Price revealed: Billionaire Larry Ellison dropped $277M for Eau Palm Beach Resort in Manalapan

Billionaire Larry Ellison dropped $277.4 million for the 310-unit oceanfront Eau Palm Beach Resort & Spa in Manalapan.  

Ellison, a co-founder of software company Oracle, bought the 8-acre compound at 100 South Ocean Boulevard from the Lewis family. The Eau Palm Beach Resort announced the purchase on Friday. The price was revealed on Tuesday when the deed hit records. 

Vizzda records show the deal was made through Lawrence Investments, a firm tied to Ellison. 

Eastdil Secured represented the Lewis family in the resort sale. 

The purchase included a 2.8-acre parking lot with a one-story, 2,300-square-foot office building at 499 Greynolds Circle in Lantana, according to real estate database Vizzda, which tracks deeds. 

Ellison, chief technology officer at Austin-based Oracle, has a net worth of $165.8 billion, ranking as the fifth richest person in the world, according to Forbes. 

He plans future updates to the Eau Palm Beach Resort, the property’s news release on the purchase says. 

The resort traces its roots to the 1950s, when it was established as La Coquille Club, a favored spot for the likes of the Vanderbilt, Ford and Rockefeller families, as well as U.S. presidents. In the 1970s, the Simon family razed La Coquille and developed The Ritz-Carlton Palm Beach, according to the release. 

The existing six-story building was completed in 1991, and the property includes two pools, Vizzda records show. The Lewis family bought it in 2003 for $67.5 million and rebranded it as Eau Palm Beach in 2013. 

Ellison, 79, also owns a Manalapan mansion, paying $173 million for the 16-acre estate in 2022. In that, Ellison became part of the wave of high net worth executives from out of state who homed in on South Florida over the past four years, scooping up homes across the tri-county region.  

Ellison’s Manalapan estate purchase set a Florida residential price record. 

His hotel holdings include Four Seasons Lanai and Sensei Lanai in Hawaii, as well as Nobu Ryokan Malibu, Nobu Hotel Palo Alto and Sensei Porcupine Creek in California.