Larry Ellison Invests $450 Million in Florida Real Estate, Aims to Attract the Ultra-Wealthy

Oracle co-founder Larry Ellison has made a significant splash in South Florida’s real estate market, investing a staggering $450 million into properties in the exclusive town of Manalapan. This substantial investment is poised to transform the small, affluent community into a premier destination for the world’s wealthiest individuals, leveraging its proximity to high-profile locations like Mar-a-Lago.

Key Takeaways

Oracle’s Larry Ellison has invested $450 million in Florida real estate.
The investments are concentrated in the exclusive town of Manalapan.
Ellison’s acquisitions include a record-breaking estate and the Eau Palm Beach Resort & Spa.
The move aims to position Manalapan as a haven for the ultra-rich.
The area benefits from its proximity to Mar-a-Lago.

A Major Real Estate Play

Ellison, the world’s fifth-wealthiest man, began acquiring properties in Manalapan, a town with only 400 residents, in 2022. His investments total $450 million across two key acquisitions. In 2022, he purchased a 16-acre estate for $173 million, setting a Florida record for a property that boasts both beachfront and lakefront access. In August 2024, Ellison acquired the Eau Palm Beach Resort & Spa for $277 million, the town’s largest structure, which features over 300 rooms.

The Eau Palm Beach Resort & Spa is situated on the historic grounds of the original La Coquille Club, which once hosted notable figures like the Duke and Duchess of Windsor. While the original club was demolished in the 1980s, its name and legacy live on as part of the current hotel. Manalapan property owners have the advantage of becoming members of the beach club without incurring initiation fees or annual dues.

Attracting the Mega-Rich

Ellison’s strategic investments are designed to enhance Manalapan’s appeal to high-net-worth individuals. The acquisition of the Eau Palm Beach Resort & Spa is expected to serve as a major draw for potential buyers. Local developers, such as Stewart Satter, who is developing a $285 million mansion nearby, believe Ellison’s plans for the hotel could significantly elevate the area’s profile.

This move aligns with a broader trend of the ultra-rich increasing their presence in Florida. Notable figures like Amazon founder Jeff Bezos and Citadel CEO Ken Griffin have also made substantial real estate investments in the state, particularly in exclusive enclaves like Indian Creek and Palm Beach.

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Manalapan’s Mayor, John Deese, expressed his welcome to Ellison’s investments, noting that the town has long been recognized for its high real estate values. He stated that these recent high-profile purchases contribute to the overall success of the South Florida real estate market.

Ellison’s Track Record in Luxury Development

Ellison has a proven history of developing luxury properties. In 2012, he purchased the majority of the Hawaiian island of Lanai for an estimated $300 million. Through his company, Pulama Lanai, he has since renovated the island’s two Four Seasons resorts, introducing high-end amenities such as an ultra-luxe suite costing $21,000 per night and in-room iPads for service requests.

At the Eau Palm Beach Resort & Spa, Ellison has already initiated renovations, including the introduction of a Nobu restaurant, which has become a permanent fixture. This culinary addition is particularly noteworthy, as Nobu is a known favorite of Ellison’s, who was recently seen dining there with Elon Musk and Jensen Huang.

Strategic Location

Another significant factor contributing to Manalapan’s allure is its close proximity to Mar-a-Lago, former President Donald Trump’s residence. Palm Beach County Commissioner Maria Sachs highlighted that the area’s prominence has been amplified by Mar-a-Lago’s presence, making it a desirable location for those seeking to be near such high-profile landmarks.

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