Oracle CEO buys most of a Hawaiian island

Oracle CEO buys most of a Hawaiian island

Oracle CEO Larry Ellison has purchased most of a Hawaiian island, reportedly for somewhere between $500 and $600 million.

The Oracle co-founder has agreed to buy 98% of the island of Lana’i, a stake which was previously owned by billionaire David Murdock. The remaining 2% is owned by the State of Hawaii.

In a statement confirming the sale, released by the Hawaii governor’s office, Governor Neil Abercrombie said:

It is my understanding that Mr. Ellison has had a long standing interest in Lana’i.  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.

Source: CNET

Previously the editor of PCFormat and T3, Nic is a wordsmith by day and a web developer by night. Or is that the other way round? He has been the managing editor of Stuff's print version for several years and is now the digital publisher, leading the web, mobile and app evolution of your favourite mag.