Ellison's $3 Million Tax Rebate (3 of 7)
In 2008 the San Francisco Chronicle reported that Ellison got a $3 mllion tax break because his Japanese-style home in Woodside, California was deemed "functionally obsolete." Ellison's Octopus Holdings LP bought the 23-acre site in May 1995 for $12 million and then sent to work on a nine year project constructing his version of Xanadu, a lavish 8,000-square-foot home based on a Japanese emperor's 16th century estate. An attorney successfully argued that Ellison overpaid his taxes for several years. 24/12/09
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