By Juliet Chung

Even in that rareified stratum of high-end real estate, Wealth Reporter Robert Frank pointed out last winter (http://blogs.wsj.com/wealth/2010/02/11/who-will-buy-this-75-million-house/), Porcupine Creek stands out. The Rancho Mirage estate has a 18,430-square-foot, Mediterranean style mansion with hand-painted ceiling murals, a prayer room and a children’s wing. There’s a private, 19-holf golf course of 248 acres, eight guest houses, and resort-style amenities like a pool, spa, gym and amphitheater.

Robert Frank
Much of the furniture at Porcupine Creek, such as this dining room set, was imported from Europe.

Larry Ellison has added a new toy to his chest, and it’s a whopper: Porcupine Creek, the 249-acre estate near Palm Springs, Calif., that was listed for $75 million last February.

According to the Desert Sun, the Oracle Corp. CEO paid $42.9 million for the property, which used to be owned by Yellowstone Club founders Tim and Edra Blixseth. The Christie’s International Real Estate listing hit the market following the (now-divorced) couple’s very public financial and marital battles and was last asking $55 million.

Even in that rarefied stratum of high-end real estate, as my colleauge Robert Frank pointed out last winter, Porcupine Creek stands out. The Rancho Mirage estate has a 18,430-square-foot, Mediterranean-style mansion with hand-painted ceiling murals, a prayer room and a children’s wing. There’s a private, 19-holf golf course, eight guest houses, and resort-style amenities like a pool, spa, gym and amphitheater.

An Oracle spokeswoman declined to comment.

As the best-paid exec of a public company in the last decade, taking home about $1.84 billion in compensation according to a recent Wall Street Journal analysis, Mr. Ellison can afford to continue shopping. Readers, any thoughts as to what else he should be eyeing?