Talk about a high tech, high dollar deal! Former Yahoo! CEO Terry Semel has sold his compound on Malibu’s Carbon Beach for $37M to none other than Oracle CEO Larry Ellison, who has been dubbed “The Nation’s Most Avid Trophy-Home Buyer.” This real estate transaction between Semel and Ellison is strictly a B2B deal. No, we don’t mean business-to-business. We’re talking about billionaire-to-billionaire here!
Malibu’s Carbon Beach has been dubbed “Billionaire’s Beach,” and Ellison already owns numerous properties along that strip of sand. Perhaps he only lives on streets named exclusively for billionaires, because his primary residence in San Francisco sits on “Billionaire’s Row” in Pacific Heights.
The seller, Terry Semel, was at the helm of Yahoo! from 2001-2007 and made quite the nice stash of cash from the gig. Since leaving Silicon Valley behind, Semel has resided in Los Angeles and has gobbled up some exceptional real estate in the area. Just last year, Semel and wife Jane listed and sold their swank Beverly Hills mansion.
The Malibu home that just transferred hands from Semel to Ellison sits on a three-quarter-acre lot includes three structures, creating a compound just steps from the sand. The main house is entered through a three-story skylit rotunda. Aside from the main home, there is also a two-story guesthouse for a total of nine bedrooms, 13 bathrooms and 10,317 square feet of living space that stretches along 151 feet of beach frontage.
We’re not surprised to hear Ellison was the buyer in this big deal. Since becoming one of the biggest earners in America while at the helm of Oracle, Ellison has spent hundreds of millions of dollars acquiring incredible properties across the globe. Ellison’s known property roster includes five adjacent lots in Malibu, a Newport, R.I., mansion formerly owned by the Astor family; a historic garden property in Kyoto and an estate in Rancho Mirage, Calif., with a private, 19-hole golf course. He’s currently adding a Lake Tahoe compound to that incredible line-up and is rumored to be on a buying spree in his native San Francisco.