--- title: "Larry Ellison Acquires $10 Million in Homes for Household Staff" url: https://newscentral.site/larry-ellison-acquires-10-million-in-homes-for-household-staff/ language: en publisher: "News Central Site" section: "Business" published: 2026-10-08T07:04:00.000Z updated: 2026-10-08T11:48:49.244Z id: 99c04370-380c-4e28-9d62-f10858ca6d70 source: "Fortune https://fortune.com/2026/10/08/ultrawealthy-buying-nearby-homes-to-keep-staff-close-larry-ellison-mark-zuckerberg/" attribution: "Link to https://newscentral.site/larry-ellison-acquires-10-million-in-homes-for-household-staff/ and name News Central Site when you quote or summarize this story." --- # Larry Ellison Acquires $10 Million in Homes for Household Staff Oracle co-founder Larry Ellison is buying up homes in Florida to house his family staff members. The world's richest individuals are making strategic real estate investments, acquiring properties that serve as accommodations for their household staff rather than personal residences. Oracle co-founder Larry Ellison is a notable example of this trend. In 2023, he purchased nearly $10 million worth of homes in a gated community in Boynton Beach, Florida, to house family staff members, including tutors for his five children with wife Jolin Ellison. The newly acquired properties are located about 30 minutes from Ellison's existing oceanfront estate in Manalapan, Florida, which he bought a year earlier for $173 million. This purchase set a record as the most expensive residential property ever sold in Florida at the time, according to local reports. Ellison is not alone in this practice; other ultra-wealthy individuals are also buying up homes for their staff while expanding their personal property portfolios. The arrangement allows employees to remain "close enough to be helpful" without compromising family privacy, according to those familiar with such arrangements. The purchases were made through an Ellison-linked LLC based in California, which acquired eight homes in the Palm Meadows Estates area, highlighting the extent of this trend among the world's wealthiest individuals. The trend of wealthy individuals acquiring nearby properties to accommodate their staff is becoming increasingly prevalent. To maintain anonymity, these affluent buyers are using complex financial structures such as limited liability companies (LLCs), privacy trusts, and off-market listings. This allows them to keep a low profile even in areas where they own multiple properties. In the case of Larry Ellison's investments in Manalapan, he has spent at least an estimated cumulative $450 million on real estate. The island town, which has only 400 residents, is located about 20 minutes from Mar-a-Lago and has become a hub for billionaires looking to invest in luxury properties. The surrounding area, including Palm Beach, has seen a surge in popularity among the ultrawealthy due to its exclusive amenities and high level of security. In fact, security has become an attractive feature for many buyers in the region. Mark Zuckerberg, worth $261 billion, is also building a family compound in Palo Alto by acquiring multiple properties in the city's Crescent Park neighborhood. The tech mogul has spent over $110 million on at least 11 houses since buying his first property there in 2011. Zuckerberg often offers significant premiums to acquire these homes, sometimes paying double or triple their market value. Several of the acquired properties sit empty, while others are used for various purposes such as hosting guests or serving as private schools, highlighting the diverse needs of the tech executive's family compound. The ultrawealthy are known for their unique approach to real estate investments, often opting for a diversified portfolio rather than tying up all their funds in one property. This strategy is reflected in Larry Ellison's refinancing of his Palo Alto home with a 30-year adjustable-rate mortgage in 2012, which carries an interest rate of just 1.05%. Such low-interest rates are not uncommon among high-net-worth individuals who prioritize keeping their money invested. Ultrahigh-net-worth individuals tend to view liquidity and leverage differently than the general public, according to Miltiadis Kastanis, executive director of sales at Compass. They prefer to keep their wealth working for them through investments, businesses, or even art, rather than tying it up in one property. Mark Zuckerberg's family compound has been a point of contention among neighbors in Palo Alto, with some expressing frustration over the arrangement. To mitigate this, Zuckerberg's staff took steps to ease tensions during construction, handing out noise-canceling headphones to affected residents as a gesture of goodwill. Zuckerberg's family has made significant efforts to integrate into the local community, with a spokesperson noting that they have been Palo Alto residents for over a decade and value their membership in the community. To avoid disrupting the neighborhood, they have taken steps above and beyond what is required by local regulations. The city council in Palo Alto has struggled to respond to concerns raised by neighbors, voting down a plan aimed at regulating properties held by multiple owners on a single block. The proposal would have capped construction times, required security guards to be licensed, and set occupancy rules, but it ultimately failed to gain approval from the City Council. Concerns are growing among local residents about the precedent set by Crescent Park, where nearby homes have been bought up by tech moguls as makeshift offices for their staff. The worry is that other neighborhoods may soon follow suit, as developers and wealthy individuals look to replicate the model in other areas of Palo Alto. --- Source: [Fortune](https://fortune.com/2026/10/08/ultrawealthy-buying-nearby-homes-to-keep-staff-close-larry-ellison-mark-zuckerberg/) Published by News Central Site: https://newscentral.site/larry-ellison-acquires-10-million-in-homes-for-household-staff/