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After pouring $450 million into Florida real estate, Larry Ellison plans to lure the ultrarich to an exclusive town just minutes from Mar-a-Lago [Yahoo! Finance Canada]
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The multibillionaire has already made a cumulative $450 million real estate investment in the town and has taken over its biggest structure, the Eau Palm Beach Resort & Spa, which offers memberships to town property owners without initiation fees or dues. Known for his tech feats as cofounder and chief technology officer of Oracle, Larry Ellison is instead flexing his developer experience in South Florida as he pours millions of dollars into real estate and helps transform an exclusive island town 20 minutes from Mar-a-Lago into a haven for the mega-rich. The world's fifth-wealthiest man started buying properties in the 400-resident town of Manalapan, Fla., in 2022, and since then has pumped $450 million into two landmark properties, Bloomberg reported. Ellison set a Florida record for the purchase of a $173 million estate spanning 16 acres that includes both beachfront and lakefront property. And in August 2024, he paid $277 million for the town's biggest structure, a hotel with
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