Oracle billionaire Larry Ellison buys hotel for $71.6 million

By Madelinse Stone

Larry Ellison reportedly just made another huge real estate investment.

The former Oracle CEO, whose net worth has been estimated to be as much as $47.2 billion, just paid $71.6 million for the Epiphany Hotel in Palo Alto.

Property records uncovered by the Silicon Valley Business Journal indicate that Ellison made the purchase through a limited liability company associated with his personal investment arm, Lawrence Investments. The steep purchase price could even be a record for Santa Clara County.

Located in what was once an apartment tower known as Casa Olga, the Epiphany was opened by Joie de Vivre Hotels in 2014.

The 86-room hotel was designed with the area's tech pedigree in mind. A light display in the lobby, for example, moves along with any data set you enter, and there's a gallery of binary code art on another wall.

This isn't Ellison's first foray into the luxury market - in 2012, he paid a reported $500 million to own most of the Hawaiian island of Lanai. He owns two Four Seasons hotels in addition to a smaller, more traditional lodge on the island.