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Larry Ellison buys Palm Beach property: report - South Florida Sun-Sentinel

Billionaire Larry Ellison is reportedly tearing down the mansion on his recently purchased $80 million property in North Palm Beach. ....

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Billionaire who just bought $80 million Florida mansion plans to tear it down

Billionaire who just bought $80 million Florida mansion plans to tear it down
orlandosentinel.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from orlandosentinel.com Daily Mail and Mail on Sunday newspapers.

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Larry Ellison to Demolish $80M Palm Beach mansion

Larry Ellison and 12525 Seminole Beach Road (Getty, Elliman, iStock)
Billionaire Oracle Corp. co-founder Larry Ellison plans to demolish the North Palm Beach mansion he acquired last week for $80 million.
In a letter to Oracle employees, Ellison said he will not be moving to Florida and plans to stay in Hawaii, according to Recode.
Ellison acquired the oceanfront home at 12525 Seminole Beach Road from hedge fund manager Gabriel Hoffman, who heads Accipiter Capital Management. But he’s been based in Hawaii’s Lanai, an island he purchased almost entirely in 2012. Ellison is worth nearly $100 billion, according to Forbes.
“Last year I moved from California to the island of Lana’i and became a resident of the State of Hawaii. I love it here and have no plans to move back to Florida, Texas, back to California … or anywhere else,” Ellison reportedly wrote to employees, according to Recode. ....

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Inside Larry Ellison's $1 Billion Real Estate Portfolio

Inside Larry Ellisonâs $1 Billion Real Estate Portfolio
Jamel Toppin/The Forbes Collection
Serial trophy home buyer Larry Ellison has added another prize to his vast real estate collection after purchasing an $80 million mansion in North Palm Beach this week, the third largest oceanfront home in the posh Florida county. The six-acre propertyâinside a gated communityâboasts more than 500 feet of ocean frontage in a neighborhood that includes fellow billionaires Robert Smith, David Tepper and Steve Wynn. The 15,514-square-foot Tuscan home has seven bedrooms, 11 bathrooms, a theater, wine room, and a lawn big enough to accommodate a helicopter.
Ellison, 76, became the worldâs sixth $100 billion person this week. The majority of his fortune is tied to enterprise software giant Oracle, which he cofounded in 1977 and still chairs. He also holds a stake in Tesla worth more than $10 billion. ....

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Oracle's Larry Ellison Buys Palm Beach Estate

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