Billionaire Larry Ellison Buys $80 Million Estate In Palm Beach

The latest pricy purchase in Florida, one of the state’s highest, goes to Oracle co-founder Larry Ellison. He purchased this Tuscan style mansion from Gabe Hoffman, founder of Accipiter Capital Management, for $80 million or just a shave over its asking price of $79.5 million, reports the Wall Street Journal. Hoffman bought the main parcel within what eventually became a 7.94-acre estate for $17.5 million in 2012. Ellison has extensive real estate holdings around the country, including nearly all of a Hawaiian island and a 246-acre expanse he plans to turn into a high-end resort.

At 15,514-square-feet, the seven-bedroom property has 520 feet of ocean frontage and is one of the few homes in Florida that allow for private helicopter landing, says the listing. Located in Seminole Landing, itself a gated community, the estate has its own private gated entrance adding to the privacy and security of the property. Seminole Landing is a high-end enclave of North Palm Beach with fewer than a hundred homes inside its boundaries. Currently there are only three listings actively on the market, ranging from $2.8 million to $8.2 million.

The home Ellison purchased is ornately-designed, with coffered ceiling details as seen in the dining room above or one-of-a-kind adorned ceilings seen in the kitchen below.

A covered outdoor patio has a built-in fireplace with open archways showing a view of the palm tress beyond.

The entrance has a sweeping curved staircase with candelabra-like sconces to illuminate the artwork.

The home also comes with a wine room, tennis court, pool and professionally landscaped gardens.

Chris Leavitt and Ashley McIntosh of Douglas Elliman represented the seller. Tonja Garamella of Douglas Elliman represented the buyer.

This post first appeared on Forbes.com. To see the original, click here.