Larry Ellison, David MacNeil Split $67 Million Florida Site

Larry Ellison and David MacNeil are expanding their Manalapan waterfront turf after dropping a combined $67 million on portions of their neighbor’s land.

Oracle’s Larry Ellison and WeatherTech’s David MacNeil bought the land from Florida real-estate developer Stewart Satter, who last year planned a record-setting $285 megamansion on the 4-acre property, the Wall Street Journal reported.

That plan never came to fruition, and Satter is now dividing the land between MacNeil, who owns property north of Satter’s, and Ellison, who has a 15-acre compound to the south. MacNeil has paid $32 million for part of the Satter parcel, property records show. Ellison will buy the other half for $35 million in a deal set to close in a few weeks, the outlet reported.

Nicholas Malinosky of Douglas Elliman represented Satter in the deal. Margit Brandt of Premier Estate Properties represented MacNeil.

Ellison paid $173 million for his compound in 2022. MacNeil bought his 1.9-acre property for $68.3 million in February.

MacNeil is set to purchase another contiguous parcel on the other side of his house for $36 million. The sellers for that property are car-dealership owner Ralph Gesualdo and his wife, Mary Gesualdo. MacNeil will have about 5.5 acres total of land on the barrier island with the latest purchase, the outlet said.

Both billionaires have been active in South Florida’s real estate markets in recent years.

MacNeil has bought and sold more than $233 million worth of South Florida homes this year, The Real Deal previously reported. Last month, he sold a Fort Lauderdale mansion for $26 million to Pablo Umansky. In April, he offloaded a 3.6-acre Manalapan oceanfront assemblage for $105 million, which was the most expensive land sale ever in the town.

In 2024, Ellison bought Manalapan’s Eau Palm Beach Resort & Spa. Last year, he paid $30 million for the 254-acre Lion Country Safari in Palm Beach County.

With a net worth of $238.8 billion, Ellison is the fifth richest person in the world, according to Forbes. — Grace McClung