Oracle CEO Larry Ellison has just added another property on “Billionaires Row” property to his already large collection for expensive Malibu beachfront mansions. Purchased from former Yahoo! CEO Terry Semel for a whopping $36,943,890 which is the most expensive transaction for Malibu this year. However, Larry got the house for a bargain since it was originally listed for $50 million, then dropped to $40 million.
The 10,000 square foot home was built in 1992 and designed by Michael Graves. Described as the “jewel of Carbon Beach”, the home sits on a 3 quarter acre lot with two other buildings. Altogether there are 9 bedrooms, 13 bathrooms in a nautical theme.
There is also a copper roofed pavilion that is used as a family den and a two story guesthouse. A gazebo set up for dining outdoors sits by the large swimming pool and the 151 feet of beach frontage.
Ellison is also the owner of a several properties along the Carbon Beach coast and he has been seemingly locked in a battle with media mogul David Geffen to see who would wind up owning the most property along the 22000 block of the Pacific Coast Highway, which it seems like Larry has finally won.
Some of Ellison’s other neighbors include the former Dodgers CEO Jamie McCourt and business magnate and former junk bond king Michael Milken. Ellison first started his collection of homes along the Malibu beach back in the early 2000s when he bought up 5 adjacent homes for about $65 million.
Even though the Malibu estate is a substantial addition to Ellison’s collection of properties, it pales in comparison to the estimated $500 million deal he made earlier this year to purchase 98% of the Hawaiian island of Lanai.
As of 2012, Ellison has been listed by Forbes Magazine as the third wealthiest American citizen, with an estimated net worth of $41 billion. The majority of his fortune has come from his 22.5 percent ownership of Oracle.
Home Address: 22314 Pacific Coast Hwy, Malibu, CA 90265 (California)
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