Tech billionaire Larry Ellison plans to relist his oceanfront North Palm Beach, Fla., estate for $165 million, according to listing agents James Kenny and Paul Kaneb of K2 Realty. That's about 14% more than his original asking price in 2022.

Ellison bought the 8.4-acre property, which is located within the tony Seminole Landing gated community, for $80 million in 2021. He relisted it for $145 million a year later.

The move comes as Ellison has been expanding his estate in Manalapan, an affluent town just south of Palm Beach. In June, the Oracle co-founder paid about $35 million for a parcel of land next to his roughly 15-acre compound. He paid $173 million in 2022 for that original compound, which is about 30 miles from the North Palm Beach property.

Ellison didn't respond to a request for comment.

In recent months, Ellison has been serving as a major financial backer for Paramount in its massive $81 billion acquisition of Warner Bros. Discovery. He is also known for his property portfolio, which includes homes in Malibu, Calif., Lake Tahoe and on the Hawaiian island of Lanai.

In 2023, he spent almost $10 million buying eight homes in a lakefront community in Boynton Beach, Fla., for his staff; they're about 30 minutes from the Manalapan compound.

Seminole Landing is located next to the Seminole Golf Club. In 2020, Robert F. Smith, a billionaire private-equity executive, bought a pair of houses there from energy drinks entrepreneur Russ Weiner for $48.19 million.

Deals of $100 million-plus have become almost routine in neighboring Palm Beach. However, Kenny and Kaneb said they have seen a $50 million-plus market beginning to establish itself in North Palm Beach, too. A property there sold for $55 million last year.