Oracle founder Larry Ellison closed on his purchase of land next to his Manalapan estate for $34.4 million.
Ellison acquired the 2.2-acre southern portion of the property at 1960 South Ocean Boulevard from developer Stewart Satter. Satter sold the other piece to WeatherTech mogul David MacNeil for $32 million. That deal closed earlier this summer. Satter planned a $285 megamansion on the 4-acre property.
Ellison and MacNeil are adding land to their estates with the deals, as part of a trend that’s been dubbed “landmaxxing.”
Douglas Elliman’s Nicholas Malinosky, who represented Satter and Ellison in the latest deal, said that adding land is more about “buying the opportunities of what the future could hold.” Malinosky, who declined to name the buyer, called the trade a “no-brainer.” One of the best parts is that they don’t need to be convinced to pull the trigger on a deal.
“They already know what this lifestyle brings,” he said. “They’re already happy.”
Ellison had a head start on landmaxxing. In 2022, he paid $173 million for his home, a 16-acre compound at 2000 South Ocean Boulevard that previously belonged to Netscape co-founder Jim Clark. At the time of the sale, the compound included more than 30 bedrooms across a main house, two beachside cottages and two more houses, including one for staff.
Amenities include swimming pool, golf area, tennis court and half-basketball court, as well as 1,200 feet on the Atlantic Ocean and 1,300 feet along Lake Worth, with connections via tunnels, including a furnished tunnel underneath South Ocean Boulevard that features a 15-foot-wide gallery.
Ellison has continued to spread money around in South Florida. In 2024, Ellison paid $277.4 million for Eau Resort & Spa in Manalapan. A year later, he bought the 254-acre Lion Country Safari drive-thru animal park for $30 million.
Ellison is worth more than $154 billion, making him one of the 10 wealthiest people in the world, according to Forbes.
MacNeil owns the properties at 1920 and 1940 South Ocean Boulevard, to the north of Ellison’s compound. Earlier this month, he paid $36 million for the property at 1920 South Ocean Boulevard.
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