Man Buys Hawaiian IslandHawaiian island bought
This is the rest of the planet Earth he has.
Just now Larry Ellison has added another award to his own private portfolio: his own Hawaiian carrier. Ellison Island wanted to buy Air to help the locals come to Lanai, the Hawaiian island he has. Purchasing an airlines is a very Ellison-like thing. Dad, Ellison is a plane scouting and collecting airplanes.
He has a kid who's a stuntpilot.
Multi-billionaire Oracle acquires Hawaiian island
Lairry Ellison, Chief Executive Officer of Oracle, the largest company in the industry, and the 6th-strongest man in the business (Forbes magazine), signs a contract to acquire Lanai, a Hawaiian island. Sales are a particularly open manifestation of the dominance of the ultra-rich over all facets of US society.
It has 82 rooms on five levels, with a total of 8,000 m² of floor area, on-yx worktops, on-board movie theater and a large winery. It has three multi-million US dollars residencies in the San Francisco Bay Area, one of which, its Pacific Heights two-story, 10,000 sq. m. pied-à-terre, has a well and a stone yard behind a frozen court walls, which becomes clear with a twist of a wrench.
Now Ellison adds a rather eye-catching gem in the shape of a Pacific island to his throne. It is certainly not the first that a wealthy man has purchased an island, but what makes this remarkable is firstly the extent and secondly the fact that it is part of an US state.
It is Lanai, the 6th biggest island in the Hawaiian range. Because of its past as a region for the cultivation of pineapples, Lanai is also known as the "Pineapple Island". ellison signs a contract to move 98% of the island's 140 sq. m. to Castle & Cooke, the former owners of Dole Food Corporation, the world's leading fruit and vegetable group.
The Castle & Cook shares are held by David Murdock, a multimillionaire who took the business privately in 2000 when he purchased the other stockholders for $700 million. It was released Wednesday by the Governor of Hawaii, Neil Abercrombie, but the contract of purchase dated May 2 was edited by the vendor's attorneys and said the papers contained sensitive information that would harm Ellison in the competition.
It has 30 kilometres of asphalt road, 400 kilometres of dirt road and no stoplights. There are 3,200 people on the island, many of whom are living on Ellison's lands and apparently have the chance to become his underlings. Lanai once accounted for 75 per cent of the world's pineapple production, according to regional history.
The company ceased producing pineapples when it bought the island in 1985. Since then Murdock has concentrated on the development of the island's tourist industry, but above all on more spoiled visitors who can buy four-star accommodation at the resort. In 1994, when Bill and Melinda Gates got divorced, every room on the island was reserved for the time.
The island's unemployed are high. The Hawaii Tourist Authority reports that the number of tourists has dropped by 6 per cent compared to the previous year. Only 26,000 persons came to the island from January to April of this year. Although the cost of selling the island of Lanai is unknown, Maui News estimates it at the value of a deal of 500 to 600 million dollars - a theft.