When you’re the world’s third-richest man – according to Forbes – with a net worth of $209 billion, buying real estate for price tags that would be shocking to most is just another day at the office for Oracle founder Larry Ellison. His recent $202 million purchase of a stately London office building is the latest jewel in a glittering real estate portfolio.
According to CoStar News, Ellison has agreed to buy the West End property from Hong Kong-listed investor Chinese Estates. The property, located at 11-12 James Square, is currently entirely vacant, and Ellison, 80, is thought to be buying it for one of his businesses. Chinese Estate purchased the building from Malaysia’s Employees Provident Fund for £175 million ($216 million in 2017).
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Over $1 Billion In Real Estate
The purchase is notable for Ellison, as most of his real estate holdings – valued at over $1 billion – thus far have been U.S.-based in California, Rhode Island, Hawaii, and Palm Beach. Dubbed “the nation’s most avid trophy-home buyer” by the Wall Street Journal in 2011, Ellison’s penchant for picking up prestige properties has hardly abated. Here’s a closer look.
California Dreaming
According to AOL, in 1988, a decade after founding Oracle, Ellison purchased a $3.9 million, 10,000-square-foot home in San Francisco’s upscale Pacific Heights neighborhood. Seven years later, in 1995, Ellison purchased a 23-acre estate in Woodside, California, for $12 million. The tech mogul reportedly spent $200 million renovating the home, modeling it on a 16th-century Japanese imperial palace, completing it in 2004.
Outside of his role with Oracle, Ellison is perhaps known for helping make Malibu, CA, what it is today. He started buying homes in the former laid-back surf town three decades ago. Today, he owns eleven properties in Malibu’s Carbon Beach, an area referred to as “Billionaire’s Beach” because of its high net-worth residents, as detailed in the Wall Street Journal. Ellison also owns multiple buildings and commercial ventures. Among them is the Japanese-inspired Nobu Ryokan Hotel, where rates start at a minimum of $2,000 a night.
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A Newport, R.I., Historic Mansion
Ellison also owns properties in Newport, Rhode Island, another beachy enclave on the opposite side of the country from Malibu. His primary property is the Beechwood Mansion on Bellevue Avenue, built in 1851 and occupied by the Astor family. Ellison purchased the home in 2010 for a reported $10.5 million and, according to Forbes, spent over $100 million converting it into a museum.
The tech titan also owns properties in Tahoe. In 2018, he bought the famed Cal Neva Lodge out of bankruptcy for $35.8 million and sold a home in 2014 for $20 million.
Kyoto Art Museum
Ellison also reportedly owns a historic garden villa in Kyoto, Japan, on the grounds of Nanzen-ji, a Zen Buddhist temple. The garden was listed for $86 million. In 2012, Ellison told CNBC that he planned to convert the property into a Japanese art museum.
Lanai
Porcupine Creek
Palm Beach
One of Ellison’s most recent purchases was the 2022 $173 million acquisition of a Manalapan, FL, compound in a ritzy town just south of Palm Beach. According to USA Today, the transaction marked the highest-ever residential sale in Florida.
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