Larry Ellison, the Oracle billionaire who was recently ranked as the world’s eighth-richest person, has made a record-breaking purchase in the Sunshine State. Ellison has dropped a staggering $173 million to buy a Florida compound in Manalapan, a wealthy town south of Palm Beach. This transaction marks the largest residential sale ever in Florida.
The estate, historically known as Gemini, is more than just a home. It’s a sprawling compound that spans over 22 acres, including part of nearby Bird Island. The property was previously owned by fellow software billionaire, Jim Clark, who had purchased it from the billionaire Ziff family in 2021.
The Gemini estate is bisected by a coastal road, with the two sections of the main house – one facing the lake and the other, the ocean – linked by a series of tunnels beneath the street. One of these tunnels serves as a foyer and art gallery. The property boasts about 1,200 feet of beach frontage and about 1,300 feet of waterfront on the irregularly shaped side facing the Intracoastal Waterway.
The main residence and several outbuildings offer nearly 85,000 square feet of living space, inside and out, with 33 bedrooms, 34 bathrooms, and 13 powder rooms. The park-like estate includes a PGA-standard golf practice area, a regulation tennis court, a half basketball court, a freshwater pond, an 18-hole miniature golf course, a boat dock, a bird sanctuary, and a butterfly garden.
Larry Ellison, with a net worth of roughly $93.6 billion, co-founded Oracle Corp. with two partners in Santa Clara, California, in 1977. Today, the software powerhouse bills itself as the world’s largest database-management company. Ellison spent 37 years as CEO and still holds the titles of chairman and chief technology officer at the company.
This latest mammoth transfer adds another jaw-dropping jewel to Ellison’s real estate portfolio. Ellison signed over $300 million for 90 acres on the Hawaiian island of Lanai that currently serves as his home base. The mogul also boasts a selection of homes across California, including a dozen spreads in Malibu.
This record-breaking purchase underscores the appeal of Florida’s real estate market, which has seen a surge in high-profile transactions in recent years. With its favorable tax climate and beautiful weather, the Sunshine State continues to attract the world’s wealthiest individuals.
A Smart Investment: The Appeal of Manalapan, Florida
Larry Ellison’s recent purchase of a mansion in Manalapan, Florida, is not just a testament to his wealth, but also a strategic real estate investment. Here’s why this property, and the area it resides in, is a good investment:
Prime Location
Manalapan is a coastal town that enjoys all the benefits of its location on the Atlantic coast. It’s situated just minutes away from some of the world’s most famous beaches and resorts, making it a popular destination for vacationers and tourists. Its prime location makes it a perfect place to invest in real estate.
Luxury Homes and Oceanfront Properties
Manalapan is located in the heart of Palm Beach County, one of the most affluent counties in the United States. This means that there are many high-end homes and businesses located in the area. Many of the homes in Manalapan are oceanfront properties, and the architecture is designed to take advantage of the stunning views.
Excellent Schools
There are many excellent schools in the Manalapan area that are perfect for families. The schools are highly rated and offer a variety of programs that are perfect for academic excellence.
Beautiful Beaches
With its beautiful beaches and relaxed atmosphere, Manalapan is a great place to call home. The beaches in Manalapan are a big draw for buyers looking for oceanfront homes.
Thriving Business Atmosphere
A thriving business atmosphere is essential for any town or city to prosper. Businesses are the lifeblood of any community, and they provide the jobs and tax revenue that keep things running smoothly.
Great Return on Investment
The significance of Manalapan’s growing real estate market is that it makes it a great investment opportunity. The oceanfront homes for sale in Manalapan are highly sought-after.
In conclusion, Ellison’s recent purchase in Manalapan is not just a display of wealth, but a strategic investment in a location that offers a prime location, luxury homes, excellent schools, beautiful beaches, a thriving business atmosphere, and a great return on investment.
