Share to Facebook Share to Twitter Share to Linkedin Oracle founder Larry Ellison has purchased the Eau Palm Beach Resort & Spa, a 309-room property in Manalapan, less than seven miles from Mar-A-Lago. O racle founder Larry Ellison , whose net worth of $163.7 billion puts him at No.
5 on Forbes ’ list of the world’s wealthiest people, has purchased the Eau Palm Beach Resort & Spa, a 309-room luxury beachfront hotel just south of Palm Beach , for an undisclosed price thought to be north of $300 million, people familiar with the transaction told the Palm Beach Daily News . The seller, London-based venture capital firm Lewis Trust Group, bought the hotel for $67.5 million in 2003 while it was a Ritz-Carlton.
The property was rebranded a decade later as the Eau Palm Beach and has operated as part of the Preferred Hotels & Resorts Legend Collection. The property has a five-star rating from the Forbes Travel Guide. “Our family feels privileged to have been a successful part of the Eau Palm Beach story,” Simon Lewis, principal of the Lewis Trust Group, said in a statement.
“Though we are sorry to bring our tenure to a close, we are gratified in knowing that Larry Ellison will treasure the resort and guide its hoteliers to even greater heights.” The Eau Palm Beach is just the latest addition to Ellison’s real estate and luxury hotel portfolio, which has grown since Forbes valued it at $1 billion in 2021. Two years ago, Ellison purchased a private 63,200-square-foot mans.