Posted on 06/24/2022 1:12:54 PM PDT by blam
Last week, billionaire internet entrepreneur (Netscape co-founder) Jim Clark broke the news to the WSJ that he sold his oceanfront estate near Palm Beach, Florida, for $173mln. At the time, Clark wouldn’t reveal who the mystery buyer was.
Bloomberg reports the buyer of the most expensive property ever sold in Florida is no other than billionaire Oracle Corp. co-founder Larry Ellison.
Ellison’s new estate includes a 62,000-square feet Mediterranean-style mansion and several other buildings on the property with more than 30 bedrooms. It was noted by Bloomberg
The real estate transaction was off-market. Clark bought the estate in early 2021 for $94 million. Despite soaring interest rates and a souring economic backdrop in the US, Ellison still paid an 84% premium from when Clark purchased the estate.
Last year, Ellison spent $80 million on a North Palm Beach mansion that he intends to demolish. He owns homes in the San Francisco Bay Area and Malibu, as well as 98% of a Hawaiian island he purchased for $300 million in 2012.
Billionaires have fled to South Florida since the virus pandemic, buying up as much land and mansions as possible to escape liberal-controlled metro areas quickly sliding into a violent mess. Also, Florida is pro-business and tax-friendly, unlike blue states.
This week, billionaire Ken Griffin announced Citadel’s headquarters are moving to Miami. Currently based in Chicago, Griffin said in May his “patience is wearing thin” as the metro descends into a summer of hell under the failed leadership of liberal Mayor Lightfoot.
Other firms like Goldman Sachs have moved offices to South Florida as New York City is another cesspool. Some have referenced South Florida as “Wall Street South.”
Makes you wonder why a guy with Jim Clark's money would sell.
Nice...
Almost 100mil profit will do that to you
Looks like it comes with it’s own golf course. Money well spent.
Ellison has a big chunk of Oracle. He had a private golf course in Palm Springs that Obama played on the day Trump took over. Now Ellison is red pilled.
Crap!
I’d been waiting for that increase in Soc Sec next year so we could buy that as a weekend getaway...
Crap!
If Ellison put his net worth in t-bills yielding 3%, he could buy 3 of these every year, just from the interest.
Clark is getter my old. Lot of bathrooms to clean.
Shou’da, Coul’da, Woul’da !!! I should have kept turning wrenches back in the late 80’s when I was working on His XJS.
I’d probably be working on a Fleet of vehicles for Him.
Hindsight is always 20/20
Looks like the local teens are going to have a better place to party when Larry’s not home!
What does red-pilled mean??
Maybe all the guys since were bums and you could get back in... Was that near Redmond? Didn’t he have a oriental themed house?
It is the belief that a person who takes a red pill can learn the truth to an unknown situation.
If this is the property I think it is (in Manalapan), it’s amazing. I’ve been there a few times. Even played the mini golf course.
UNKNOWN situation......hmmmmm.
It is, right next door to Palm Beach. This is a very nice area.
Ken Griffin just spent $375 million assembling land just up the road from Manalapan.
Coulda, Woulda, Shoulda...
Nah.
You’re better off now, FRiend.
I thought they said Harlan Ellison.
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