Billionaires Larry Ellison of software giant Oracle and David F. MacNeil of WeatherTech have made plans to expand their estates in Manalapan by splitting up a four-acre vacant lot sandwiched between their ocean-to-lake properties in the wealthy town south of Palm Beach.
The Wall Street Journal first reported June 15 that the two sales involving the ocean-take vacant lot are expected to total $67 million.
Ellison is expected to expand his estate of more then 22 acres — the largest in Manalapan — with a $35 million purchase of the southern portion of the lot in a deal said to close in a few weeks, the Journal reported, citing people familiar with the in-the-works sale.
MacNeil, in turn, on June 15 closed a $32 million deal to buy the slightly smaller remaining portion, which abuts his house and its parcel of about 2 acres, the Palm Beach Daily News has confirmed with the seller, former Manalapan Mayor Stewart Satter.
The bulk of the vacant property is on the beach side of South Ocean Boulevard, although a smaller parcel fronts the Intracoastal Waterway on the west side of the coastal road.
MacNeil’s portion of the vacant lot came with 150 feet of ocean frontage and the same amount on the Intracoastal Waterway, while the one Ellison is expected to purchase has about 200 feet on the lake and the beach.
MacNeil also in in the process of acquiring the estate immediately north of his home for about $36 million, the Journal reported.
Satter used an ownership company to buy the lot at 1960 S. Ocean Blvd. in March 2024 for a recorded $27.5 million and then razed a 1989 mansion there. In January 2025, Satter announced plans for a contemporary-style mega-mansion to be developed on speculation on the lot with a price tag of $285. That project was billed as the country’s most expensive new-construction residential project.
But Satter changed course and later marketed the vacant lot with the unbuilt house plans. More recently, he marketed the property as two parcels, with the one purchased by MacNeil priced at $35 million and the one expected to go to Ellison marketed at $40 million.
In an interview with the Palm Beach Daily News, Satter described the land as an “extraordinary piece of dirt” and said Ellison had expressed interest in the property “early on.”
Ellison’s representatives eventually “came to us and said they would like to buy part of the lot,” Satter told the Daily News.
“I’m delighted with the deal,” Satter said. “I always thought that Mr. Ellison would be the buyer. It always made sense that he would buy it. Why not?”
Satter confirmed the sale prices reported by the Journal.
Agent Nicholas Malinosky of Douglas Elliman’s Exclusive Group is Satter’s representative in the two deals. Malinosky also is the sole agent involved in the in-the-works Ellison deal, Satter confirmed.
Margit Brandt of Premier Estate Properties represented MacNeil in his purchase and is also acting on his behalf in the purchase of the estate at 1920 S. Ocean Blvd., immediately north of MacNeil’s home, the Journal reported.
Ellison has owned his estate at 2000 S. Ocean Blvd. since 2022, when he bought it for a recorded $173 million, setting a new Florida residential sales record. Ellison’s ownership entity bought the estate — and part of nearby Bird Island in the Intracoastal Waterway — from a trust controlled by a fellow software billionaire, Jim Clark. In all, the estate and its island measure more than 22 acres.
Ellison also owns the Eau Resort and Spa, about 2½ miles north of his estate. He bought the resort in 2024 for about $277.4 million.
MacNeil, who made his fortune manufacturing and selling car accessories, paid a recorded $68.32 million for his estate in February. His contemporary-style mansion at 1940 S. Ocean Blvd. was built by the previous owners on land once owned as a vacant lot by “Piano Man” singer Billy Joel.
In an email, MacNeil told the Journal that buying Satter’s former property accommodated his plans to add on “to our existing home, which will allow a larger garage, extra bedrooms, and a few other amenities.”
The estate lies a mile south of a double sea-to-lake vacant lot MacNeil assembled in 2024 and 2025 and sold for recorded $105 million in April.
MacNeil founded and owns WeatherTech, a company based in Greater Chicago that makes and sells car floor mats, cellphone holders and other products, its website shows. He established the company in 1989.
MacNeil has an estimated net worth of $4.2 billion, according to Forbes.com.
Ellison’s net worth is $238.9 billion, according to Forbes. Ellison co-founded Oracle and serves as its chairman, chief technology officer and former CEO. The company, headquartered in Austin, Texas, is billed as the world’s largest database-management company.
In April 2021, a company linked to Ellison paid $80 million for an oceanfront estate on 6½ acres in the Seminole Landing community near North Palm Beach in Palm Beach County.
(This story was updated from a previous version.)
This is a developing story. Check back for updates.
Darrell Hofheinz is a USA TODAY Network of Florida journalist who writes about Palm Beach real estate in his weekly “Beyond the Hedges” column. He welcomes tips about real estate news on the island. Email dhofheinz@pbdailynews.com.
This article originally appeared on Palm Beach Daily News: Billionaires Ellison, MacNeil plan to expand estates near Palm Beach
Reporting by Darrell Hofheinz, Palm Beach Daily News / Palm Beach Daily News
USA TODAY Network via Reuters Connect
By Darrell Hofheinz, Palm Beach Daily News | USA TODAY Network
