Larry Ellison, the founder and CEO of Oracle Corporation, has reportedly sold one of his three water-front homes in Lake Tahoe, Nev., for $20.35 million.
Ellison listed the property for $28.5 million in 2013 with Jennie Fairchild of Chase International. At that time, Fairchild told The Wall Street Journal that Ellison decided to sell because he was building another large property on the northern shore of the lake.
"This was originally intended to be his primary home at Lake Tahoe," Fairchild was quoted by The Huffington Post when the property hit the market.
"But later, he had the unique opportunity to design and build a legacy property on the north shore of Lake Tahoe for both himself and his family."
The home in question here is located in Glenbrook and has about 230 feet of private lake frontage. Two more properties are listed for sale near the area for a combined $4.15 million.
According to the public records, Ellison amassed the three Glenbrook properties over a span of three years. He purchased the main house for $11.7 million in 2006 and in 2009 he paid an additional 3.3 million for the other two parcels.
The home that just sold is the main house that spans an area of 9,242 square feet and is comprised of six bedrooms, eight full and one half bathrooms. Ellison gave the residence a complete overhaul, which took three years.
Currently, the home boasts of a soundproof theater, a game room, a gym, a spa and a detached 1,326-square-foot guest house as well. Curbed has some photos of the home.
While Ellison just sold of a Lake Tahoe property, he also snapped up the famous Hotel Lanai on the eponymous Hawaiian island. The billionaire already owns 98 percent of the island. He purchased it from fellow businessman David Murdock for $500 million and the deal included 88,000 acres of land, two golf courses, two resorts, a stable and many commercial and residential buildings in the area.
Ellison has a penchant for real estate. Last year, he purchased the Carbon beach home of producer Jerry Bruckheimer because it was located between two of his nine houses in the area.
Ellison spent something in the range of $200-$270 million on more than a dozen properties in Malibu through nine separate transactions over the last ten years.
In an interview with CNBC, Ellison explains his love for land and buildings.
"When I was a kid, the first thing I ever wanted to be was an architect. So I love building houses, remodeling houses, designing houses, converting houses."
And buying and selling as well!
Take a look at his full real estat eportfolio here.
