Oracle CEO Larry Ellison buys Hawaiian island of Lanai, reportedly for $500-600 million
“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.”
The Maui News, which has been covering the sale for a while, reported that the asking price was between $500-600 million for the entire island… which quite frankly sounds like a steal. Lanai is famous because of Dole Foods, which bought the island in 1922 and turned it into the world’s largest pineapple plantation for a time. Dole is a subsidiary of Castle & Cooke, whose current owner and chairman David Murdock is the one selling the island. Find a good bit more about the history of the transaction and island residents’ worries about the deal at our Maui News source links.