Larry Ellison bought Florida estate for $80M in 2021; now asking $165M
Oracle co-founder Larry Ellison has listed his North Palm Beach estate for $165 million, double the price he paid in 2021. The property, which remains largely undeveloped, is expected to set a record for the area if sold at the current asking price.
Why it matters
The listing reflects the extreme appreciation of ultra-luxury real estate in South Florida and the investment strategies of high-net-worth individuals.
Larry Ellison, the co-founder of Oracle, is resisting his sprawling oceanfront estate in North Palm Beach, Florida for $165 million, more than double the $80 million he paid for the property in 2021, according to a report by the Wall Street Journal. This move from Ellison comes five years after the billionaire purchased the 8.4-acre estate and abandoned the plans to demolish the existing mansion. As per the WSJ report, the new asking price is around 14% higher than the $145 million price which the price at which the property was first listed in 2022. The estate is located within the exclusive Seminole Landing grated community in North Palm Beach. After acquiring the property in 2021, Ellison reportedly considered tearing down the Mediterranean-style mansion but never proceeded with the redevelopment.
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