Entertainment

Oracle billionaire’s $173 million estate sets Florida record

Billionaire Jim Clark has sold, for a listed amount of $173 million, the massive property he bought last year for a listed amount of $94.17 million on the southern tip of Manalapan, Florida, near Palm Beach.  The buyer is a company linked to software billionaire Larry Ellison of Oracle Corp.

PALM BEACH, Fla. – Billionaire Larry Ellison, who was recently ranked by Forbes as the eighth-richest person in the world, spent $173 million of his fortune to buy a Florida resort in Manalapan, a wealthy city south of Palm Beach. . The transaction marks the largest residential sale ever in Florida.

Ellison bought the ocean-to-lake property, and part of nearby Bird Island, from a trust controlled by another software billionaire, Jim Clark. In total, the farm and its island measure more than 22 acres.

Ellison used a limited liability company to purchase the property in Manalapan, according to the Palm Beach Daily News, part of the USA TODAY Network.

The land has been in the hands of the extremely wealthy for years. Clark bought the property in 2021 from the billionaire Ziff family, who made their fortune in publishing and investing.

In this Oct. 2, 2012, file photo, Oracle CEO Larry Ellison gestures as he gives a keynote address at Oracle OpenWorld in San Francisco.

Historically known as Gemini, the estate is bisected by a coastal road. The two sections of the main house, one facing the lake and the other facing the ocean, are linked by a series of tunnels under the street, including one that serves as a lobby and art gallery.

Densely landscaped, the property has about 1,200 feet of beach frontage and about 1,300 feet of ocean frontage on the irregularly shaped side facing the Intracoastal Waterway.

The ocean-to-lake property that just sold for a record $173 million in Manalapan, near Palm Beach, is highlighted in red at the top right of this aerial photo.

Together, the main residence and various 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 property 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 sanctuary bird and butterfly garden. All of those items were in place when Clark’s trust bought the property.

So who is Larry Ellison? Here’s a look at the billionaire.

How rich is Larry Ellison?

On June 22, the day the Florida sale deed was filed, Forbes estimated the 77-year-old’s net worth at $93.6 billion.

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