Larry Ellison Made $173 Million on Palm Beach Estate Near Trump’s Mar-a-Lago
Founder of Billionaire Oracle Larry Ellison traded the Pacific for the Atlantic, he changed his primary residence from Hawaii to his $173 million estate in Palm Beach County, FL, sitting a few miles from the President. Donald TrumpThe Mar-a-Lago Club.
Ellison, 81, with a net worth of $189.9 billion, makes him the seventh richest person in the world, according to the real-time ranking of Forbes – he made the change in the spring of 2023, but it was not disclosed until now.
Ellison, Oracle’s chief technology officer and controlling shareholder of Paramount Skydance, in May 2023 filed a “Declaration of Domicile” with Palm Beach County, officially moving his residence from Lanai, HI—an island he bought almost entirely in 2012—to his mansion on Billionaires Row in Manala.
“I hereby declare that my above-described residence and residence in the State of Florida is my primary and principal residence, and I intend to continue with it forever,” reads the document reviewed by Realtor.com® and first reported by Forbes.
Less than two weeks earlier, Ellison registered to vote in Florida, listing his Manalapan address but no party affiliation, according to Florida Department of State online voter records.
A highly private, secretive resort located on a barrier island between the Atlantic Ocean and the Intracoastal Waterway, Manalapan is home to a “who’s who” of business professionals and captains of industry, including WeatherTech’s founder and CEO. David F. MacNeil and wealth management specialist Robert Fessler.
Ellison’s Florida homestead—a 16-acre beachfront estate he’s buying in 2022 for $173 million—is just an 18-minute drive from Trump’s Mar-a-Lago estate, dubbed the “Winter White House.”
Ellisons’ Paramount beats Netflix in bidding war
Although the tech billionaire has never directly donated to Trump’s presidential campaigns, the two have become increasingly close.
Ellison and his son, David Ellisonwhich owns Paramount Skydance, on Wednesday scored a major victory in a high-profile, months-long bidding war to acquire Warner Bros. Discovery (WBD) after submitting an all-cash bid valued at approximately $111 billion ($31 per share).
The proposal also increased the termination fee to $7 billion, which represents the amount Paramount will pay if the deal fails.
Netflix, which had been vying for control of the studio and WBD’s broadcast businesses and previously offered $82.7 billion, declined to counter Paramount’s higher bid, saying the deal was “no longer financially attractive.”
Paramount Skydance launched a serious takeover bid after WBD accepted Netflix’s bid in December. Wanting to strengthen Paramount’s position, Larry Ellison even agreed to personally guarantee $40.4 billion.
“We are pleased that the WBD board has unanimously confirmed the high value of our offer, which brings high value to WBD shareholders, certainty and speed of closing,” said David Ellison, CEO of Paramount, in a statement before Netflix withdrew.
If approved by domestic and foreign regulators, the merger will position Warner Bros. Studio, HBO, CNN, and other cable networks under Ellison’ Paramount Skydance umbrella.
The father and son’s growing media empire already includes CBS, a network that has tended to be remarkably friendly to Trump since the beginning of his second term in the White House.
The change reflects Ellison’s well-known relationship with the president. Larry said in 2020 he supports Trump and wants him to “do well,” and last year he attended an event at the White House to launch the $500 billion Stargate AI infrastructure project that aims to build data centers across the US.
Oracle’s real estate empire revealed
Complementing his media and business interests, Larry Ellison oversees a formidable real estate portfolio now worth an estimated $2.9 billion.
His investments include a dozen properties in Malibu, CA, including a Hollywood producerJoel SilverA $38 million beach house and another oceanfront property he reportedly bought for $48 million.
Elsewhere in the Golden State, Ellison owns a mansion in San Francisco’s affluent Pacific Heights neighborhood, which he reportedly bought in 1988 for $3.9 million. The value of the home has almost tripled.
Forbes reported that he has other real estate interests in Redwood City and Woodside, California.
Across the Pacific Ocean in Hawaii, Ellison in 2012 reportedly bought 87,000 of the 90,000 acres that make up the small island of Lanai for $300 million—a purchase that included two hotels.
Since the purchase, Ellison has revitalized the island’s resorts and launched a high-tech hydroponic farming venture. According to Forbes, his Lanai investment has greatly appreciated, with the island now worth more than $1.2 billion—four times his original investment.
In Florida, Ellison paid $80 million in 2021 for a waterfront community with 24/7 security, the third largest project of its kind in Palm Beach County. Just one year later, he dropped $173 million on crowded Manalapan.
Ellison reportedly owns four properties in Newport, RI, including the popular ones The Astor the family’s former mansion is said to have been renovated to the tune of $100 million.
