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Why did a billionaire buy this $80m mansion just to demolish it?

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 $110.1 billion (£80bn), clearly has bigger plans for his brand new seven-acre estate. Click or scroll for more...

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 $110.1 billion (£80bn), clearly has bigger plans for his brand new seven-acre estate. Click or scroll for more...

© Charlie Steffens / Zuma Press / PA Images ; Douglas Elliman

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