Data provided by McGregor BFA
All data is delayed
Loading...
See More

Oracle CEO buys Hawaiian island

Jun 21 2012 08:52 Reuters

Related Articles

Oracle CEO highest paid of the decade

Abramovich to invest in historic island

Robben Island could go green

Airport can help island to independence

South Africans try to sell island

New real estate haven

 

Honolulu - Billionaire Oracle CEO Larry Ellison bought 98% of Hawaii's sixth-largest island, Lanai, the state's governor announced on Wednesday.

Ellison, ranked in 2012 as America's third-richest man, is purchasing the property from fellow billionaire David Murdock. Murdock's Castle and Cooke Inc, which owns all but 2% of Lanai's 365 square km, filed a transfer application with Hawaii's Public Utilities Commission.

Previous media reports put the price tag at between $500m and $600m, but the price was not revealed in Wednesday's filing.

"It is my understanding that Mr. Ellison has had a long standing interest in Lanai. His passion for nature, particularly the ocean, is well known specifically in the realm of America's Cup sailing," Hawaii Governor Neil Abercrombie said in a statement. "We look forward to welcoming Mr. Ellison in the near future."

Once known for its pineapple fields, Lanai is now visited for its two Four Seasons resorts, golf courses and luxury housing. Microsoft billionaire Bill Gates booked every hotel room on the island for his 1994 wedding.

In March, Forbes listed Ellison, 67, as the world's sixth-wealthiest man, with a net worth of $36bn. A yachting enthusiast, he won the America's Cup in 2010 and brought the 2013 America's Cup Finals to San Francisco.

larry ellison  |  property
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're Talking About: Small Business

Standard Bank is looking for 12 entrepreneurs to participate in a 10-part TV series. They could win a R1m investment into their dream.
 
 

Zuma: Booers are empty vessels

President Jacob Zuma has labelled people who boo at him "empty vessels who make the most noise".

 
 

Latest elections multimedia

DA won't get 30% - Zille
The EFF's ad was banned, see why
Why Jack Parow wants you to vote on 7 May
The ad the SABC doesn't want to air

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...