Billionaire buys fourth Newport estate
NEWPORT, R.I. (AP) — Billionaire Larry Ellison has apparently purchased a fourth home in Newport, Rhode Island for $11 million, reuniting a 9-acre estate created in 1881.
The Newport Daily News reports that a deed for the Seacliff home was signed by its seller trustee on Jan. 31. The address of the buyer has been used by Ellison before.
The home has 10 rooms, including five bedrooms, and an assessed value of $6.81 million.
Ellison, a founder of California-based Oracle software, purchased three other nearby properties originally owned by the Astor family.
His central property is the Astors’ Beachwood mansion. He has spent more than $100 million to renovate it for a planned art museum.
It is unclear what he plans to do with Seacliff, which includes a guest house on the Cliff Walk.
Information from: The Newport Daily News.