Larry Ellison sells something for once: Oracle CEO puts his stunning Lake Tahoe home on the market for $28.5 million
Larry Ellison, the multi-billionaire Oracle CEO is better known for buying, not selling – but if anyone has $28.5 million spare then his beautiful Lake Tahoe mansion could be yours.
Located in Glenbrook, Nevada, the 2.62-acre estate boasts a 9,242-square-foot lake front home that has six bedrooms, eight full bathrooms and has been remodeled by the flamboyant Ellison over the course of three years.
Originally intended to be his primary home on the iconic lake, Ellison has put the stunning home on the market because his other 7.6-acre estate on the more exclusive north shore of the lake is almost finished.
The 2.62 acre estate looks out along 230 feet of Tahoe waterfront in the town of Glenbrook, Nevada
With 230-feet of lake frontage, the main Glenbrook home has a soundproof screening room, a gym, a billiard room, a library and a sauna that comes complete with a Japanese soaking tub.
Along with the impressive main property is a 1,326-square-foot, two-bedroom, three-bathroom guesthouse and another 2,934-square-foot lakefront home that has five bedrooms, three bathrooms and two half-bathrooms.
The lake front boasts a private white-sand beach, with two piers jutting onto the water along with a floating dock, two buoys and a rock breakwater.
For the hot summers, a 426-square-foot lakeside cabana has a built-in barbecue on the roof and a hot tub in case the crystal clear waters of Lake Tahoe are not enough to satisfy any multi-millionaire buyer.
The lake front has its own private white sand beach and two small piers that jut out into the water along with a rock breakwater
The wonderful property has a 426-square-foot lakeside cabana that has a built-in barbecue on the roof and incredible views out across the iconic Tahoe scenery
The Oracle CEO spent three years refurbishing the property after purchasing it originally in 2006 for $11.7 million for the main house and 1.6 acres
Around the homes are a terraced garden that has a pond, a small waterfall and a stream – all protected by a state-of-the-art security system and a guardhouse at the front of a drive.
To make the property even more impressive a purchase it is situated on the east shore of the lake along a part known as a 'banana belt' due to the amount of sun that it gets.
Ellison put together his Tahoe property over the course of three years according to records available online and bought the home in 2006 for $11.7 million that contained 1.6 acres of land.
Buying up the adjoining homes either side, Ellison paid $3.3 million in 2009 for the land and began refurbishment.
Lightening his portfolio is not what Ellison is known for – in February he acquired an airline – Island Air – to go along with his $600 million Hawaiian island.
The acquisition of Island Air, which travels between the Hawaiian islands, came after Ellison, who is worth $41 billion purchased the island of Lanai, off the coast of Maui in June.
Ellison is the world's eighth-richest man, with an estimated net worth of $40.7 billion, according to Forbes magazine.
Ellison wanted the beautiful home to be his primary home at Tahoe, but has put it on the market because he has finished another development on the more exclusive north shore of the lake
The Oracle CEO is reputed to be worth $40.7 billion, according to Forbes magazine and is the world's eighth richest man
The property is situated on the east shore of the lake along a part known as a 'banana belt' due to the amount of sun that it gets
One of the six impressive bedrooms that Larry Ellison refurbished in his Lake Tahoe home that has gone on the market for $28.5 million
In October, Ellison said he wanted to turn Lanai into a 'little laboratory' for experimenting with more environmentally sound ways to live.
Oracle CEO Larry Ellison's ambitions include converting sea water into fresh water on the 141-square-mile island of Lanai.
He also wants to see more electric cars on the island located near Maui, and hopes to increase its fruit exports to Japan and other markets.
Ellison, named America's third richest man by Forbes magazine, announced his plans in San Francisco in October in an interview with the financial news channel CNBC.
The interview focused mostly on Oracle Corp, a business-software maker that Ellison – who also owns the 454ft long Rising Sun – super yacht has been running for 35 years.
He also touched upon several other topics, including his friendship with the late Steve Jobs and his interest in buying the Los Angeles Lakers, if the professional basketball team were ever for sale.
One of the world's richest men: Computer technology giant Oracle's CEO and founder Larry Ellison has an estimated fortune of $41billion
The 9,242 square foot manse has 6 bedrooms and 8.5 bathrooms. In 2009, Ellison, in his typical fashion, bought the adjacent two parcels for $3.3 million
Besides the amazing Tahoe waterfront views which can be enjoyed from the outdoor jacuzzi, the property has a gym, billiard room, library, sound-proof screening room and a sauna
With 230-feet of lake frontage, the main Glenbrook home has a soundproof screening room, a gym, a billiard room and a library
He rebuilt this property 'from the studs up,' according to a press release on the sale of the home
Oracle's success has minted Ellison an estimated fortune of $41billion. He bought 98 per cent of Lanai from billionaire David Murdock in June for an undisclosed price.
The Maui News reported that Murdock, the CEO of Castle & Cooke Inc, was seeking $500million to $600million for his Lanai holdings.
Ellison hadn't publicly shared his vision for Lanai until October's interview. The silence had left Lanai's roughly 3,200 residents wondering whether their lives would be disrupted under Ellison's ownership.
In past interview's Ellison has said he intends to 'support the local people.'
Some of the features he added are 'a fully heated driveway and entry, heated patios and walkways, wall-to-wall pocket glass doors, humidifying system and a security system
Ellison's Lanai holdings include two resorts, two golf courses and assorted commercial and residential buildings. Three utilities on the island also are under Ellison's control
Lanai is just one piece of Ellison's sprawling real-estate portfolio. He also owns estates or mansions in San Francisco, Lake Tahoe and southern California, as well as in Newport, Rhode Island. and Japan.
He told CNBC in an October interview that he plans to convert some of the homes into art museums and traced his interest in fancy homes to his childhood dream of being an architect.
Ellison has called the Lakers his favorite NBA team. He also said he is a fan of the Golden State Warriors and the Chicago Bulls.
Paradise: The 141 square-mile paradise island had a reported price tag of $600million. The relatively untouched island features attractions such as Pu'u Pehe Rock [pictured]
Holiday hotspot: Lanai is the smallest publicly-accessible island in Hawaii
He tried to buy the Warriors in 2010 only to be outbid by Silicon Valley venture capitalist Joe Lacob and Hollywood movie producer Peter Guber.
Oracle, which makes database software and applications that automate administrative tasks, has been on a shopping spree that has seen the company spend more than $50billion buying dozens of companies over the past seven years.
Ellison told CNBC that Oracle probably won't be making any big acquisitions during the next two years as the Redwood Shores, California company fine tunes its software products so they can be sold as a service over high-speed Internet connections – a concept known as 'cloud computing'.
Big spender: Ellison bought the mansion off former Yahoo CEO Terry Semel and his wife for a reported $36.9million
Larry Ellison also owns the 454ft long Rising Sun super yacht, which cost more than $200m