Billionnaire CEO Larry Ellison buys Hawaiian island
Thursday 21 June 2012
Oracle's chief executive Larry Ellison has bought 98 percent of Hawaii's sixth-largest island, Lanai, the state's governor has announced.
Ellison, ranked in 2012 as America's third-richest man, is purchasing the property from fellow billionaire David Murdock. Murdock's Castle and Cooke, which owns all but 2 per cent of Lanai's 141 square miles, filed a transfer application with Hawaii's Public Utilities Commission.
Previous media reports put the price tag at between $500 million and $600 million (£383 million), but the price was not revealed in yesterday'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 $36 billion. A yachting enthusiast, he won the America's Cup in 2010 and brought the 2013 America's Cup Finals to San Francisco.
Look beyond the usual shows for the best festive telly
Michelle Nijhuis' daughter insists (s)he is, and she learnt a valuable lesson on gender in books
newsFormer soldier taped 33 of the animals to the floor and then stamped on them one by one
Sun will 'flip upside down' within weeks, says Nasa
Robin Thicke named sexist of the year 2013
Cycle death inquest: Boyfriend hugs driver of 32 tonne tipper truck that killed his girlfriend
Paul Walker death caused by speed alone
Apollo Theatre collapse: Scores injured after ceiling collapses in London's West End
Exclusive: Young people ‘want UK to stay in Europe’: Four in 10 adults aged 18 to 24 are ‘firmly in favour’ of membership, poll shows
Tom Daley ‘is gay because his father died’ says UK evangelist
Iain Duncan Smith leaves Commons food banks debate early
Kiss and yell: Italian protester charged with sexual assault after kissing riot police officer
PM denies two child limit for benefits is part of Tory welfare policy
Anachronistic and iniquitous, grammar schools are a blot on the British education system
- 1 North Koreans are gasping for the truth: Let's give it to them
- 2 Sun will 'flip upside down' within weeks, says Nasa
- 3 Christmas comes early: Justin Bieber is 'retiring from music'
- 4 Burglar steals video tapes of child abuse, hands them into police
- 5 Cycle death inquest: Boyfriend hugs driver of 32 tonne tipper truck that killed his girlfriend
- < Previous
- Next >
£25000 - £40000 per annum: Capita Education Resourcing Permanent Team: This pr...
£28000 - £45000 per annum: Capita Education Resourcing Permanent Team: This pr...
£30000 - £36000 per annum: PCR Recruitment Limited: We are looking for an inno...
£18000 - £21000 per annum + Basic salary +incentives: FCm Travel Solutions: FC...