Now alleged the fifth wife of Larry Ellison, the 80-year-old co-founder of Oracle, Jolin Zhu, 33, is a China native who moved to the U.S. for a bachelor’s degree at the University of Michigan.

Other moneyed elites have since taken notice of the tiny town, nestled in a secluded corner of Palm Beach County, inundating Manalapan with hundreds of millions of investment dollars. In August ...