Oracle cofounder Larry Ellison is making a significant splash in South Florida’s luxury real estate market, investing $450 million to transform the exclusive island town of Manalapan into a premier destination for the ultra-rich. His substantial acquisitions, including a record-breaking estate and a major resort, signal a strategic move to attract high-net-worth individuals to the area, which benefits from its proximity to Mar-a-Lago.
Key Takeaways
- Larry Ellison has invested $450 million in Manalapan, Florida.
- His purchases include a $173 million estate and the $277 million Eau Palm Beach Resort & Spa.
- The investments aim to establish Manalapan as a haven for the mega-rich.
- The town’s location, just 20 minutes from Mar-a-Lago, is a significant draw.
A Strategic Real Estate Play
Ellison, the fifth-wealthiest man globally, began acquiring properties in Manalapan, a town of approximately 400 residents, in 2022. His investments total $450 million, according to Bloomberg. This includes a $173 million estate that set a Florida record, boasting 16 acres of both beachfront and lakefront property. In August 2024, he further solidified his presence by purchasing the Eau Palm Beach Resort & Spa for $277 million. This resort, formerly the site of the historic La Coquille Club, has a legacy of hosting prominent families.
Luring the Mega-Rich
The acquisition of the Eau Palm Beach Resort & Spa is poised to become a major attraction for potential high-net-worth buyers. Local developer Stewart Satter noted Ellison’s reputation for operating "beautiful resorts" and believes the hotel could become a "focal point of the area." Ellison has a proven track record in luxury hospitality, having previously invested heavily in the Hawaiian island of Lanai, where he remodeled its Four Seasons resorts with ultraluxe amenities.
At the Eau Palm Beach Resort & Spa, Ellison has already initiated renovations, including the introduction of a permanent Nobu restaurant, a brand favored by Ellison, who was recently seen dining there with Elon Musk and Jensen Huang.
Florida’s Appeal to the Wealthy
Manalapan’s appeal is amplified by its strategic location, situated just 20 minutes from President Trump’s Mar-a-Lago estate. Palm Beach County Commissioner Maria Sachs highlighted that the area’s prominence is partly due to its proximity to Mar-a-Lago, which often draws public attention. This has contributed to a surge in real estate interest, with several beachfront homes near Ellison’s property selling for tens of millions of dollars. Manalapan’s Mayor John Deese expressed his appreciation for Ellison’s and other investors’ contributions, noting that the town has long been recognized for its high real estate values.