Larry Ellison is largely known for his tech innovations, but the Oracle cofounder is just as invested in hospitality—literally.
The billionaire Ellison , currently the seventh-richest person on the planet, just acquired the Eau Palm Beach Resort & Spa in Manalapan, Florida . The five-star hotel has existed in many iterations since it was established in the 1950s; Ellison is taking over the property from the Lewis family, who held control since 2003.
“Our family feels privileged to have been a successful part of the Eau Palm Beach story,” Simon Lewis, the 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. Though we leave behind countless memories and friends, we will always look back on our long association with Manalapan with gratitude and pride.”