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Larry Ellison buys Hawaiian island.

Larry Ellison, CEO of Oracle, has bought an island in Hawaii, according to the BBC .

Ellison is said to have taken a 98% stake

in the island of Lanai.

Terms of the deal were not disclosed,

although the initial asking price for the island, which is the smallest

publicly accessible island in the Hawaiian chain, was put at $500-600m.

Ellison is the sixth richest person in the

world, with an estimated net worth of $36bn, and he was also ranked as the top

earning CEO of the decade in 2010. Ellison is known for his real estate

investments, including a Japanese feudal themed estate in California, along with extravagant spending

on yachts, ocean-going racing vessels and planes.

Lanai, known as Pineapple island, is 141 sq mile in area, and home to around 3,200 residents and several luxury resorts. It was previously owned by billionaire David Murdock.

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Publication:ITP.net
Date:Jun 21, 2012
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