Oracle co-founder Larry Ellison is making a significant impact on Florida’s real estate market, investing heavily in the exclusive town of Manalapan. His substantial property acquisitions, including a record-breaking estate and a prominent resort, are drawing the attention of the ultra-wealthy and reshaping the affluent community located just a short drive from Mar-a-Lago.
Key Takeaways
- Larry Ellison has invested $450 million in Manalapan, Florida, acquiring a beachfront estate and the Eau Palm Beach Resort & Spa.
- His investments are attracting other high-net-worth individuals to the area, contributing to a real estate boom.
- Ellison’s previous success in developing luxury properties on the Hawaiian island of Lanai suggests a similar vision for Manalapan.
Ellison’s Manalapan Investments
Larry Ellison, the fifth wealthiest man globally, has injected $450 million into Manalapan, Florida, since 2022. His acquisitions include a $173 million, 16-acre estate boasting both beachfront and lakefront access, setting a new Florida record for property purchase. Additionally, in August 2024, he acquired the Eau Palm Beach Resort & Spa for $277 million. This 300-plus room hotel is situated on the grounds of the historic La Coquille Club, which once hosted notable families.
Transforming an Exclusive Town
Ellison’s vision for Manalapan extends beyond mere acquisition; he plans to transform the town into a premier destination for the mega-rich. His involvement is seen as a significant catalyst for the local real estate market. Manalapan’s mayor, John Deese, expressed enthusiasm for Ellison’s investments, noting that the town has long been recognized for high-value home sales and that these recent transactions further bolster its success.
A Magnet for the Ultra-Rich
The appeal of Manalapan is amplified by its proximity to Mar-a-Lago, President Trump’s estate. This strategic location, coupled with Ellison’s development plans for the Eau Palm Beach Resort & Spa, is expected to draw more high-net-worth individuals to the area. Ellison has already initiated renovations at the resort, including the addition of a Nobu restaurant, a brand favored by the tech mogul.
A Proven Track Record
Ellison’s foray into luxury real estate development is not new. In 2012, he purchased a majority stake in the Hawaiian island of Lanai and subsequently renovated its Four Seasons resorts, introducing ultra-luxe amenities and services. This experience suggests a strategic approach to enhancing the Manalapan properties and creating an exclusive, high-end experience for residents and visitors alike.
Key Takeaways
- 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.