Oracle co-founder Larry Ellison has purchased a North Palm Beach mansion from hedge-fund manager Gabe Hoffman, the founder of Accipiter Capital Management, for $80 million, according to two people familiar with the deal. The property sold for just above its $79.5 million asking price.
Mr. Ellison could not immediately be reached for comment.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| ORCL | ORACLE CORP. | 75.67 | +0.35 | +0.46% |
The oceanfront compound has over 520 feet of ocean frontage in the ultra-pricey Seminole Landing neighborhood, according to the listing. Seminole is a gated community with 24-hour security.
The 15,514-square-foot Tuscan-style property has seven bedrooms, a home theater and a wine room. It also includes a tennis court and is one of a handful of properties in Florida where someone could land and take off in a helicopter from the estate, according to the listing.
Mr. Hoffman bought the main parcel in 2012 for $17.5 million and put the house on the market in June 2020, records show. He was not immediately available for comment.
Chris Leavitt and Ashley McIntosh of Douglas Elliman represented Mr. Hoffman. Tonja Garamella of Douglas Elliman represented Mr. Ellison. Both sets of agents declined to comment.