A just-revealed court document shows Oracle software billionaire Larry Ellison paid at least $277.39 million for the beachfront Eau Palm Beach Resort & Spa in Manalapan , the wealthy town south of Palm Beach.
As previously reported by the Palm Beach Daily News , the resort’s seller announced the sale Aug. 8 but did not disclose the price that was paid for the luxury property.
The amount that changed hands in the deal may have been higher than the price recorded Aug. 13 with the deed. Prices recorded at the Palm Beach County Courthouse sometimes don’t reflect real estate commissions, fees, furnishings and other costs associated with a real estate closing.
Ellison is familiar with Manalapan, as he owns the largest residential estate in town . He also owns other luxury hospitality properties. Forbes estimates Ellison’s net worth at $166 billion , which makes him the fifth-richest person in the world.
Ellison bought the Mediterranean-style, 300-plus-room resort in Manalapan from Zinfandel Holdings, a Delaware limited liability company affiliated with the Lewis Trust Group. That company has a mailing address in Roseville, California, the deed shows.