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Oracle’s Larry Ellison pays highest price ever for a Florida home

Larry Ellison
Oracle CEO Larry Ellison gestures while giving a keynote address at Oracle OpenWorld in San Francisco, Tuesday, Oct. 2, 2012. Ellison says he plans to turn the Hawaiian island that he recently bought into a laboratory for experimenting with more environmentally sound ways of living. Ellison says he hopes to convert sea water into fresh water on the 141-mile-square (365-square-kilometer) mile island of Lanai. He also wants more electric cars on the island and hopes to increase its fruit exports to Japan and other markets. (AP Photo/Eric Risberg)

The world’s 8th richest man, Oracle co-founder Larry Ellison, just dropped $173-million on a Florida compound located south of Palm Beach.

That’s the most money ever paid to purchase a home in Florida.

Ellison, who is worth $94 billion, paid nearly twice as much for the Palm Beach mega-estate than last year’s $94 million selling price.

The property includes a 30-bedroom, 62,000 square foot mansion with 1200 feet of beach along the Atlantic ocean.

Ellison also now owns part of a barrier island.