The property sits on 520 feet of ocean frontage and can accommodate a private helipad. Billionaire Oracle co-founder Larry Ellison is planning to bid farewell to his sprawling waterfront property in Florida, with hopes to fetch $165 million. Ellison snapped up the palatial pad back in 2021 for $80 million with the intention of tearing it down.
However, over a year later, he tested the market with an ask of $145 million for his property in Seminole Beach Estate. Is China Experiencing ‘Premature Hubris?’Play video: Is China Experiencing ‘Premature Hubris?’ Now, the tech tycoon, 82, is trying his luck once again, with listing agents James Kenny and Paul Kaneb of K2 Realty telling the Wall Street Journal that the property will soon hit the market for $165 million. Don’t Short Yourself offers weekly money tips to help you earn it, stack it and grow it.
I would like to receive updates and special offers from Dow Jones and affiliates. I can unsubscribe at any time. Ellison’s property is the third-largest oceanfront parcel in Palm Beach County.
It sits in a gated community with 24/7 security. At 8.4 acres acres, the parcel is one of only a handful of properties in the state that can accommodate a private helipad. The property comes with 520 feet of ocean frontage.
The news that Ellison plans to sell the property comes as the billionaire expands his touch on the Manalapan area, which is situated south of Palm Beach. In June, he forked over $35 million for a plot of land adjacent to his 15-acre dwelling, which he picked up in 2022 for $173 million. With an impressive net worth of $187 billion, Ellison also holds the keys to several other luxe homes. **More from Realtor.com:**Louisiana Family Is Accused of Torching 13 Homes in Elaborate Insurance Fraud Scheme Ellison has become known as a “Malibu real estate mogul,” buying his first Carbon Beach property in 2002.
In 2018, he made headlines with the purchase of Hollywood producer Joel Silver’s Malibu beach house for $38 million. Additionally, he has reportedly acquired 11 other properties in the coastal city. He is also said to have paid $20 million for the Casa Malibu Inn in 2007, 10 years before he snapped up another oceanfront estate for a reported $48 million.
Extract — continue reading at the source.
