O
racle co‑founder Larry Ellison is turning the 400‑resident Manalapan, Fla., into a playground for the ultra‑rich. The tech billionaire has poured $450 million into the town’s real‑estate market, acquiring a 16‑acre beachfront‑lakefront estate for $173 million in 2022 and, in August 2024, buying the town’s flagship 300‑room hotel, the Eau Palm Beach Resort & Spa, for $277 million. The property, built on the former La Coquille Club grounds, now offers free membership to local homeowners, eliminating initiation fees and dues.

    Ellison’s move follows a trend of high‑net‑worth individuals flocking to Florida. Amazon founder Jeff Bezos owns three homes on Indian Creek, while Citadel CEO Ken Griffin has invested roughly $450 million in a 25‑acre Palm Beach estate. In Manalapan, several beachfront houses on the same road as Ellison’s purchase have fetched tens of millions, according to Zillow.

    Mayor John Deese welcomed the influx, noting that Manalapan has long been among the nation’s most expensive markets and that Ellison’s investment boosts the local economy. “The recent sales add to our success,” Deese said in an email to Fortune.

    Local developer Stewart Satter, who recently listed a $285 million mansion next to Ellison’s property, sees the hotel as a catalyst for the area. “It could become an extraordinary landmark,” Satter told Bloomberg, adding that Ellison’s reputation for luxury resorts bodes well.

    Ellison’s real‑estate ventures extend beyond Florida. In 2012 he acquired the Hawaiian island of Lanai for about $300 million, and through Pulama Lanai has upgraded the island’s two Four Seasons hotels, adding high‑end suites and tech‑savvy amenities. At Eau Palm Beach, he has pledged renovations and installed a pop‑up Nobu restaurant, a favorite of his. He famously hosted Tesla CEO Elon Musk and Nvidia CEO Jensen Huang there, covering the cost of their stay.

    The town’s proximity to Mar‑a‑Lago, President Trump’s “Winter White House,” adds another layer of allure. Palm Beach County Commissioner Maria Sachs noted that the area’s popularity is amplified by Trump’s frequent weekend visits, making membership in the nearby club highly sought after.

    Ellison’s involvement is reshaping Manalapan into a magnet for the wealthy, blending historic charm with modern luxury and positioning the town as a prime destination for high‑net‑worth buyers.