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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.
A large painting of a tree adorns the outside of the Epiphany in Palo Alto.
Inside, you’ll find a display of Edison light bulbs hanging from the ceiling.
Project Edison, which was designed by a group of engineers from the IDEO Digital Shop, features a set of 100 light bulbs that can light up or move up and down according to any data stream you choose.
The light display hangs near a staircase in the lobby.
The lobby has lots of low-slung furniture, which adds to the swanky ambiance.
Also located on the first floor, Lure + Till is a New American restaurant offering locally sourced dishes like an organic farm chicken and a roasted Sonoma duck breast.
The Epiphany Hotel | Currently on the #coastalcaravan road trip with @jdvhotels + @lyft Right now: Enjoying lunch at Lure + Till at The Epiphany Hotel in Palo Alto. #epiphanyhotel #myepiphany #lureandtill Another chance to WIN BIG! Prize: $100 dining credit for Lure + Till Restaurant. Rules: 1. Follow @jdvhotels 2. Tag a friend and comment “Let’s eat” Two winners will be announced this evening! Would you like to join in on the #coastalcaravan with myself, @jdvhotels and @lyft? Well, you can! Instameet: Friday August 8 – 2:00 pm Crissy Field Meet at the Warming Hut and look for the balloons! #coastalcaravan #jdvhotels @jdvhotels @lyft #lyft