Oracle co-founder Larry Ellison, who owns four estates here in Newport, RI, has purchased a North Palm Beach mansion from hedge-fund manager Gabe Hoffman, the founder of Accipiter Capital Management, for $80 million according to the Wall Street Journal. The property sold for just above its $79.5 million asking price.
Ellison, 76, the world’s sixth wealthiest person with a net worth of $100 billion, has a real estate portfolio valued at reported $1 billion.
The oceanfront compound has over 520 feet of ocean frontage in the uber-exclusive and ultra-pricey gated neighborhood at Seminole Landing.
The 15,514-square-foot Tuscan-style estate has seven bedrooms, 11 bathrooms, three half-baths and more than 520 feet of ocean frontage. The property features a large private pool, theater, wine room, chef’s kitchen, tennis court, and guest suite and is one of a handful of properties in south Florida with a helicopter landing pad.
The outdoor living areas include a covered indoor/outdoor living and dining area with a fireplace, and a pool area serviced by a set of outdoor steps with tile risers. The grounds feature gardens, groomed hedges and shrubs, and palm-dotted lawns.
Mr. Hoffman bought the main parcel in 2012 for $17.5 million and put the house on the market in June 2020
Ellison’s main property in Newport, RI is the Astor’s Beechwood mansion. He purchased it in 2010 for $10.5 million and has spent more than $100 million to renovate it for a planned art museum.
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