Larry Ellison Acquires Eau Palm Beach Resort for $277.4 Million, Adding to Florida Real Estate Portfolio

Billionaire Larry Ellison, co-founder of Oracle, has expanded his real estate holdings with the $277.4 million purchase of the oceanfront Eau Palm Beach Resort & Spa in Manalapan. The deal, executed through Ellison’s firm, Lawrence Investments, includes the 310-unit, 8-acre resort located at 100 South Ocean Boulevard, a 2.8-acre parking lot, and a 2,300-square-foot office building near Lantana.

The sale, facilitated by Eastdil Secured, was made public when the deed entered records on Tuesday. With a net worth of $165.8 billion, Ellison is ranked by Forbes as the fifth richest person in the world. He plans to implement updates to the resort, which has a long history dating back to its origins as La Coquille Club in the 1950s, a getaway for prominent families like the Vanderbilts, Fords, and Rockefellers, as well as U.S. presidents.

The property evolved over the years, becoming The Ritz-Carlton Palm Beach in the 1970s before being rebranded as Eau Palm Beach in 2013 by the Lewis family, who had purchased it for $67.5 million in 2003. The resort, completed in its current form in 1991, features two pools and other luxury amenities.

Ellison, now 79, continues to grow his presence in South Florida. In 2022, he purchased a 16-acre Manalapan mansion for $173 million, setting a state residential price record. His hotel portfolio also includes luxury properties such as the Four Seasons Lanai and Sensei Lanai in Hawaii and Nobu Ryokan Malibu, Nobu Hotel Palo Alto, and Sensei Porcupine Creek in California.

Ellison’s acquisition marks another significant investment in South Florida by high-net-worth individuals, part of a more substantial trend over the past four years.