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Why does this billionaire want to demolish his new $80m mansion?

Lovemoney Logo By Jen Grimble of Lovemoney | Slide 1 of 16: When you're a billionaire, purchasing extravagant homes likely comes as second nature, but imagine spending $80 million (£58m) on a beachfront mansion, only to demolish it just a few months later. Well, that's exactly what Oracle co-founder Larry Ellison is doing. The self-made business magnate, who is said to be worth $102 billion (£74b), clearly has bigger plans for his brand new seven-acre estate...

Luxury Florida home headed for the wrecking ball

When you're a billionaire, purchasing extravagant homes likely comes as second nature, but imagine spending $80 million (£58m) on a beachfront mansion, only to demolish it just a few months later. Well, that's exactly what Oracle co-founder Larry Ellison is doing. The self-made business magnate, who is said to be worth $102 billion (£74b), clearly has bigger plans for his brand new seven-acre estate...
© Charlie Steffens / Zuma Press / PA Images ; Douglas Elliman

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