UPDATE: Larry Ellison released a statement Thursday denying that he is purchasing the house next door.
Oracle CEO Larry Ellison was set to take his downhill neighbors to court next week over a view of San Francisco Bay and redwood trees, but the showdown reportedly was averted after the billionaire bought a house next door for $40 million.
The San Francisco real estate blog Curbed SF reported that Ellison purchased the adjacent property.
Ellison has settled his suit against the neighbors, who had accused him of hiring workers to chop the tops off the trees. Ellison, speaking through his attorney, told the Wall Street Journal last week that he was only trying to have branches trimmed because they were encroaching on his property.
Flying accusations aside, one thing cannot be argued: 2840 Broadway — the house immediately next door to Ellison’s — has lower trees in front of it. A view of San Francisco Bay from the Ellison house could be an asset for the upcoming America’s Cup, which he is bringing to San Francisco in 2013, following the victory of his BMW Oracle Racing last year in Spain.
The WSJ story said Ellison offered twice in 2007 to buy the home of the tree neighbors for at least $15 million, but they declined. The neighbors also attempted to make one of the trees a historic landmark, possibly to prevent future pruning.