According to the Palm Beach Daily News, billionaire Larry Ellison, who was ranked by Forbes as the world’s fifth richest person in April 2024, added to his impressive real estate portfolio by purchasing the Eau Palm Beach Resort & Spa in Manalapan, Florida. According to the Palm Beach Daily News, Ellison paid at least $277.34 million for the oceanfront resort, as recorded on August 13, 2024. The sale was first announced by the resort on August 8, though the purchase price was initially undisclosed.
Ellison, the co-founder of Oracle, is no stranger to Manalapan. In June 2022, he set a record by paying $173 million for an ocean-to-lake estate in the same town—the largest residential sale in Florida's history. This latest acquisition further cements his presence in the area.
On August 8, 2024, the day the resort announced the sale, Forbes estimated Ellison's net worth at $159.7 billion, a figure that increased to $162.9 billion the following day.
Ellison plans to enhance the Eau Palm Beach Resort & Spa, though specific details have not been disclosed. The Mediterranean-style resort, which features over 300 rooms, seaside pools, and a 42,000-square-foot spa, was previously owned by the London-based Lewis Trust Group. The resort consistently receives high ratings from travel magazines and hospitality organizations.
This latest acquisition continues to demonstrate Ellison's influence and investment in luxury properties, solidifying his status as a major player in the real estate market and Palm Beach Area.
Source: palmbeachdailynews.com
Photo: eaupalmbeach.com
