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Ellison’s charm offensive began the day after Castle & Cooke reported that the island’s sale was complete. It started with an email to the monthly newspaper, Lanai Today, announcing that the long-shuttered community swimming pool—which Ellison now owned—would reopen. The humble old community pool didn’t just reopen, it was reinvented as something worthy of a five-star resort. Ellison bought a 10th mansion on the strip for US$48 million in 2017 – as a result he now also controls a large portion of the surrounding beachfront. The property is anchored by a 15,000-square-foot Mediterranean-style mansion with six bedrooms and 11.5 bathrooms and also features a swimming pool, pond, pavilion and tennis court.
Larry Ellison's daughter lists domed residence in NYC's 'Police Building' for $3.7M - New York Post
Larry Ellison's daughter lists domed residence in NYC's 'Police Building' for $3.7M.
Posted: Tue, 08 Aug 2023 07:00:00 GMT [source]
Billionaire Larry Ellison buys $173 million estate, Florida's largest residential sale ever
The price point makes the oceanfront property the priciest home to ever sell in the state of Florida. It also makes it the third most expensive home ever sold in the U.S. at the time of writing. Once the most expensive home listed for sale in the U.S., South Florida’s sprawling Gemini mansion has a new owner — and a new claim to fame. This five-bedroom, 10,000-square-foot home on Billionaires’ Row has been part of Ellison’s portfolio for decades and is valued at more than $20 million.
Tennis
The property in Kyoto, Japan was originally listed for a reported US$86 million and is set become a Japanese art museum. Ellison owns multiple properties in Newport, but his most prized one is undoubtedly his Beechwood Mansion on Bellevue Avenue. The historic house was originally built in 1851 and occupied by the famous Astor family, once among the richest and most prominent families in the US. Made up of seven bedrooms and 14 bathrooms, the Tuscan-style property comes with a home theater and a wine room and also features tennis courts.
Carbon Beach
By signing the pledge, Ellison promised to donate 95% of his fortune before he dies. And in May 2016, Ellison donated $200 million to a cancer treatment center at the University of Southern California, Forbes reported. Ellison has been a major investor in Tesla, Salesforce, and even reportedly had a seat on Apple's board of directors for a while. One thing Lanai Resorts is not discussing is Murdock’s proposed wind farm, which he retained the rights to develop when he sold the island. Since the terms of the sale were confidential, it’s unknown whether there’s a drop-dead date by which Murdock must get the permits and financing needed to to proceed with the project. Change was coming quickly to sleepy Lanai, although where it was all headed was a mystery at first.
But Ellison's spending didn't slow down. In 2012, he bought 98% of the Hawaiian island of Lanai.
Ellison is the tenth-richest person in the world, with a net worth of more than $60 billion, according to Forbes. When asked in 2012 why he would buy more homes than he could possibly live in, Ellison referenced his love of art. Ellison founded Oracle Corp. in 1977, and it has grown into one of the largest software companies in the world.
Ellison commands a huge chunk of the shoreline here, where he reportedly bought a 10th home for $48 million in 2017. That estate spans 7,700 square feet, and includes a tennis court and a pool. The previous owners, Lisette and Norman Ackerberg, caused a fracas by erecting walls to keep public beachgoers away; after Norman died, Lisette ultimately settled with the California Coastal Commission and took the walls down.
The 77-year-old also owns mansions in the Bay Area and Rhode Island, a golf course in Rancho Mirage and the majority stake of an island in Hawaii. Lawns and palm trees populate the compound, leading to a 15,000-square-foot Mediterranean-style mansion with six bedrooms and 11.5 bathrooms. Decks and balconies hang off the second story, overlooking the private stretch of sand below.
Ellison bought the home in 2010 for a reported $10.5 million and is said to have spent more than $100 million to convert it into a museum. Ellison, who is also the company's chief technology officer, said Oracle wants to be part of a community where people want to live. Deferred maintenance on the hundreds of homes and apartments that Ellison suddenly owned was tackled. New construction began on vacant residential lots around town, in the classic plantation style of the island’s existing architecture. The stately Cook pines at Dole Park—now also Ellison’s property—were pruned for the first time in memory.
But, soon after, the team cancelled its Hawaii plans, explaining that modifications that needed to be done to the boat conflicted with the time it might spend in the Islands. At the community’s outdoor basketball court, b-ballers got a brand-new, all-weather playing surface. At the Administrative Services building, the pineapple plantation’s old headquarters, the hated kukui nut trees that had rained hard-shelled hell upon the parking lot for years were cut down and replaced with more auto-body-friendly palms. From the standpoint of the people who live there, and whose livelihoods are now deeply dependent on Ellison’s decisions, sustainability lab sounds pretty good.
While Ellison owns about a third of the island’s housing, the majority of homes belong to property owners of far more modest means. The state of Hawaii and Maui County own the rest of the non-Ellisonian parts of Lanai, including the airport, the two harbors, the three main roads and the single school, which serves elementary through high school students. Best-known for its database technology, Oracle shifted its headquarters to Texas, in 2020, saying the move would give more flexibility to workers. The company still maintains a large employee base in California and it’s unclear how many employees will remain in Austin once the Nashville campus is complete.
Shareholders have pushed back, saying the transaction would primarily benefit Redstone at the expense of regular investors. This month, in the midst of negotiations, four of the company’s board directors resigned over the planned merger. “We are a complete city that also checks the box for business,” O’Connell said in a statement. How Larry Ellison developed Oracle is a story that starts in 1977, full of adventurous bets that most people thought, wrongly, he would lose.
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