Summary List PlacementTech billionaire Larry Ellison has paid $80 million for a 15,000-square-foot beachfront mansion in Palm Beach, Florida, The Wall Street Journal first reported. The Oracle cofounder, who's worth $89.3 billion, bought the estate from hedge-fund manager Gabe Hoffman, who put it on the market in June 2020 for $79.5 million, as Katherine Clarke reported for the Journal. Chris Leavitt, Ashley McIntosh, and Tonja Garamella of Douglas Elliman handled the transaction and declined to comment on the deal. Ellison said in December that he had moved from California to Lanai, the Hawaiian island he owns.