Oracle cofounder Larry Ellison is making a significant splash in Florida’s real estate market, investing $450 million into the exclusive town of Manalapan. His ambitious plans include transforming the Eau Palm Beach Resort & Spa into a luxury haven, aiming to attract the ultra-wealthy to an area just a short drive from President Trump’s Mar-a-Lago estate.
Key Takeaways
- Larry Ellison has invested $450 million in Florida real estate, focusing on Manalapan.
- He purchased the Eau Palm Beach Resort & Spa for $277 million.
- The town is located 20 minutes from Mar-a-Lago, attracting other wealthy individuals.
- Ellison has a history of developing luxury properties, notably on the island of Lanai.
A New Haven for the Mega-Rich
Ellison, the fifth wealthiest man globally, has been acquiring property in Manalapan, a town of approximately 400 residents, since 2022. His substantial investment includes a record-breaking $173 million purchase of a 16-acre estate with both beachfront and lakefront access. The most significant acquisition, however, is the $277 million purchase of the Eau Palm Beach Resort & Spa in August 2024. This move signals a clear intention to cultivate an exclusive community for the world’s wealthiest individuals.
Historical Roots and Modern Luxury
The Eau Palm Beach Resort & Spa is situated on the grounds of the former La Coquille Club, a historic spot that once hosted notable figures like the Duke and Duchess of Windsor. While the original club was demolished in the 1980s, its name lives on as part of the hotel. Manalapan’s mayor, John Deese, expressed enthusiasm for Ellison’s investments, noting that the town has consistently ranked high in property sales and that Ellison’s ventures will further enhance its real estate market.
Proximity to Mar-a-Lago and Ellison’s Track Record
The appeal of Manalapan is amplified by its close proximity to Mar-a-Lago, President Trump’s well-known residence. This location has contributed to a surge in interest and property values in the surrounding areas. Ellison’s venture into Florida real estate mirrors his previous success in developing the Hawaiian island of Lanai. There, he invested an estimated $300 million to upgrade the island’s Four Seasons resort hotels, introducing ultra-luxury amenities such as a $21,000-per-night suite and in-room iPad services. At the Eau Palm Beach Resort & Spa, Ellison has already introduced a pop-up Nobu restaurant and plans further renovations, aiming to replicate the high standards he is known for.