Gates buys piece of pineapple paradise
Print£12m to get 'leid'
Posted in Business, 12th July 2000 11:36 GMT
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Billionaire Bill Gates has bought a piece of paradise where he once got 'leid'.
The Microsoft founder has splashed out an estimated $19 million (£12.5 million) to possess part of the Hawaiian island where he tied the knot with Mrs Gates. More specifically, he is saying Aloha to a 6.3 per cent stake in property company Castle & Cooke - which owns much of the island of Lanai.
The exotic destination, which has a population of 2426, measures 18 miles by 13 miles and is also known as The Pineapple Island after one of its previous chief exports. Gates rented the island for his wedding to Melinda, and its romantic hotspots include Lover's Rock, while one of the island's activities is lei making - those flowery garlands strewn around the neck in Hawaii.
Castle & Cooke is currently the target of a $400 million bid from its chairman David Murdock. Analysts were yesterday reported to suggest that the Gates buy -made through his private investment company Cascade - could be a prelude to him buying the whole island, or his way of influencing its future. ®
Related Link
Information of Lanai can be found here.
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