Feeds

Larry Ellison buys island 1000x bigger than Branson's

No details yet on volcano, submarine dock etc

Gartner critical capabilities for enterprise endpoint backup

Billionaire CEO Larry Ellison has fulfilled the dream of mega-rich folks everywhere: he has just bought his very own island.

Lanai island in Hawaii

If you like piña colada... Credit: Hawaii Tourism Authority/Pierce M Myers Photography

The Oracle chief has snapped up the sixth-largest island in Hawaii, Lanai, in a deal with Castle & Cooke, a privately held conglomerate that had owned 98 per cent of the 141 square mile (365km2) island*.

Hawaii governor Neil Abercrombie said in a canned statement that the islands looked forward to welcoming Ellison.

"It is my understanding that Mr Ellison has had a long-standing interest in Lanai," Abercrombie said.

"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."

Castle & Cooke filed a transfer application with the Public Utilities Commission on Tuesday to sign the island over to Ellison. It didn't say exactly how much Larry was buying the island for, although it did mention "hundreds of millions of dollars", and other media reports put the price tag at between $500m and $600m.

The list of what Ellison will get on the island is long, but includes two Four Seasons resorts, two golf courses, over 88,000 acres of land, interest in a solar farm and some utility companies.

"The buyer anticipates making substantial investments in Lanai is looking forward to partnering with the people of Lanai to chart the island's future," the application said.

The firm is seeking interim approval on the deal by 26 June. ®

*Branson's Necker Island measures a paltry 0.115 square miles (300,000m2, or 74 acres).

Next gen security for virtualised datacentres

More from The Register

next story
Cops baffled by riddle of CHICKEN who crossed ROAD
'Officers were unable to determine Chicken's intent'
Drunkards warned: If you can't walk in a straight line, don't shop online, you fool!
Put it away boys. Cover them up ladies. Your credit cards, we mean
Yes, but what are your plans if a DRAGON attacks?
Local UK gov outs most ridiculous FoI requests...
Murder accused DIDN'T ask Siri 'how to hide my roommate'
US court hears of cached browser image - not actual request
Why your mum was WRONG about whiffy tattooed people
They're a future source of RENEWABLE ENERGY
Chomp that sausage: Brits just LOVE scoffing a Full Monty
Sales of traditional brekkie foods soar as hungry folk get their mitts greasy
Nuts to your poncey hipster coffees, I want a TESLA ELECTRO-CAFE
Examining the frothy disconnect in indie cafe culture
Ex-Apple man Sam Sung - for it is he - sticks namebadge on eBay
Stump up via tat bazaar, do a good thing for ill kids
prev story

Whitepapers

5 things you didn’t know about cloud backup
IT departments are embracing cloud backup, but there’s a lot you need to know before choosing a service provider. Learn all the critical things you need to know.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.
Rethinking backup and recovery in the modern data center
Combining intelligence, operational analytics, and automation to enable efficient, data-driven IT organizations using the HP ABR approach.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.