Billionaire Oracle co-founder Larry Ellison is doubling down on South Florida, pouring around $450 million into Palm Beach real estate and aiming to turn the exclusive oceanfront enclave of Manalapan into the next playground for the world’s ultra-wealthy.
Key Takeaways
- Larry Ellison has invested approximately $450 million in Manalapan since 2022.
- Notable acquisitions include a record-breaking $173 million waterfront estate and the $277 million Eau Palm Beach Resort & Spa.
- Neighboring Palm Beach County is already a magnet for high-net-worth buyers, including Jeff Bezos and Ken Griffin.
- Ellison intends to renovate his hotel property and has begun introducing luxury offerings, such as a pop-up Nobu restaurant.
- The region’s appeal is amplified by proximity to Mar-a-Lago and the growing prestige of exclusive club memberships.
Billionaire Migration Transforms Quiet Coastal Town
Manalapan, once a serene town of just 400 residents, is firmly in the spotlight thanks to massive investments from Ellison and other investors. Since 2022, Ellison’s real estate moves have included purchasing a sprawling 16-acre estate featuring both beachfront and lakefront properties.
His latest headline-making acquisition, the Eau Palm Beach Resort & Spa, sits on historic land once home to the famed La Coquille Club—a former haunt of royalty and industrialists. This single deal, valued at $277 million, makes the resort one of the priciest hospitality deals in Florida history.
Ultra-Luxury Aspirations for the Area
Ellison, known for transforming the Hawaiian island of Lanai into a luxury destination, has signaled plans to upgrade the Eau Palm Beach Resort. Among the first changes: a pop-up Nobu restaurant, a favorite of tech elites. Such amenities are designed to lure affluent buyers and visitors, further boosting Manalapan’s appeal.
Local developers and officials welcome Ellison’s investments, viewing them as catalysts for growth. The area has already seen neighboring homes fetch prices in the tens of millions, and new projects, like a nearby $285 million mansion, aim to attract global titans of industry and finance.
Palm Beach: Magnet for the Mega-Rich
Ellison joins a wave of high-profile buyers—including Amazon’s Jeff Bezos and Citadel’s Ken Griffin—who have made significant purchases in the Palm Beach region. Their investments are reshaping the market, setting new records, and drawing attention to the area’s potential as a global luxury capital.
The synergy between private club memberships, exclusive amenities, and close proximity to iconic destinations like Donald Trump’s Mar-a-Lago ensure that Manalapan remains more than a quiet beachside town; it is becoming a hub for those seeking unparalleled privacy, luxury, and prestige.
What’s Next for Manalapan?
With Ellison’s track record of resort transformations and a growing roster of elite residents, experts anticipate more developments aimed at the world’s wealthiest. As renovations and luxury investments continue, Manalapan is well on its way to establishing itself as the next great billionaire enclave on America’s Atlantic coast.