Oracle founder plans to demolish his $80 million mansion

Larry Ellison, co-founder of Oracle (76.82, 0.15, 0.20%) and a technology tycoon with a value of $91.5 billion, said he planned to demolish the palm beach mansion in Florida that he had just spent $80 million on, and said he would continue to use an island in Hawaii as a permanent residence.

 

Ellison sent an email to Oracle employees this week explaining his plans for the future. Earlier, it was reported that he had bought a 15000 square foot mansion in Palm Beach. Ellison confirmed in an email that he had bought the mansion, but said he intended to “tear it down and not move to Florida.”.

 

“Last year, I moved from California to Lana and became a resident of Hawaii,” Ellison wrote. I love it here, and I’m not going to move back to Florida, Texas, California Or anywhere else. ”

 

Ellison’s recent purchase of the mansion, the third largest waterfront complex in Palm Beach County, is located on a 7.35 acre gated land above Seminole Beach Road, providing a panoramic view of the ocean. It has 15000 square feet of living space filled with hand-painted tiles, formwork ceiling beams, carved fireplaces and gilded decorations.

 

The mansion was built in 1998, and it’s not clear why Ellison wanted to tear it down. Ellison already has a wide real estate portfolio, including San Francisco, Rhode Island, Japan, Malibu, California and a property near Lake Tahoe.

 

But in any case, the tech tycoon doesn’t seem to want to live in the mansion or anywhere else in the US.

 

Ellison revealed last year that he moved to Lanai Island in Hawaii during the new crown pandemic. He plans to use zoom (329.2, – 13.55, – 3.95%) to telecommute on the island. Since Oracle moved its headquarters to Austin, Texas, employees have been asking about Ellison’s plans.

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