Larry Ellison, a man who â€œviews prime real estate as scare commodity that canâ€™t easily be replicated,â€ is expanding his holdings in the Lake Tahoe area, a region well known for its pristine waters and world-class skiing.
Regarded as one of the countryâ€™s largest consumers of trophy real estate, Mr. Ellison is the third-richest American with a net worth of $33 billion according to Forbes. Since the mid-1990s, Mr. Ellison has amassed hundreds of millions of dollars worth of top-shelf properties around the world, including five adjacent lots in Malibu; a mansion formerly owned by the Astor family in Newport; a historic garden property in Kyoto, Japan; and a 249-acre estate in Rancho Mirage that includes a private 19-hole golf course.
Once Mr. Ellison finds an area he likes, he will typically purchase multiple properties that are adjacent to one another and then combine them into a single, sprawling compound. He also purchases other lots nearby to increase his total holdings in a specific area.
According to public records, Mr. Ellison began purchasing in the Lake Tahoe area in 2006 and since then has created three noncontiguous lakefront parcels in eight separate deals.