Oracle Corp. CEO Larry Ellison bought 98% of the Hawaiian island of Lana’i from U.S. billionaire David Murdock’s Castle & Cooke real estate company for an undisclosed sum.
Regulatory filings with the Hawaiian state government indicate was in the hundreds of millions of dollars.
Hawaii’s Public Utilities Commission still needs to approve the sale. Included in the purchase are the 236-room Four Seasons Resort Lanai at Manele Bay and the 102-room Four Seasons Resort Lana’i, The Lodge at Koele.
The purchase includes 88,000 acres (35,612 hectares). The remaining 2% of the island is owned by the state government. About 3,000 people live on Lana’i.
Ellison is one of the richest persons in the U.S., with a net worth estimated to be over US$30 billion. Oracle Corp., Redwood Shores, California, is a computer technology corporation.