According to analysis of property records and information from informed sources reported by The Wall Street Journal, Larry Ellison, co-founder of Oracle, quietly purchased eight houses in a small gated community called Palm Meadows Estates in Boynton Beach, Florida, for approximately $10 million. These houses were intended for use by his children’s tutors and other staff members.
This flurry of home purchases took place in 2023, with each of the eight properties having different sellers. Most of the properties were not listed for sale, yet transactions were swiftly completed within a few weeks. With a net worth of around $200 billion, property records indicate that a limited liability company associated with Ellison finalized all eight transactions between May and June 2023. These houses are located approximately a 30-minute drive from Ellison’s waterfront estate in Manalapan, Florida.
Reported by The New York Post, the homeowners association of the community where these eight houses are situated reveals that the project comprises 288 residential lots, all with waterfront views, and comes with 24-hour security personnel and clubhouse facilities.
Sources informed The Wall Street Journal that these houses are meant for Ellison’s household staff, including tutors for some of the children he shares with his sixth wife, Jolin Ellison.
Ellison and his wife have not publicly disclosed detailed information about their five children under 18 years old. Sources reveal that the couple is deeply invested in their children’s education. Ellison’s waterfront estate in Manalapan includes multiple buildings, one of which is a designated area for older children to study at home. It is reported that the household employs multiple tutors to educate the children in various languages.
The Wall Street Journal notes that these property transactions offer a rare glimpse into a phenomenon that has long been kept out of the public eye: super-rich individuals expanding their personal real estate portfolios while also acquiring housing for the staff members who help run their households. Some of the wealthiest individuals worldwide are creating self-contained ecosystems where household staff live close enough to offer assistance yet maintain enough distance to preserve the privacy of their employers’ families.
Peter Mahler of Mahler Private Staffing stated that an increasing number of wealthy individuals are purchasing or renting housing for their household staff. Incorporating housing into employee compensation packages makes it easier to attract high-quality staff.