Oracle co-founder Larry Ellison is making a significant splash in South Florida’s real estate market, investing $450 million in the exclusive town of Manalapan. This substantial investment is transforming the small, 400-resident community into a magnet for the mega-rich, drawing parallels to other wealthy enclaves in the Sunshine State.
Key Takeaways
- Oracle’s Larry Ellison has invested $450 million in Manalapan, Florida.
- The investment includes a record-breaking estate purchase and the acquisition of the Eau Palm Beach Resort & Spa.
- Ellison’s move is contributing to Manalapan’s status as a haven for the ultra-wealthy.
- The town’s proximity to Mar-a-Lago is also cited as a draw for affluent residents.
A Transformative Investment
Ellison, known for his technological prowess, has shifted his focus to real estate development in Manalapan, a town situated just 20 minutes from Mar-a-Lago. Since 2022, he has poured $450 million into two significant properties. In 2022, he set a Florida record by purchasing a 16-acre estate for $173 million, featuring both beachfront and lakefront access. More recently, in August 2024, Ellison acquired the Eau Palm Beach Resort & Spa for $277 million, the town’s largest structure with over 300 rooms.
The Eau Palm Beach Resort & Spa has a storied past, with its grounds once hosting the La Coquille Club in the 1950s, which reportedly welcomed notable figures like the Duke and Duchess of Windsor, as well as members of the Ford and Vanderbilt families. While the original club was demolished in the 1980s, its legacy continues as part of the current hotel. Manalapan property owners benefit from membership at the beach club without initiation fees or annual dues.
Manalapan’s Growing Appeal
Manalapan’s real estate market has long been robust, with several beachfront homes along the same road as Ellison’s property selling for tens of millions of dollars. Mayor John Deese expressed his approval of Ellison’s investments, stating that they contribute to the overall success of the South Florida real estate market. He noted that Manalapan is fortunate to have attracted such significant residential and commercial property investments.
Ellison’s acquisition of the Eau Palm Beach Resort & Spa is expected to further enhance the town’s allure for high-net-worth individuals. Local developer Stewart Satter believes Ellison’s plans for the hotel could make it an extraordinary focal point for the area, leveraging Ellison’s reputation for operating high-end resorts.
This move echoes Ellison’s previous real estate venture on the Hawaiian island of Lanai, which he purchased in 2012 and subsequently renovated 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.
Proximity to Mar-a-Lago
The strategic location of Manalapan, close to President Trump’s Mar-a-Lago estate, is also a significant draw. Palm Beach County Commissioner Maria Sachs highlighted that the area is experiencing a "moment" partly due to its proximity to Mar-a-Lago, which is often visited by the President, making it a well-known public destination.