Wednesday, August 10

Oracle billionaire’s $173M estate sets Florida record


PALM BEACH, Fla. – Billionaire Larry Ellisonwho was recently ranked by Forbes as the world’s eighth-richest person, dropped $173 million of his fortune to buy a Florida compound in Manalapan, a wealthy town south of Palm Beach. The transaction marks the largest residential sale ever in Florida.

Ellison bought the ocean-to-lake estate – and part of nearby Bird Island – from a trust controlled by a fellow software billionaire, Jim Clark. In all, the estate and its island measure more than 22 acres.

Ellison used a limited liability company to buy the estate in Manalapan, according to the Palm Beach Daily News, part of the USA TODAY Network.

The land has been in the hands of the extremely wealthy for years. Clark purchased the property in 2021 from the billionaire Ziff family, which made its fortune in publishing and investments.

In this Oct. 2, 2012 file photo, Oracle CEO Larry Ellison gestures while giving a keynote address at Oracle OpenWorld in San Francisco.

Historically known as Gemini, the estate is bisected by a coastal road. The two sections of the main house – one facing the lake and the other, the ocean – are linked by a series of tunnels beneath the street, including one that serves as a foyer and art gallery.

With dense vegetation, the property has about 1,200 feet of beach frontage and about 1,300 feet of waterfront on the irregularly shaped side facing the Intracoastal Waterway.

The ocean-to-lake estate that was just sold for a record-setting $173 million in Manalapan near Palm Beach is outlined in red at the upper right of this aerial photo.

Together, the main residence and several outbuildings offer nearly 85,000 square feet of living space, inside and out, with 33 bedrooms, 34 bathrooms and 13 powder rooms.

The park-like estate includes a PGA-standard golf practice area, a regulation tennis court, a half basketball court, a freshwater pond, an 18-hole miniature golf course, a boat dock, a bird sanctuary and a butterfly garden. All of those items were in place when Clark’s trust bought the property.

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So who is Larry Ellison? Here’s a look at the billionaire.

How rich is Larry Ellison?

On June 22, the day the deed recorded for the Florida sale, Forbes estimated the 77-year-old’s net worth at $93.6 billion.




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