October 28, 2011

Larry Ellison’s Exceedingly Fashionable Abutting Estates

Larry Ellison may be the co-founder and CEO of Oracle, but in more than a few circles he is just as well known for his big time real-estate-ing. And it isn’t just the number of properties he’s bought over the years that’s noteworthy, it’s his acquiring style — he buys multiple celebrated properties in single exclusive areas around the world. Today, his properties comprise a globe-trotting patchwork of luxurious residential living.

It seems that a special predilection of this uber-rich captain of industry is buying huge adjacent properties and combining them into ginormous structures. In star-studded Malibu, California, for instance, Ellison has five abutting properties. If he wants a view of a more southerly ocean — and is willing to commit to an hour-and-a-half freeway drive — he can get to his Newport Beach mansion, which was once a bona fide Astor family home. If he wants a change of scenery, but doesn’t want to leave his beloved Golden State, he can travel east to Rancho Mirage, were a personal 19-hole golf course awaits him. And if a jet is handy, and he’s feeling especially green-thumb-y, he can cross the Pacific to get to Kyoto, and cut some shrubs in his famous “historic garden.”

Of late, Ellison has been busy in the federal borderlands around Lake Tahoe. Reportedly, he’s coughed up about $102 million on separate properties to create three big lakefront lots. One of these, located in Washoe County, Nevada, will have a residence comprising 18,000 square feet of living space. The other properties he’s snapped up around the area are in Incline Village (a.k.a. “Income Village), Snug Harbor, and Glenbrook, which is a gated community. The Snug Harbor quantity is unknown, but he spent $12 million in Incline Village and $11.7 million in Glenbrook. Real estate professionals think Larry Ellison’s kindred spirits include Paul Allen (Microsoft’s co-founder) and Russian tycoons like Roman Abramovich.

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