Tech titan Larry Ellison, co-founder and CTO of Oracle, is making a significant mark on Florida’s real estate landscape, particularly in the exclusive town of Manalapan. Since 2022, Ellison has invested a staggering $450 million into the South Florida community, transforming it into a potential haven for the ultra-wealthy. His ambitious plans include revamping a landmark hotel and attracting high-net-worth individuals to the area, which is strategically located near Mar-a-Lago.
Ellison’s Florida Real Estate Deep Dive
Ellison’s substantial investment in Manalapan began in 2022. His acquisitions include a record-breaking $173 million estate spanning 16 acres with both beachfront and lakefront access. In August 2024, he further solidified his presence by purchasing 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 and already features a pop-up Nobu restaurant, a known favorite of Ellison’s.
Manalapan: A New Hub for the Mega-Rich
Manalapan, a town of approximately 400 residents situated just south of Palm Beach, is experiencing a real estate boom, partly driven by Ellison’s considerable investments. The town’s mayor, John Deese, expressed enthusiasm for these developments, noting that Manalapan has long been recognized for its high property values. Ellison’s ventures are seen as enhancing the town’s appeal to affluent buyers.
- Ellison has invested $450 million in Manalapan since 2022.
- He purchased a record-breaking $173 million estate.
- He acquired the Eau Palm Beach Resort & Spa for $277 million.
- The town is located 20 minutes from Mar-a-Lago.
Parallels with Lanai Development
Ellison’s approach in Manalapan echoes his previous development efforts on the Hawaiian island of Lanai, which he purchased a majority stake in back in 2012. Through his company Pulama Lanai, he revitalized the island’s Four Seasons resort hotels, introducing ultra-luxe amenities and services. This track record suggests a strategic vision for enhancing the Manalapan properties and attracting a discerning clientele.
Strategic Location and Market Trends
The allure of Manalapan is amplified by its proximity to Mar-a-Lago, President Trump’s "Winter White House." This strategic location, coupled with a broader trend of the ultra-rich gravitating towards Florida properties, positions Manalapan for continued growth. Other prominent figures like Jeff Bezos and Ken Griffin have also made significant real estate investments in Florida, underscoring the state’s appeal to high-net-worth individuals.
Sources
- 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. - Larry Ellison Is Leading Florida’s Manalapan Real Estate Boom, Bloomberg.