Billionaire tech entrepreneur Larry Ellison is parting with one of his oceanfront Palm Beach homes. After purchasing this 6.5-acre property in April 2021 for $80 million, he is now listing it for a whopping $145 million.
The property is located in the ultra-exclusive enclave of Seminole Landing, a high-security gated community of 65 sprawling homes where other billionaires, including Robert Smith, David Tepper and Steve Wynn, own or have owned property. This prestigious neighborhood has its own private beach and several homes have direct ocean views. It’s currently the largest oceanfront property on the market in all of South Florida and the third largest oceanfront property in Palm Beach County.
The private home, which is also gated, features 562 linear feet of ocean frontage with direct beach access and plenty of land to rework the original structures or add on to create your dream compound.
“As the buyer pool for this level of property is exclusive, the marketing and promotion of this property will be extremely fine-tuned and personalized,” says Farhad Farman of Compass, who is operating as a strategic marketing advisor on the listing. “This will include international promotional strategies, direct outreach to specific spheres of influence and networking with the appropriate estate representatives from around the world.”
After Ellison’s purchase of the property last year, there were reports that the Oracle founder was planning to demolish the current home and rebuild. However, the property is still standing as he bought it. The 15,500-square-foot home has seven bedrooms, a theater and a wine room, WSJ reported last year, as well as a nearby tennis court. Conveniently enough, you can take off or land a helicopter directly from the property for easy access to and from the international or private airports. With plenty of acreage, the estate is exceptionally private.
“As one of the largest oceanfront lots, the property holds a certain cache that stands above and beyond the spectacular estates in Palm Beach, which are already a benchmark for the highest caliber of properties in the world,” Farman says.
The property is co-listed by Adam McPherson, Chris Leavitt and Ashley McIntosh of Douglas Elliman.
Ellison, who is currently the eighth richest person in the world according to Forbes Billionaires, made headlines earlier this year when he was revealed as the buyer of Jim Clark’s $173 million Palm Beach mansion in what was the most expensive sale of the year to date. Ellison has quite the impressive real estate portfolio, with homes in Newport, Rhode Island, Lake Tahoe, Lanai, Carbon Beach, San Francisco and beyond.
Over the past two years, the South Florida real estate market—particularly Miami—has been experiencing a massive boom. Palm Beach has also seen some record-breaking sales, particularly on the ultra-luxury end of the spectrum, such as Steve Wynn’s Palm Beach home, which he flipped for $32 million after purchasing it for $24 million.
If Ellison’s Seminole Landing home will sell for $145 million, it will be one of the highest transactions of the year.