Oracle co-founder Larry Ellison is making a significant splash in South Florida’s real estate market, investing $450 million to develop the exclusive town of Manalapan. This move aims to transform the small, 400-resident community into a prime destination for the ultra-wealthy, situated just 20 minutes from former President Donald Trump’s Mar-a-Lago estate.
Key Takeaways
- Larry Ellison has invested $450 million in Manalapan, Florida.
- The investment includes a record-breaking $173 million estate and the $277 million Eau Palm Beach Resort & Spa.
- The development aims to attract high-net-worth individuals to the area.
- Proximity to Mar-a-Lago is seen as a significant draw for the region.
A Mega-Investment In Manalapan
Ellison, known for his technological prowess with Oracle, is now demonstrating his ambition as a real estate developer. Since 2022, he has been acquiring properties in Manalapan, a town already recognized for its high property values. His substantial investment includes a 16-acre estate purchased for $173 million, setting a Florida record. This property boasts both beachfront and lakefront access.
Furthermore, in August 2024, Ellison acquired the Eau Palm Beach Resort & Spa for $277 million. This hotel, with over 300 rooms, is situated on the historic grounds of the former La Coquille Club, which once hosted notable figures like the Duke and Duchess of Windsor.
Attracting The Elite
The acquisition of the Eau Palm Beach Resort & Spa is expected to serve as a major draw for potential high-net-worth buyers. Local developers believe Ellison’s plans for the hotel could make it a central attraction in the area. Ellison has a proven track record in developing luxury properties, notably his extensive work on the Hawaiian island of Lanai, where he has renovated Four Seasons resorts and introduced ultra-luxurious amenities.
At the Eau Palm Beach Resort & Spa, Ellison has already initiated renovations, including the addition of a permanent Nobu restaurant, a known favorite of his. This aligns with his reputation for creating exceptional resort experiences.
The Mar-a-Lago Effect
The appeal of Manalapan and its surrounding areas is further amplified by its close proximity to Mar-a-Lago. This location, often referred to as President Trump’s "Winter White House," is a significant factor contributing to the region’s current popularity. The visibility and accessibility of Mar-a-Lago are seen as drawing attention and investment to the entire area, making it a desirable location for affluent individuals.