Oracle co-founder Larry Ellison has quietly acquired eight residential properties inside a single gated Florida development, spending nearly $10 million to house household staff and private tutors within commuting distance of his primary oceanfront estate, a report has said. The buying spree occurred over a matter of weeks in 2023 across Palm Meadows Estates, a 288-home community in West Boynton Beach located about 30 minutes from Ellison’s landmark Manalapan compound.As per a report by The Wall Street Journal, the acquisition unsettled several neighbours, prompting the community’s homeowners association (HOA) to pass formal ownership caps to block single buyers from amassing large property clusters in the future.
Larry Ellison’s secret house hunt
The acquisition drive started in March 2023 when Palm Meadows resident and LuxeIQ broker Kimmie Cruz was contacted by an outside agent seeking access to local listings for an undisclosed buyer looking to purchase roughly ten homes. The buyers focused on single-story ranch layouts, expanding their interest to properties not listed on the open market. That reportedly prompted Cruz to approach homeowners directly, pitching the opportunity of a verified cash buyer ready to close without standard listing hurdles.The buyer’s identity surfaced shortly after, when the 82-year-old tech billionaire toured the neighbourhood with his personal security guards. An LLC tied to Ellison closed on all eight properties across May and June 2023, spending roughly $10 million, according to county real estate filings cited by the publication.For some residents, the sudden purchases resulted in profits. For example, a family offloaded their three-bedroom, 2,100-square-foot house for $1.2 million – more than double the $567,000 they paid for it in 2019.
Housing for tutors and domestic Staff
The Palm Meadows homes stand in contrast to Ellison’s primary residence. While his flagship estate is a palatial trophy property, the Boynton Beach residences are conventional suburban homes with private yards and occasional pools.Sources familiar with the arrangement told The Wall Street Journal that the houses accommodate key staff who manage the billionaire’s daily operations, including educators instructing some of the five children he shares with his wife, Jolin Ellison. At the main Manalapan compound, dedicated spaces are set aside for homeschooling older children, who learn several languages under multiple private instructors.Residents report several staff members drive Tesla vehicles, and municipal records indicate building permits were filed to install Tesla Powerwall energy units across all eight homes following the purchase. (Ellison sat on Tesla’s board of directors from 2018 to 2022.)
Limits after community backlash
The concentration of properties under a single corporate owner drew friction from within the gated enclave, which features 24-hour manned gatehouses, a community clubhouse and water views from every lot. Uneasy about having a cluster of staff-occupied houses operated by an outside LLC, community members raised objections.According to Cruz, the Palm Meadows homeowners association enacted new ownership restrictions designed to stop similar bulk purchases.
Rising trend of Billionaire staff compounds
Ellison’s move highlights a growing pattern among ultra-wealthy executives, hedge fund founders and public figures who purchase off-site residential clusters for domestic employees. High-cost real estate markets make it difficult for essential staff, such as chefs, nannies, security personnel and estate managers, to reside within a practical driving distance.Housing staff in separate suburban quarters allows high-profile employers to maintain personal seclusion at their primary residences.