Foreign Property News | Posted by Hnin Ei Khin
When you’re the world’s third-richest man – according to Forbes – with a net worth of $209 billion, buying real estate for price tags that would be shocking to most is just another day at the office for Oracle founder Larry Ellison. His recent $202 million purchase of a stately London office building is the latest jewel in a glittering real estate portfolio.
According to CoStar News, Ellison has agreed to buy the West End property from Hong Kong-listed investor Chinese Estates.
The property, located at 11-12 James Square, is currently entirely vacant, and Ellison, 80, is thought to be buying it for one of his businesses.
Chinese Estate purchased the building from Malaysia’s Employees Provident Fund for £175 million ($216 million in 2017).
(Newport, Rhode Island))
(Larry Ellison bought Beechwood Mansion in Newport and turned it into an art museum. Photo: @privatenewport/Instagram)
Ellison owns multiple properties in Newport, but his most prized one is undoubtedly his Beechwood Mansion on Bellevue Avenue. The historic house was originally built in 1851 and occupied by the famous Astor family, once among the richest and most prominent families in the US.
Ellison bought the property for US$10.5 million in 2010 and spent over US$100 million converting it into an art museum since then, according to the Newport Daily News.
Lake Tahoe
(The Cal Neva resort and casino was owned by Frank Sinatra from 1960 to 1968. Photo: Getty Images)
Ellison has owned and sold many mansions in Tahoe, which has been home to stars like Sammy Davis Jr, Frank Sinatra, Cher, Alanis Morissette.
In 2018, he also bought the famous Cal Neva Lodge in Tahoe for US$35.8 million to save it from bankruptcy.
(Lanai, Hawaii))
(American billionaire Larry Ellison’s Four Seasons Lanai in Hawaii is a playground for the rich and famous. Photo: Handout)
Per New York Post, Ellison splashed US$300 million to buy 98 per cent of Hawaii’s Lanai, a secluded island in Maui County, back in 2012, which includes 36,422 hectares (90,000 acres) of land and two Four Seasons resorts.
Carbon Beach, Malibu
(Larry Ellison has around two dozen homes in Malibu, California. Photo: @noburyokanmalibu/Instagram)
It’s believed that Ellison owns up to two dozen homes in Malibu, California, including around 10 on Carbon Beach, better known as “Billionaire’s Beach”. Business Insider reports the tech billionaire spent between US$200 million and US$250 million on properties in the area.
Woodside, California
Inspired by Japanese imperial design, Ellison’s stunning Woodside estate in sunny California covers 9.3 hectares (23 acres) and features an 8,000 sq ft home, 10 buildings in total, a lake, a teahouse and even a koi pond. He reportedly spent around US$200 million to renovate the property into a Japanese paradise, per Forbes.
San Francisco
(One of Larry Ellison’s earliest property investments was in San Francisco. Photo: Handout)
Built in 1958 and designed by William Wurster, Ellison’s 10,000 sq ft, five-bedroom home in San Francisco is valued at over US$20 million, per Forbes.
Porcupine Creek, California
(Larry Ellison’s Porcupine Creek estate includes a wellness retreat for the wealthy. Photo: @lilypondluxury/Instagram)
Ellison bought the 99.5-hectare (246-acre) Porcupine Creek estate for US$43 million.
Kyoto, Japan
(Beyond the US, Larry Ellison has a historic villa on the grounds of a Buddhist temple in Kyoto, Japan. Photo: Handout)
The property in Kyoto, Japan was originally listed for a reported US$86 million and is set become a Japanese art museum.
Ref: Oracle's Larry Ellison Has Just Bought A London Townhouse For $202 Million To Add To His Global Property Portfolio Photo Credit- Hand Out, @Lilypondluxury/Instagram, noburyokanmalibu, Getty Images, @privatenewport/Instagram