SAN FRANCISCO (Diya TV) — Oracle co-founder Larry Ellison has quietly sold his longtime San Francisco mansion for $45 million, marking the city’s biggest residential sale of 2025. The off-market deal comes at a time when California lawmakers and labor-backed activists are pushing a proposed wealth tax that could dramatically affect the state’s richest residents. The sale has drawn attention not just for its price, but for its timing. Ellison, one of the world’s wealthiest people, has steadily reduced his visible ties to California in recent years. The move has fueled speculation that billionaire tax concerns played a key role in the decision.
The nearly 11,000-square-foot estate sits at 2850 Broadway in the exclusive Pacific Heights neighborhood, often called Billionaire’s Row. The home sold in a private transaction last month, according to reports cited by the San Francisco Standard. The $45 million price tag makes it the largest home sale in San Francisco this year. The buyer is reported to be a Delaware-based limited liability company, a common structure for high-end real estate purchases.
Ellison had owned the property for decades. The home offers sweeping views of the Golden Gate Bridge and San Francisco Bay, features five bedrooms and six bathrooms, and occupies a prominent corner lot overlooking the waterfront. Architect William Wurster designed the residence in 1961. In the 1990s, Ellison hired Lundberg Design to remodel the home. The firm reimagined the property as a modern space inspired by Japanese Buddhist gardens.
According to Lundberg Design, the layout guides visitors through a series of outdoor experiences. Guests move from an entry courtyard to an interior garden before reaching expansive bay views. The design emphasizes calm, openness, and a gradual transition from private to panoramic spaces.
The result is a rare blend of modern architecture and tranquil landscaping in one of San Francisco’s most sought-after locations. While the mansion qualifies as a trophy property, the political climate may have weighed more heavily on Ellison’s decision. Progressive groups and labor unions are backing a proposed California wealth tax that would apply a 5% levy on the net worth of billionaires.
Critics warn the measure could push wealthy residents to leave the state. Several state officials have also expressed concern about enforcement challenges and potential economic fallout. Ellison’s net worth currently stands at about $192 billion, according to Forbes. A 5% tax could translate into a bill of roughly $9.6 billion if the proposal became law.
David Lesperance, a prominent adviser who specializes in billionaire tax planning, said the risks are significant. He suggested that holding a California residence could expose Ellison to future claims that he remains domiciled in the state. Given the sums involved, Lesperance said, even selling at a discount would make financial sense.
Ellison has already moved much of his life and business presence out of California. He relocated to Hawaii in recent years and has invested heavily in the island of Lanai. Still, he maintains other California properties.
Those include a 23-acre estate in Woodside, south of San Francisco, and a sizable real estate portfolio in Malibu. Whether those holdings remain long-term is an open question as the wealth tax debate continues. For billionaires like Ellison, whose net worth can swing by billions in a single day based on stock prices, a fixed wealth tax presents added uncertainty. Oracle shares often fluctuate sharply, making tax exposure difficult to predict.
