parcel of land in Palm Beach County, according to the listing.
Douglas Elliman
The estate sits in a gated community called Seminole Landing, which has a manned security gate and 24-hour security. The property itself is also gated.
The listing also notes that the Palm Beach estate is one of "only a handful of properties in Florida where someone could land and take off in a helicopter from the estate."
Ellison's newest home purchase adds to the billionaire's already impressive real-estate collection.
Douglas Elliman
He also owns a 23-acre estate in Woodside, California, and a home in San Francisco's Pacific Heights neighborhood, multiple homes on Malibu's "Billionaire's Beach," and several properties in Lake Tahoe.
An Oracle representative did not respond to Insider's request for comment for this story.
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