Larry Ellison bought Florida estate for $80m; 5 years later, it lists for $165m
Oracle co-founder Larry Ellison is relisting his North Palm Beach oceanfront estate for $165 million, five years after purchasing it for $80 million. The property is being marketed as a prime location for either renovation or a complete teardown.
Why it matters
The significant price increase reflects the high-end luxury real estate market trends in Florida and the investment strategies of ultra-high-net-worth individuals.
Chief technology officer of Oracle Larry Ellison is preparing to put his large oceanfront estate in North Palm Beach, Florida, back on the market for $165 million, five years after buying the property for $80 million.The Oracle co-founder bought the 8.4-acre estate in 2021. At the time, he planned to tear down the existing house. More than a year later, the property was offered for sale with an asking price of $145 million, but it did not sell at that price.Now, Ellison is preparing to try again. Listing agents James Kenny and Paul Kaneb of K2 Realty told The Wall Street Journal that the North Palm Beach property will soon be listed for $165 million.
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