Oracle co-founder Larry Ellison is making a significant splash in Florida’s luxury real estate market, investing $450 million to transform the exclusive town of Manalapan into a haven for the ultra-wealthy. This strategic move positions the area, located just 20 minutes from President Trump’s Mar-a-Lago estate, as a prime destination for high-net-worth individuals.
Key Takeaways
- Larry Ellison has invested $450 million in two landmark properties in Manalapan, Florida.
- The investment includes a record-breaking $173 million estate and the $277 million Eau Palm Beach Resort & Spa.
- Ellison’s move aims to attract the ultra-rich, leveraging the area’s proximity to Mar-a-Lago.
- This development aligns with a broader trend of wealthy individuals investing in Florida real estate.
A Lavish Investment in Manalapan
Ellison, the world’s fifth-wealthiest man, began acquiring properties in the small, 400-resident town of Manalapan in 2022. His substantial investment includes a 16-acre estate purchased for $173 million, setting a Florida record for its beachfront and lakefront access. In August 2024, he further solidified his presence by acquiring the Eau Palm Beach Resort & Spa for $277 million. This expansive property, once the site of the historic La Coquille Club, is slated for renovations.
Transforming a Luxury Enclave
The acquisition of the Eau Palm Beach Resort & Spa is expected to serve as a major draw for potential high-net-worth buyers. Local developers believe Ellison’s plans for the hotel could make it a central attraction in the area. Ellison’s track record with luxury properties, including his extensive development of the Hawaiian island of Lanai, suggests a commitment to creating exclusive and high-end experiences. Renovations at the resort have already begun, with the introduction of a Nobu restaurant, a known favorite of Ellison’s.
Proximity to Mar-a-Lago and Florida’s Appeal
Manalapan’s appeal is significantly enhanced by its close proximity to Mar-a-Lago, President Trump’s renowned "Winter White House." This location offers residents and visitors easy access to a high-profile area, contributing to the region’s desirability. Ellison’s investment is part of a larger trend, with other prominent figures like Jeff Bezos and Ken Griffin also making substantial real estate acquisitions in Florida, underscoring the state’s continued allure for the wealthiest individuals.
Sources
- A $450M investment by Oracle’s Larry Ellison is luring the rich to a town 20 minutes from Mar-a-Lago |
Fortune, Fortune. - After pouring $450 million into Florida real estate, Oracle’s Larry Ellison plans to lure the ultra-rich to
an exclusive town 20 minutes from Trump’s Mar-a-Lago, Fortune.