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Billionaire Larry Ellison, 82, has a $173 million oceanfront compound in Manalapan, Florida. About 30 minutes away, he owns eight more homes. They\u2019re all for his family\u2019s staff, including tutors for some of the five young children he shares with his wife, Jolin.<\/p>\n
The purchase was shrouded in secrecy. In 2023, an LLC bought the houses in Palm Meadows Estates, a gated community in Boynton Beach, for almost $10 million, The Wall Street Journal report<\/a>s. Nosy neighbors guessed it was Mark Zuckerberg or Elon Musk. Even the local agent who helped line up the deals didn\u2019t know who the mystery buyer was until Ellison arrived to tour the homes, flanked by bodyguards. <\/p>\n The real estate grab is part of a larger trend among the ultrarich to buy up housing for their employees. It helps them recruit top talent in pricey markets while keeping staff close enough to help, far enough to stay out of the way. \u201cInvesting in lodging can be a very smart decision,\u201d said Peter Mahler of Mahler Private Staffing.<\/p>\n<\/p><\/div>\n Billionaire Larry Ellison, 82, has a $173 million oceanfront compound in Manalapan, Florida. About 30 minutes away, he owns eight more homes. They\u2019re all for his family\u2019s staff, including tutors for some of the five young children he shares with his wife, Jolin.<\/p>\n The purchase was shrouded in secrecy. In 2023, an LLC bought the houses in Palm Meadows Estates, a gated community in Boynton Beach, for almost $10 million, The Wall Street Journal report<\/a>s. Nosy neighbors guessed it was Mark Zuckerberg or Elon Musk. Even the local agent who helped line up the deals didn\u2019t know who the mystery buyer was until Ellison arrived to tour the homes, flanked by bodyguards. <\/p>\n The real estate grab is part of a larger trend among the ultrarich to buy up housing for their employees. It helps them recruit top talent in pricey markets while keeping staff close enough to help, far enough to stay out of the way. \u201cInvesting in lodging can be a very smart decision,\u201d said Peter Mahler of Mahler Private Staffing.<\/p>\n<\/p><\/div>\n