Oracle CEO Larry Ellison Buys Hawaiian Island
June 21st, 2012
I’m going to file this story neatly under the category of yet another reason why I chose the wrong major in college. Oracle CEO Larry Ellison has plunked down a gigantic amount of money to purchase almost the entire Hawaiian island of Lanai. Ellison actually outbid Bill Gates to purchase the island.
Ellison now owns 98% of the 141 square mile island, which is the sixth largest island in the Hawaiian chain by acreage. Exactly how much Ellison paid for the Hawaiian island is unknown, but the reported asking price was between $500 million and $600 million. Billionaire David Murdock previously owned the island.
Murdock sold the island after losing between $18 million to $25 million each year since he purchased it in 1985. If you’re wondering who owns the other 2% of the island, that would be the state of Hawaii. I wonder how angry Bill Gates’ wife was that he didn’t manage to purchase the island, as Gates and his wife were married on the island in 1994. Gates certainly has more money than Ellison, so there’s no excuse.