Oracle co-founder and CTO Larry Ellison is making a significant splash in Florida’s real estate market, investing $450 million to develop an exclusive enclave in Manalapan, a town just 20 minutes from President Trump’s Mar-a-Lago estate. This strategic investment aims to transform the small, affluent community into a premier destination for the ultra-wealthy.
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.
- Manalapan is positioned as an exclusive haven for the mega-rich, benefiting from its proximity to Mar-a-Lago.
A Mega-Investment in Manalapan
Ellison, the world’s fifth wealthiest man, began acquiring properties in the 400-resident town of Manalapan in 2022. His substantial investment includes a Florida record-setting $173 million purchase for a 16-acre estate featuring both beachfront and lakefront access. Additionally, in August 2024, he acquired the Eau Palm Beach Resort & Spa for $277 million, a sprawling property with over 300 rooms.
The Eau Palm Beach Resort & Spa is situated on the grounds of the historic La Coquille Club, which once hosted notable figures like the Duke and Duchess of Windsor. While the original club was demolished in the 1980s, its name lives on as part of the current hotel. Residents of Manalapan can enjoy membership at the beach club without incurring initiation fees or annual dues.
Attracting the Ultra-Rich
Ellison’s move into Manalapan aligns with a broader trend of the ultra-wealthy flocking to Florida. Notable figures like Amazon founder Jeff Bezos and Citadel CEO Ken Griffin have also made significant real estate acquisitions in the state. Manalapan’s mayor, John Deese, expressed his appreciation for Ellison’s investments, noting that the town has long been recognized for its high real estate values.
Ellison’s acquisition of the Eau Palm Beach Resort & Spa is expected to be a major draw for potential high-net-worth buyers. Local developer Stewart Satter, whose $285 million mansion is adjacent to Ellison’s property, believes Ellison’s plans for the hotel could make it a focal point of the area, citing Ellison’s reputation for operating luxurious resorts.
A Proven Track Record in Luxury Development
Ellison’s foray into luxury hospitality is not new. In 2012, he purchased the majority of the Hawaiian island of Lanai for an estimated $300 million. Through his company, Pulama Lanai, he has since renovated the island’s two Four Seasons resort hotels, introducing ultra-luxe amenities and receiving acclaim for his development efforts.
At the Eau Palm Beach Resort & Spa, Ellison has already initiated renovations and introduced a pop-up Nobu restaurant. The proximity to Mar-a-Lago is also seen as a significant advantage, with Palm Beach County Commissioner Maria Sachs noting that the area’s popularity has been boosted by President Trump’s frequent stays at his "Winter White House."