The ultrawealthy are buying nearby homes to keep staff close—and Larry Ellison and Mark Zuckerberg are two examples
Ellison spent nearly $10 million on homes for his staff near his Florida estate, while Zuckerberg has spent more than $110 million buying up his Palo Alto block.
Some of the world's richest individuals are purchasing nearby homes not for their own residence, but to accommodate their household staff. Larry Ellison, the co-founder of Oracle with a net worth of $195 billion, is one example. In 2023, Ellison spent nearly $10 million on homes in a gated community in Boynton Beach, Florida, to house staff members from his family.
The community is roughly 30 minutes from his oceanfront estate in Manalapan, Florida, where he purchased a $173 million property the previous year. The ultrawealthy are increasingly buying properties for their employees while expanding their own property holdings, according to the Wall Street Journal. Mark Zuckerberg, Meta's CEO with a net worth of $261 billion, is also assembling a family compound in Palo Alto, California.
He has spent over $110 million to acquire at least 11 houses in the Crescent Park neighborhood since buying a 5,600-square-foot home there in 2011. Some neighbors find Zuckerberg's compound arrangement disruptive, but the Meta CEO's spokesperson maintains that he values community involvement and has taken steps to minimize disturbances.
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