Billionaire Phillip Ragon buys oceanfront home in Golden Beach for $20M

Billionaire Phillip T. Ragon paid $20 million for the oceanfront Golden Beach home that once belonged to Sammy Sosa.

Ragon and his wife, Susan, bought the house at 667 Ocean Boulevard from Scott Scharg, as trustee of a trust in his name, records show.

Phillip “Terry” Ragon is the founder and CEO of InterSystems, a software systems and technology company based in Cambridge, Massachusetts. He founded the company in 1978. Ragon is also a trustee of the Mass General Brigham health system and a trustee of Massachusetts General Hospital, according to InterSystems’ website. Susan Ragon is vice president of finance, administration and recruitment at InterSystems.

According to Forbes, Phillip Ragon has a net worth of $2.2 billion.

The seller, Scharg, is the co-founder of haircare company It’s a 10 HairCare. He bought the home in 2018 for $10.6 million. He then listed the house in November for $20 million.

Retired baseball player Sammy Sosa owned the house from 2013 to 2016. He sold it for $9.2 million in 2016.

The 7,836-square-foot, eight-bedroom, seven-and-a-half-bathroom home has a spiral staircase and a pool, according to the listing. Property records show the oceanfront lot is over half an acre. The house was built in 1998.

Jared Ringel and Lisa Valko of Compass represented the seller, while Eloy Carmenate of The Corcoran Group represented the buyer.

Golden Beach has had several pricey sales this year. This month, a managing member of a real estate firm sold a waterfront home for $14.1 million, and Tommy Hilfiger went under contract to sell his oceanfront home to Grant Cardone for $28 million. Last month, a Mexican businessman paid $17.5 million for an oceanfront home.