April 24, 2024

Springswines

The Tour And Travel Enthusiasts

Tech billionaire Ellison buys Tahoe resort

3 min read
Tech billionaire Ellison buys Tahoe resort

Tech billionaire Larry Ellison has recently made headlines with his purchase of the historic Tahoe resort, Cal Neva. The resort, located on the California-Nevada border, has a rich history dating back to the 1920s and has been visited by numerous celebrities and politicians over the years. Ellison’s acquisition of the property has generated a lot of interest and speculation about his plans for the iconic resort.

The Hyatt Regency Lake Tahoe Resort, Spa and Casino.

The Hyatt Regency Lake Tahoe Resort, Spa and Casino.

The Purchase of Cal Neva Larry Ellison, the co-founder of Oracle Corporation, has reportedly purchased Cal Neva Resort & Casino, located on the shores of Lake Tahoe. The purchase price has not been disclosed, but industry insiders estimate that the deal is worth around $35 million. The resort, which spans 10 acres and features a hotel, casino, and spa, has been closed for renovations since 2013. Ellison’s purchase of the property has been seen as a sign of his continued interest in real estate investment.

A Historic Property with a Storied Past

Cal Neva has a rich history that dates back to the 1920s when it was first opened as a small lodge on the shores of Lake Tahoe. Over the years, the resort grew in size and popularity, attracting a diverse range of guests, including Hollywood celebrities, politicians, and business tycoons. Frank Sinatra was a frequent visitor to the resort in the 1960s, and it was rumored that he owned a share in the property at one point. The resort was also the site of several high-profile events, including Marilyn Monroe’s last public appearance before her death in 1962.

Plans for the Future

Since the resort closed in 2013, there has been a lot of speculation about its future. Many locals have expressed concern about the property falling into disrepair, and there have been several failed attempts to revive the resort over the years. Ellison’s purchase of the property has generated a lot of interest and speculation about his plans for the historic resort. Some have speculated that he may turn it into a private retreat, while others believe he may reopen it as a luxury resort.

Ellison has a reputation for investing in unique properties, and his purchase of Cal Neva is no exception. While his plans for the resort remain unknown, locals and tourists alike are eagerly anticipating its reopening. With its stunning location on the shores of Lake Tahoe and its rich history, Cal Neva has the potential to become one of the most sought-after destinations in the area.

Tech Billionaire Ellison Buys Historic Tahoe Resort, Cal Neva

The co-founder of Oracle Corporation, Larry Ellison, has made a significant real estate investment with his purchase of Cal Neva Resort & Casino. The resort, located on the shores of Lake Tahoe, has a rich history dating back to the 1920s and has been visited by numerous high-profile guests over the years. Ellison’s purchase of the property has generated a lot of interest and speculation about his plans for the resort’s future.

A Rich History

Cal Neva has a storied past that includes visits from Hollywood celebrities, politicians, and business tycoons. Frank Sinatra was a frequent visitor to the resort in the 1960s, and Marilyn Monroe made her last public appearance at the property in 1962. The resort has been closed for renovations since 2013, and locals have expressed concern about its future.

Unknown Plans for the Future

Ellison’s plans for the resort remain unknown, but his reputation for investing in unique properties has generated excitement among locals and tourists. Some have speculated that he may turn the resort into a private retreat, while others believe he may reopen it as a luxury resort. With its stunning location on the shores of Lake Tahoe and its rich history, Cal Neva has the potential to become one of the most sought-after destinations in the area.