Oracle co-founder Larry Ellison has made a significant splash in South Florida’s real estate market, investing a staggering $450 million in the exclusive town of Manalapan. This move is transforming the small, affluent community, located just 20 minutes from former President Donald Trump’s Mar-a-Lago estate, into a prime destination for the ultra-wealthy.
Key Takeaways
- Ellison has invested $450 million in two major Manalapan properties since 2022.
- His purchases include a record-breaking $173 million estate and the $277 million Eau Palm Beach Resort & Spa.
- The investments are attracting other high-net-worth individuals and boosting the local real estate market.
- Manalapan’s proximity to Mar-a-Lago is also cited as a factor in the area’s growing appeal.
A Major Real Estate Play
Larry Ellison, the fifth-wealthiest person globally, has shifted his focus from technology to real estate development in Manalapan, Florida. Since 2022, he has injected $450 million into the town, which boasts a population of only 400 residents. His acquisitions include a sprawling 16-acre estate that set a Florida record with its $173 million price tag, featuring both beachfront and lakefront access. In August 2024, Ellison further solidified his presence 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 La Coquille Club, which once hosted notable figures like the Duke and Duchess of Windsor.
Attracting the Elite
Ellison’s substantial investments are contributing to Manalapan’s reputation as a haven for the mega-rich. The town’s mayor, John Deese, expressed his approval, stating that Ellison’s and other high-value purchases are enhancing the success of the South Florida real estate market. The acquisition of the Eau Palm Beach Resort & Spa is expected to be a significant draw for potential buyers. Local developer Stewart Satter noted that Ellison’s plans for the hotel could make it an "extraordinary property in the town."
This trend of the ultrarich flocking to Florida is not new. Amazon founder Jeff Bezos has acquired multiple properties on Indian Creek near Miami, and Ken Griffin, CEO of Citadel, has invested an estimated $450 million in Palm Beach real estate.
Ellison’s Track Record and Future Plans
Ellison has a history of significant real estate ventures, notably his purchase of the Hawaiian island of Lanai in 2012 for approximately $300 million. Through his company Pulama Lanai, he has renovated the island’s Four Seasons resorts, introducing ultra-luxe amenities. At the Eau Palm Beach Resort & Spa, Ellison has already initiated renovations, including the addition of a permanent Nobu restaurant, a brand favored by Ellison and associated with high-profile business meetings.
The Mar-a-Lago Effect
The strategic location of Manalapan, a mere 20 minutes from Mar-a-Lago, is also a significant factor in the area’s appeal. Palm Beach County Commissioner Maria Sachs commented that the proximity to Trump’s "Winter White House" is contributing to a "moment" for the entire region, making it an attractive area for those seeking exclusivity and proximity to prominent figures.