While Larry Ellison is best recognized for his role as Oracle Corp. CEO, the billionaire is also known for his many real estate acquisitions.
His daughter Megan Ellison seems to be following in his path. In addition to working as a film producer of successful pictures like "American Hustle," "Lawless", "Zero Dark Thirty" and "True Grit," she is also a real estate maven. She just bought two parcels in Los Angeles – a $20 million contemporary home and the neighboring piece of land for $10 million, according to the Los Angeles Times. Ellison recently sold three properties in the LA area and this past June bought a 1-bed, 1-bath apartment in New York City.
Her newest purchases closed just before the new year. The $20 million home is a modern structure built in 1990 that features curved lines, open glass walls and a spectacular view of the city lights below. The 9,204-square-foot home has 6 bedrooms, 8 baths as well as two guest apartments. High-end features include marble floors, a full bar, sand volleyball court and pool with grotto. Located in the Hollywood Hills, Ellison's purchase was quite pricey for the area. The most expensive home currently on the market there is listed for $28 million; the remaining 264 listings are listed closer to the median home value of $1,371,800.
Since Ellison also bought the parcel next door, there are rumors that the property flipper will raze the modern house and build a completely new residence. Her other homes were renovated before she returned them to the market.
Related items from Zillow Blog:
- Reese Witherspoon Sells Ojai Retreat
- 'Transformers' Director Michael Bay Lists LA Home for $13.5 Million
- Larry Ellison Buys Malibu House From Former Yahoo! CEO