By Daily Mail (U.S.) | Created at 2025-03-24 05:41:33 | Updated at 2025-03-26 02:02:43
1 day ago
Oracle co-founder and Trump confidant Larry Ellison is pouring a fortune into the Florida seaside town of Manalapan as he transforms the area into an exclusive haven.
Ellison, the world's fourth-richest billionaire, is worth more than $187 billion, and also a close friend and political ally of President Donald Trump.
In August of last year, Ellison purchased the town's crown jewel - the 300-room Eau Palm Beach Resort & Spa for a staggering $277 million.
The seaside resort sits 20 minutes south of Donald Trump's Mar-a-Lago compound in ritzy Palm Beach. Ellison's massive cash injection is rapidly transforming the the sliver of coastline into what some are calling the 'new Riviera of American wealth.'
The deal, one of the most expensive hotel purchases in US history, was the latest in a series of acquisitions by the 80-year-old mogul as he looks to rejuvenate the hotel - the town's largest structure and top employer.
It means a town that was once overlooked by developers is now emerging as a billionaire's playground, and all a stone's throw from Trump's 'Winter White House'.
Manalapan, home to just 400 people, was once a quiet enclave of old-money charm, known mostly to insiders and real estate insiders but it also held has long held whispers of glamor.
In the 1950s, the original La Coquille Club on the same stretch of beach welcomed royalty and titans of American industry - from the Duke and Duchess of Windsor to the Vanderbilts and Fords.
The sleepy Florida seaside town of Manalapan, with a population of just 400, is being thrust into the spotlight following a massive investment
Oracle co-founder and Trump confidant Larry Ellison has plowed $450 million of investment into the town
Manalapan, Florida sits just 20 minutes south of Donald Trump's Mar-a-Lago compound
But after decades of decline, the town's glitzy reputation gradually faded.
With the purchase of the Eau Palm Beach, Ellison has vowed to restore its appeal.
He has already launched a Nobu pop-up restaurant on the property - a brand he's closely tied to and known to frequent with fellow tech moguls.
Renovations are underway, and Manalapan's mayor, John Deese, told Bloomberg he believes Ellison's vision could turn the resort into one of the top destinations on the planet.
'The recent sales have just added to the overall success of the real estate market in South Florida,' Deese said. 'We feel very fortunate that Mr. Ellison and others chose Manalapan for their residential and commercial property investments.'
'The hotel has the potential to be an extraordinary property in the town,' echoed local developer Stewart Satter, who recently listed a neighboring estate for an unprecedented $285 million.
Industry insiders are calling it 'The Ellison Effect' - attracting the kind of wealth- that doesn't just elevate a town but it transforms it.
He has promised renovations to the estate and it's expected he will perform a complete renovation from top to bottom, possibly introducing private villas, tech-enhanced rooms, and celebrity-grade amenities that would be among the best in global hospitality.
Ellison is well-versed in top tier resorts being the owner of the Four Seasons Resort Lanai in Hawaii, the Nobu Ryokan Malibu and the Sensei Porcupine Creek, both in California.
In August Ellisone bought the town's crown jewel - the 300-room Eau Palm Beach Resort & Spa for a staggering $277 million
It's believed Ellison may be about to renovate his resort which will create jobs for the area
Local home owners now also get an added perk - free membership at Ellison's luxury resort club. There are no joining fees or annual dues
Real estate analyst Ana Bozovic told Realtor.com that Ellison's arrival has put Manalapan on the map in a way that few other developments ever could.
Median home prices in the town have already begun to soar, with some estates now touching the $100 million mark.
'These titans of industry are essentially emperors bringing their courts with them,' Bozovic said. 'Manalapan is going back to its glamorous roots.
'If Ellison decides to renovate his resort, this will absolutely create jobs and work. This is a net positive for the local economy.'
Homes along the same narrow barrier island stretch are now listed at stratospheric prices: $150 million here, $285 million there. Ellison's neighbors include hedge fund billionaire Chris Rokos, Fox News host Sean Hannity and WeatherTech founder David MacNeil who purchased a glistening $38.5 million home last year.
Among the several homes are on the market in the area, two listed by Nick Malinosky, Mike O’Connor and Gary Pohrer of The Exclusive Group at Douglas Elliman.
One sprawling mansion at 2363 S Ocean Blvd is listed for $33 million, and features a 17,400-square-foot home featuring six bedrooms, nine bathrooms and a 100ft of ocean frontage.
A plot of land at 1300 S Ocean Boulevard will set a new buyer back a cool $32 million - but come with counting Campbell Soup heiress Mary Alice Dorrance Malone as a neighbor.
Part of the town's appeal lies in its sprawling estates and relative seclusion, making it a quieter, more private alternative to Palm Beach, just 10 miles to the north.
With a village-like population and its own dedicated police force, Manalapan offers exclusivity and privacy that wealthy buyers find irresistible.
Local home owners now also get an added perk - free membership at Ellison's luxury resort club. There are no joining fees or annual dues.
While Ellison is best known for revolutionizing enterprise software, his real estate acumen is no less legendary.
His portfolio spans four states and includes ultra-luxe properties in Malibu, Newport, San Francisco, Lake Tahoe and nearly 98 percent of the Hawaiian island of Lanai, which he bought in 2012 for $300 million.
The sliver of exclusive coastline is rapidly transforming into what some are calling the 'new Riviera of American wealth'
The plot at 1300 S Ocean Boulevard in Manalapan for $32 million offers a rare opportunity for a new owner to build their dream estate with fully approved architectural plans already in place
The mansion will offer breathtaking views, luxurious waterfront living, and expansive, pristine outdoor spaces
Another extraordinary oceanfront estate sits at 2363 S Ocean Blvd for a cool $34million
A town that was once overlooked by developers is now emerging as a billionaire's playground
He transformed the island into a luxurious retreat of private airstrips, solar farms, and five-star amenities.
Ellison's real estate push in Manalapan began in 2021, but it wasn't until his record-shattering $173 million purchase of a 62,000-square-foot, ocean-to-lake estate in 2023 that it became clear it was no ordinary land grab.
The purchase set a Florida record and cemented Ellison's intent to shape Manalapan into a billionaire's playground.
Then came the August 2024 acquisition of the Eau Palm Beach Resort.
Palm Beach County Commissioner Maria Sachs noted that proximity to Mar-a-Lago has become a major draw for buyers.
'Every place in that area is having a moment because of Donald Trump,' Sachs told Bloomberg.
'You are so close to Mar-a-Lago, you can get a membership and everyone knows that he's very public there.'
