Follow me for a moment on a quick history of Larry Ellison’s real estate acquisitions.
For the past few decades, Larry Ellison has been a California resident with homes in San Francisco, Lake Tahoe, and – the most important A 45-acre estate in Woodside California (one of the most expensive zip codes in the world) modeled after a 16th century Japanese estate. It is impossible to determine the value of a Woodside property. It could be worth $200+ million if it were put on the market. Or it’s not salable because there aren’t many people who want to live on a 16th century Japanese property.
Down in Malibu, Larry owns more oceanfront mansions than anyone else. Over the course of one year starting in 2004, Larry spent $180 million to purchase 12 homes in Malibu. Five of them are contiguous on the very exclusive Carbon Beach.
In 2010 he paid $10.5 million to the Astor family’s mansion in Newport, Rhode Island.
In 2012 he paid $300 million to the Hawaiian island of Lanai. He also owns two Four Seasons hotels on the island.
In December 2020, Larry announced that he had decided to give up his full-time residence in California. Reportedly tired of crazy California taxes and unfriendly labor regulations.
Larry spent a lot of COVID living in Lanai, but in April 2021, just over a year ago, he decided to move his talents to Florida by purchasing an $80 million oceanfront mansion in North Palm Beach. The stunning property is located within a gated community called Seminole Landing and features a 520-foot perimeter frontage.
Check it out in this video tour:
The seller, a financier named Gabe Hoffman, may have thought he was getting a killer deal, considering he only bought the property 9 years ago for $17.5 million. Gabe essentially made $7 million in profit for every year he owned the house. Well, I have some bad news for you, Gabe. Larry Ellison no longer needs the mansion and over a year after giving you $80 million he listed it for…
$145 million
Why is Larry selling the above house?
Because just two months ago he bought a different property in Florida. A property called Gemini which is easily one of the most incredible properties in America. The 16-acre property is like a luxury resort with multiple structures, water on all sides, a golf course, sports arena, and more. Here is a video tour of Gemini:
Gemini was actually Larry’s original target purchase, but by the time he made the move, he had already been rounded up by fellow tech billionaire Jim Clark.
Jim Clark bought Gemini in March 2021 for $94 million. For whatever reason, Jim and his wife soon decide that they want to stay in New York and don’t completely want to move to Gemini. Knowing that Larry was also interested in Gemini, Jim called him. Larry was still already interested and a deal was struck. After paying Gemini $94 million in March 2021, Jim transferred her to Larry 15 months later in order to…
173 million dollars
With Gemini in his grasp, Larry no longer needs his native Florida mansion, hence the final list. But has the value really gone from $80 million to $145 million in just over a year? Unfortunately, there is precedent for this kind of jump in real estate in Florida. Previous Larry set himself 🙂
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