Larry Ellison Bets Big on Florida: $450 Million Investment Aims to Lure the Ultra-Rich to Manalapan

Tech magnate Larry Ellison is making a significant splash in South Florida’s real estate market, investing a staggering $450 million to transform the exclusive town of Manalapan into a premier destination for the ultra-wealthy. This strategic move positions Manalapan, located just 20 minutes from Mar-a-Lago, as a new hub for luxury living.

Key Takeaways

Oracle co-founder Larry Ellison has invested $450 million in two key properties in Manalapan, Florida.
The investment includes a record-breaking $173 million estate and the $277 million Eau Palm Beach Resort & Spa.
Ellison’s vision aims to attract high-net-worth individuals, leveraging Manalapan’s exclusivity and proximity to Mar-a-Lago.
The move mirrors Ellison’s previous success in developing luxury properties on the Hawaiian island of Lanai.

A Strategic Real Estate Play

Larry Ellison, the co-founder and chief technology officer of Oracle, has shifted his focus from tech innovation to real estate development in South Florida. Since 2022, Ellison has acquired properties in the small, 400-resident town of Manalapan, injecting $450 million into two significant landmarks. His acquisitions include a 16-acre estate that set a Florida record with its $173 million price tag, boasting both beachfront and lakefront access. Additionally, in August 2024, he purchased the Eau Palm Beach Resort & Spa for $277 million, a property with a rich history dating back to the original La Coquille Club, which once hosted notable figures like the Duke and Duchess of Windsor.

Transforming Manalapan into a Luxury Haven

Ellison’s substantial investment in the Eau Palm Beach Resort & Spa is intended to serve as a major draw for potential high-net-worth buyers. Local developers see Ellison’s plans for the hotel as a potential focal point for the area, noting his established reputation for operating high-end resorts. Ellison has already initiated renovations, including the addition of a Nobu restaurant, a brand favored by the tech mogul. This mirrors his previous development efforts on the Hawaiian island of Lanai, where he invested heavily in upgrading luxury resorts and amenities.

Florida’s Appeal to the Ultra-Rich

Manalapan’s appeal is further amplified by its strategic location, just a short drive from President Trump’s Mar-a-Lago estate. This proximity to a high-profile landmark is seen as a significant draw, contributing to the area’s current prominence. The town’s mayor, John Deese, expressed enthusiasm for Ellison’s investments, noting that Manalapan has long been recognized for its high real estate values and that these recent acquisitions further bolster the South Florida market. Ellison’s venture aligns with a broader trend of the ultra-rich increasingly investing in Florida properties, with figures like Jeff Bezos and Ken Griffin also making substantial real estate purchases in the state.

Sources

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