Larry Ellison Buy Lanai
Oracle CEO and Co-Founder Larry Ellison buys the Hawaii Island Lanai for $500 million. Ellison is know for his real estate purchases, he owns properties in Malibu, Lake Tahoe, Rancho Mirage. The Lanai purchase is a whole new level for Larry, Lanai is the 6th largest Hawaii island. He will own 98% of the 141 mile island. The state will retain the remaining 2%.
Governor Abercrombie released the following statement, “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. He is also a businessman whose record of community involvement in medical research and education causes is equally notable.We look forward to welcoming Mr. Ellison in the near future.”
Lanai was once a pineapple plantation which was owned by David Murdock owner of Castle & Cooke, better know as Dole Foods.
The purchase also include the Four Seasons Resorts Lanai at Manele Bay and the Four Season Resorts Lanai, Lodge at Koele as well as 2 championship golf courses and clubhouse.