Oracle co-founder Larry Ellison is making a significant splash in South Florida’s real estate market, investing $450 million to acquire and develop properties in the exclusive town of Manalapan. This substantial investment is transforming the small island community, located just 20 minutes from former President Trump’s Mar-a-Lago estate, into a prime destination for the mega-rich.
Key Takeaways
- Larry Ellison has invested $450 million in Manalapan, Florida.
- His acquisitions include a record-breaking beachfront estate and the Eau Palm Beach Resort & Spa.
- The investments are drawing other wealthy individuals to the area.
- Proximity to Mar-a-Lago is cited as a significant draw for the region.
A Major Real Estate Investment
Ellison, the fifth-wealthiest man globally, began acquiring property in Manalapan in 2022. His investments total $450 million, according to Bloomberg. This includes a $173 million purchase of a 16-acre estate featuring both oceanfront and lakefront access, setting a new Florida record. In August 2024, he further expanded his holdings by purchasing the Eau Palm Beach Resort & Spa for $277 million. This hotel, the largest structure in Manalapan, is situated on the historic grounds of the former La Coquille Club, which once hosted notable figures like the Duke and Duchess of Windsor.
Transforming Manalapan into a Luxury Hub
The influx of capital and Ellison’s development plans are poised to enhance Manalapan’s status as an enclave for the ultra-wealthy. Mayor John Deese expressed enthusiasm for Ellison’s investments, noting that Manalapan has consistently ranked high in U.S. home sales prices. Ellison’s reputation for developing high-end resorts, as demonstrated by his extensive work on the Hawaiian island of Lanai, suggests a promising future for the Eau Palm Beach Resort & Spa. Early renovations have already included the introduction of a Nobu restaurant, a favorite of Ellison’s.
The Mar-a-Lago Effect
Manalapan’s appeal is amplified by its close proximity to Mar-a-Lago, Donald Trump’s Florida residence. Palm Beach County Commissioner Maria Sachs noted that the area is experiencing a "moment" partly due to the visibility of Mar-a-Lago and the potential for residents to gain membership. This strategic location, combined with Ellison’s significant investments, is attracting other high-net-worth individuals, with several beachfront homes in the vicinity selling for tens of millions of dollars.