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Larry Ellison, the co-founder and chief technology officer of Oracle, has put his oceanfront estate in North Palm Beach, Florida, back on the market for $165 million, more than double what he paid for the property five years ago.
Ellison acquired the 8.4-acre estate in the gated Seminole Landing community for $80 million in 2021. The property was later listed for $145 million in 2022 but failed to sell, according to The Wall Street Journal.
The new asking price represents a 106% increase over Ellison’s purchase price and is $20 million higher than the property's previous listing price.
The estate, which sits along the Atlantic Ocean, includes a main residence and extensive grounds within one of the most exclusive communities in the North Palm Beach area. The property is also located near the Seminole Golf Club, a private club known for its high-profile membership.
Ellison's decision to relist the property comes as the billionaire continues to build a significant real estate portfolio in South Florida.
In 2022, Ellison paid $173 million for an oceanfront compound in Manalapan, Florida, in one of the state's largest residential property transactions. He expanded the estate this year after purchasing a 2.15-acre parcel next to the property for about $34.4 million.
The additional purchase brought Ellison's land holdings in Manalapan to more than 24 acres, strengthening his position in one of Florida's most expensive residential markets.
His property purchases extend beyond Manalapan. In 2023, Ellison acquired eight homes in Boynton Beach, Florida, for nearly $10 million through a limited liability company. The homes were reportedly purchased to accommodate members of his household staff and tutors for his children rather than for his personal use.
The North Palm Beach property is now being marketed at a time when the ultra-luxury residential market in South Florida continues to attract buyers willing to pay tens of millions of dollars for waterfront estates.
For Ellison, the potential sale would mark a significant increase in value from his original investment if the property eventually sells close to the $165 million asking price.
Ellison, who remains Oracle's chairman and chief technology officer, is one of the world's wealthiest people. His fortune is largely tied to his stake in Oracle, the software company he co-founded in 1977.
The billionaire has built one of the world's most extensive private real estate portfolios over several decades, with properties spanning Florida, California and Hawaii.
The Wall Street Journal first reported Ellison's decision to relist the North Palm Beach estate.
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