Why Larry Ellison Bought Eight Homes Near His Florida Estate

Oracle co-founder Larry Ellison bought eight homes in a gated Boynton Beach community in 2023, spending nearly $10 million, according to property records. The houses were reportedly intended for members of his household staff—not as investment properties—and sit about 30 minutes from his $173 million Manalapan estate. The purchases also prompted concerns among some neighborhood residents.

Key takeaways

The purchases created nearby housing for staff supporting Ellison’s household, while allowing employees to live outside the family’s main estate.

• An Ellison-linked LLC bought eight homes at Palm Meadows Estates in May and June 2023.
• The homes cost nearly $10 million in total and are roughly a half-hour drive from his Manalapan property.
• Some residents objected to one buyer acquiring so many homes; the homeowners association later adopted rules intended to prevent similar buying sprees.

How the home search unfolded

The search began around March 2023, when local real estate agent Kimmie Cruz said a broker approached her seeking about 10 homes for an unnamed buyer. The team reportedly favored single-story ranch houses and pursued some properties that were not listed for sale. Ellison later toured homes accompanied by bodyguards, and contracts followed.

An LLC connected to Ellison ultimately closed on eight properties over May and June, property records show. They are relatively modest suburban houses, some with private pools. One couple, Paul and Yvonne Carozza, sold a three-bedroom home of about 2,100 square feet for $1.2 million, after buying it for $567,000 in 2019, according to records.

Housing for household employees

People familiar with the arrangement told the Wall Street Journal that the homes are used by Ellison’s household employees, including tutors for some of the five children he shares with his wife, Jolin. The children are reportedly homeschooled and learn multiple languages. The staff houses are separate from the family’s main residence.

Providing nearby housing can help employees avoid lengthy commutes and high housing costs, while also preserving privacy at a principal residence, staffing expert Peter Mahler told the Journal. The approach reflects a broader practice among wealthy homeowners of arranging nearby accommodation for nannies, tutors, chefs and other household workers.

The Manalapan estate and neighborhood response

Ellison bought Gemini, a roughly 15-acre estate in Manalapan stretching from the Atlantic Ocean to the Intracoastal Waterway, for $173 million in 2022. The deal set a Florida residential sales record at the time, according to the reports. Palm Meadows Estates, by contrast, is a 288-home community in West Boynton Beach with staffed security and a clubhouse.

Some Palm Meadows residents were unhappy that one owner had accumulated so many homes in the neighborhood. Cruz said the homeowners association later adopted restrictions aimed at preventing another similar concentration of purchases. Residents also reported Tesla vehicles at some staff homes, and county records show permits for Tesla Powerwalls at all eight properties. Ellison served on Tesla’s board from 2018 to 2022.

• Larry Ellison quietly buys 8 homes in 1 neighborhood, New York Post.
• Why did Larry Ellison buy 8 homes: In 2023, Larry Ellison bought 8 homes near his $173 million Florida estate, the reason has nothing to do with investing – here’s why, The Economic Times.