Oracle co-founder Larry Ellison is making a significant splash in Florida’s real estate market, investing heavily in the exclusive town of Manalapan. With a substantial financial commitment, Ellison aims to cultivate the area into a premier destination for the world’s wealthiest individuals, drawing parallels to his previous ventures in luxury hospitality.
Key Takeaways
- Larry Ellison has invested $450 million in Manalapan, Florida, acquiring significant properties.
- His acquisitions include a record-breaking beachfront estate and the Eau Palm Beach Resort & Spa.
- Ellison’s strategy mirrors his successful development of the Hawaiian island of Lanai.
- The move is part of a broader trend of the ultra-wealthy investing in South Florida real estate.
A Multi-Million Dollar Investment
Larry Ellison, the fifth wealthiest man globally, has injected $450 million into the South Florida real estate scene, focusing on the small, exclusive town of Manalapan. Since 2022, Ellison has been acquiring properties, most notably a $173 million estate that set a Florida record for its size and dual beachfront and lakefront access. In August 2024, he further solidified his presence by purchasing the Eau Palm Beach Resort & Spa for $277 million. This expansive hotel, once the site of the historic La Coquille Club, has a legacy of hosting prominent families.
Transforming Manalapan
Ellison’s vision for Manalapan extends beyond mere property acquisition. He plans to renovate the Eau Palm Beach Resort & Spa, already introducing a pop-up Nobu restaurant, a brand he seems to favor. This mirrors his successful transformation of the Hawaiian island of Lanai, where he invested heavily in luxury resorts and amenities, including ultra-luxe suites and enhanced guest services. The mayor of Manalapan, John Deese, has welcomed Ellison’s investments, noting that they contribute to the town’s already high property values and its reputation as a desirable location.
A Growing Trend for the Wealthy
Ellison’s significant investment in Manalapan aligns with a larger trend of the ultra-rich flocking to Florida. Notable figures like Jeff Bezos and Ken Griffin have also made substantial real estate acquisitions in the state, particularly in exclusive enclaves like Indian Creek and Palm Beach. The proximity of Manalapan to Mar-a-Lago, President Trump’s residence, is also cited as a contributing factor to the area’s current appeal. Local developers believe Ellison’s plans for the Eau Palm Beach Resort & Spa could become a central attraction, further enhancing the town’s allure for high-net-worth individuals.
Sources
- After pouring $450 million into Florida real estate, Oracle’s Larry Ellison plans to lure the ultra-rich to
an exclusive town 20 minutes from Trump’s Mar-a-Lago, Fortune. - Larry Ellison Is Leading Florida’s Manalapan Real Estate Boom, Bloomberg.