Larry Ellison’s $450 Million Florida Real Estate Push Attracts the Ultra-Rich

Oracle co-founder Larry Ellison is making a significant splash in South Florida’s luxury real estate market, investing $450 million in the exclusive town of Manalapan. His substantial property acquisitions, including a record-breaking estate and a prominent resort, are transforming the area into a magnet for the world’s wealthiest individuals, further solidifying Florida’s status as a prime destination for the ultra-rich.

Key Takeaways

Larry Ellison has invested $450 million in Manalapan, Florida, since 2022.
His purchases include a $173 million estate and the $277 million Eau Palm Beach Resort & Spa.
The investments are attracting other high-net-worth individuals to the area.
Proximity to Mar-a-Lago is cited as an additional draw for the region.

A Haven for the Mega-Rich

Larry Ellison, renowned for his technological prowess with Oracle, is now demonstrating considerable influence in the real estate sector. He began acquiring properties in Manalapan, a small town with approximately 400 residents, in 2022. His investments have since reached a staggering $450 million, focusing on two significant landmarks. Notably, Ellison set a Florida record with the purchase of a 16-acre estate for $173 million, boasting both beachfront and lakefront access. In August 2024, he further expanded his portfolio by acquiring the Eau Palm Beach Resort & Spa for $277 million, a property that includes over 300 rooms and sits on the historic grounds of the original La Coquille Club.

Transforming Manalapan

The acquisition of the Eau Palm Beach Resort & Spa is poised to become a major attraction for potential high-net-worth buyers. Local developer Stewart Satter, whose $285 million mansion is adjacent to Ellison’s property, believes Ellison’s plans for the hotel could make it a focal point of the area. Ellison, who also owns a majority stake in the Hawaiian island of Lanai and has overseen luxury renovations at its Four Seasons resorts, has pledged similar upgrades for the Eau Palm Beach. Initial changes include the introduction of a Nobu restaurant, a known favorite of Ellison’s.

Florida’s Allure for the Wealthy

Ellison’s substantial investment aligns with a broader trend of the ultra-rich gravitating towards Florida. Other prominent figures like Amazon founder Jeff Bezos and Citadel CEO Ken Griffin have also made significant real estate investments in the state. Manalapan’s Mayor John Deese expressed his welcome to Ellison’s investments, noting that the town has long been recognized for high-value home sales. The proximity to Mar-a-Lago, President Trump’s Florida residence, is also identified as a significant factor contributing to the area’s current appeal.

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