Ellison Buys Majority of Hawaiian Island
Oracle CEO Larry Ellison is known for making unusual purchases, and his latest real estate deal is definitely in that category. Hawai'i governor Neil Abercrombie announced yesterday that the Silicon Valley software magnate is buying 98 percent of the island of Lanai. The island boasts 50 miles of coastline, two resorts, and some 3,200 residents. It was once owned by the Dole family and was known for its pineapple crop. There's no word yet on what Ellison plans to do with his purchase, or how much he's paying. But some Lanai residents view the move as positive, hoping that Ellison will make investments in infrastructure and create jobs in areas other than tourism.