A $450M investment by Oracle’s Larry Ellison is luring the rich to a town 20 minutes from Mar-a-Lago
Known for his technical accomplishments as co-founder and CTO of Oracle in South Florida, Larry Ellison instead flexes his experience as a developer, pouring millions of dollars into real estate and helping transform an exclusive island town 20 minutes from Mar-a-Lago into a haven for the super-rich.
The world’s fifth-richest man began buying property in Manalapan, Florida, a city of 400 people in 2022, and has since pumped $450 million into two high-profile properties. Bloomberg I mentioned. Ellison set a Florida record for the $173 million purchase of a 16-acre estate that includes beachfront and lakefront properties. In August 2024, he paid $277 million for the city’s largest building, a more than 300-room hotel, Eau Palm Beach Resort & Spa, according to Bloomberg.
The hotel is located on the grounds of the original La Coquille Club, which in the 1950s is said to have hosted the Duke and Duchess of Windsor as well as members of the Ford and Vanderbilt families. In the 1980s, the original clubhouse was demolished, but it still exists in name and is part of what is now the Eau Palm Beach Hotel. Property owners in Manalapan can become members of the Beach Club without paying an initiation fee or annual dues, according to the City of Manalapan website.
Michelle Eve Sandberg – AFP via Getty Images
For many years, wealthy people have been increasingly residing in Florida real estate. Amazon founder Jeff Bezos bought three properties on Indian Creek Island, Florida, near Miami. Ken Griffin, founder and CEO of investment firm Citadel, has also spent an estimated $450 million over the years to put together a 25-acre property in Palm Beach.
In Manalapan, several beachfront homes on the same road as Ellison properties have sold for tens of millions of dollars, according to Zillow. However, Manalapan Mayor John Dees said luck That the recent expensive purchases add to Ellison’s investments in the city is very welcome.
“Manalapan has for many years been one of the highest-rated communities in terms of home sales prices in the United States. The recent sales have just added to the overall success of the South Florida real estate market. We feel very fortunate that Mr. Ellison and others have chosen Manalapan for their residential and commercial real estate investments,” Dees said in an email.
Ellison’s purchase of the Eau Palm Beach hotel is a major draw for potential high-net-worth buyers. Stuart Sutter, the local developer of a recently listed $285 million mansion next to Ellison’s property in Manalapan, said Ellison’s plans for the hotel could become a focal point in the area.
“The hotel has the potential to become an exceptional property in the city,” Satter said. Bloomberg. “Ellison certainly has a reputation for running some beautiful resorts.”
Ellison purchased the majority of Hawaii’s Lanai Island in 2012 for an estimated $300 million, and through his company, Pulama Lanai, he redesigned the island’s two Four Seasons Resort hotels, receiving praise for the new, ultra-luxury touches. Among the additions that debuted in 2016 at the Four Seasons Resort Lanai was a $21,000-per-night “Ally Royal Suite,” as well as grotto-style pools and iPad Air devices in every room for ordering room service and housekeeping, among other amenities, according to SFGate.
At the Eau Palm Beach Resort & Spa, Ellison also promised renovations and installed a Nobu pop-up restaurant on site, Bloomberg I mentioned. Nobu seems to be Ellison’s favorite. He and Tesla CEO Elon Musk brought Nvidia CEO Jensen Huang there last year to beg him for more GPUs. Ellison said he picked up the tab.
Another draw to Manalapan and surrounding areas is its proximity to Mar-a-Lago, president Trump’s “Winter White House,” where he often spends weekends, according to Palm Beach County Commissioner Maria Sachs.
“Every place in this region is having a moment because of Donald Trump,” Sachs said. Bloomberg. “You’re so close to Mar-a-Lago, you can get a membership and everyone knows it’s very popular there.”
A version of this story was originally published on Fortune.com On March 21, 2025.
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2025-12-22 14:19:00
