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Broward County Florida

Larry Ellison Invests $450 Million in Florida Town Near Mar-a-Lago

Florida town near Mar-a-Lago with mansions and ocean.

Oracle co-founder Larry Ellison has significantly expanded his real estate portfolio in South Florida, investing a staggering $450 million into the exclusive town of Manalapan. This strategic move positions the tech magnate as a key developer aiming to transform the small coastal community into a luxurious enclave for the ultra-wealthy, just a short distance from former President Donald Trump’s Mar-a-Lago estate.

Key Takeaways

  • Oracle’s Larry Ellison has invested $450 million in Manalapan, Florida.
  • The investments include a record-breaking $173 million estate and the $277 million Eau Palm Beach Resort & Spa.
  • The town’s proximity to Mar-a-Lago is seen as a significant draw for the affluent.
  • Ellison has a history of developing luxury properties, notably on the Hawaiian island of Lanai.

A Haven for the Mega-Rich

Ellison, the world’s fifth-wealthiest man, began acquiring properties in Manalapan, a town with approximately 400 residents, in 2022. His substantial investment includes a 16-acre estate purchased for $173 million, setting a Florida record for a property with both beachfront and lakefront access. In August 2024, he further solidified his presence by acquiring the Eau Palm Beach Resort & Spa for $277 million. This 300-plus room hotel, formerly the site of the historic La Coquille Club, is slated for renovations.

Strategic Location and Development Plans

The town of Manalapan’s appeal is amplified by its close proximity to Mar-a-Lago, often referred to as the "Winter White House." This location, coupled with Ellison’s reputation for developing high-end properties, is expected to attract affluent buyers and residents. Local officials, like Manalapan Mayor John Deese, have welcomed Ellison’s investments, noting that they contribute to the town’s already strong real estate market.

Ellison’s vision for the Eau Palm Beach Resort & Spa includes luxury enhancements, mirroring his successful redevelopment of the Four Seasons resorts on the Hawaiian island of Lanai. A notable addition already implemented is a Nobu restaurant, a favorite of Ellison’s, which has transitioned from a pop-up to a permanent fixture.

Florida’s Appeal to the Wealthy

Ellison’s significant investment aligns with a broader trend of the ultra-rich increasing their presence in Florida. Other prominent figures, such as Amazon founder Jeff Bezos and Citadel CEO Ken Griffin, have also made substantial real estate acquisitions in the state, particularly in exclusive areas like Indian Creek and Palm Beach. The combination of favorable tax policies and desirable locations continues to make Florida a prime destination for high-net-worth individuals.

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