Larry ellison to buy hawaiian island

[enzo1]

Larry Ellison, the billionaire chief executive of Oracle Corp., was identified Wednesday as the buyer of the bulk of the Hawaiian island of Lanai.

The deal to buy 98% of the 141-square-mile island was disclosed by the state's governor, Neil Abercrombie, who cited a transfer application that owner Castle & Cooke Inc. filed with the Public Utilities Commission.

Lanai, which is nine miles off the coast of Maui, is the smallest inhabited island in Hawaii that is publicly accessible. It has long been controlled by billionaire David Murdock—who also controls Castle & Cooke and who is known for closing the island's original pineapple plantations to make way for development.

The island boasts resorts and golf courses. But it still is considered relatively unspoiled—taking pride in the absence of stoplights—and is believed to be an unprofitable investment for Mr. Murdock.

The Maui News reported that the asking price for the property was between $500 million and $600 million. Representatives for Castle & Cooke and Mr. Ellison couldn't be reached.

Mr. Ellison, 67 years old, is the third-richest person in the U.S., according to Forbes, with a fortune estimated at more than $30 billion. Most of that wealth comes from his stake in Oracle, the software company that he co-founded in 1977.

He isn't shy about spending his money. Mr. Ellison has bankrolled a sailing team—which won the most recent America's Cup with a giant trimaran—and has led an effort to bring that event to San Francisco in 2013.

Mr. Ellison owns several opulent houses, including a traditional Japanese-style estate in Woodside, Calif., and is known for purchases including a yacht large enough for a basketball court, a fighter jet and a tennis tournament. More recently he has sought to buy a professional basketball team.

So far, he hasn't shown much interest in real-estate development, and some residents see Lanai as a place that is too quiet for many tourists. "It is my understanding that Mr. Ellison has had a long standing interest in Lanai," Mr. Abercrombie, the governor, said in a statement. "His passion for nature, particularly the ocean is well known specifically in the realm of America's Cup sailing."

Corrections & Amplifications
Lanai is the smallest inhabited island in Hawaii that is publicly accessible. An earlier version of this article incorrectly called it Hawaii's smallest inhabited island. Niihau, which requires permission to visit, is smaller.

[BlueSkyJaunte]

[GH85Carrera]

My brother went to Lani in 1968 back when it was owned by Dole. We lived in Hawaii at the time. The entire island was a pineapple plantation. The only flight there was on the mail airplane. You had to get permission from Dole to go there. The only people there were employees of Dole and there was no hotel or regular stores.

He went to hunt the deer and wild goats & pigs. Since they tore up the pineapples Dole was happy to let hunters shoot them.

[Geary]

My friends and I paddle canoes over from Maui once a year or so to camp, surf, and fish on one of the secluded beaches. 600M is a deal.

[island911]

Originally Posted by Geary

.. 600M is a deal.

+1

I've been there a few times, including earlier this year. It's one quiet island.

I do hope that Ellison doesn't change any significant access.

[hayabusafiend]

I went there as a kid in 1979 when my dad was stationed at the Honolulu Coast Guard station.

Dole was still there running a huge pineapple planatation. The air smell was a bit wierd due to the packing plant. I remember the smell clearly. Ever steamed pineapple? That's the smell.

It was beautiful then.

Dad tells me stories that Union labor made costs too high, so Dole left Lanai.

I went back in 2000 and it's largely barren. Portions of Lanai look like Mars.

[stealthn]

Yes it was between him and Gates, Ellison won. Gates did rent the entire island whn he got married.

Knowing Larry, the iland will be coverted to a Japanese/buddist/wackjob fantasy land...

[motion]

If I had that kind of coin, I'd buy Lanai, too. And, I'd live in a shack on the beach and eat ahi poke 3 times a day.

[RWebb]

I hear he will either use it for a giant kart track or a butterfly sanctuary.

[Shuie]

Go Larry!

[vash]

Originally Posted by motion

If I had that kind of coin, I'd buy Lanai, too. And, I'd live in a shack on the beach and eat ahi poke 3 times a day.

this^^!!

money can buy happiness!

i would eat poi and poke, until i was sick of it..

[HardDrive]

Originally Posted by motion

If I had that kind of coin, I'd buy Lanai, too. And, I'd live in a shack on the beach and eat ahi poke 3 times a day.

It seems like you've sorted out whats important. Well said.

[syncroid]

I side with Motion. Can't be a bad thing.

[cmccuist]

That sounds like a good plan... For about two weeks. Then the stifling boredom sets in.

[GH85Carrera]

Originally Posted by cmccuist

That sounds like a good plan... For about two weeks. Then the stifling boredom sets in.

I would not make it more than 4 days with that kind of boredom.

Hawaii is a beautiful wondrous place especially if you have lots of money. I got island fever even in the days of no job, free room and board and access to nice beaches.

Different strokes for different folks.

If I had a spare 1/2 billion I would buy Lanai as well. But I would just come to visit and check on things.

[azasadny]

I would buy Toledo Ohio! (just kidding)...

[scottmandue]

Originally Posted by motion

If I had that kind of coin, I'd buy Lanai, too. And, I'd live in a shack on the beach and eat ahi poke 3 times a day.

And a dock with a fishing boat... and a stage on the beach where I could invite the locals over for a jam session once a week.... and a brewpub... maybe a winery... a man has to have hobbies!

[tevake]

I kind of see it from the perspective of the folks that have lived there for generations .
In the plantation days there were some very special lifestyle qualities that existed, friendliness, gentle, peaceful, non material, lots of fishing, hunting, playing music, living very close to the land. Then Murdock bought Lanai and really remade the place.
Now this? I think that the folks used to see it as their island.
I too have fond memories of visits to Lanai back in the day. Especially surfing with the guys that would cheer each other into waves, and me too:-)
They shut down the only good anchorage on the island when the hotel at white manelie (sp) was being planned.
I don't know, guess it never was their island, and the old timers probably thought the plantation sucked.

Cheers Richard

[scottmandue]

Well, yeah... there is that whole we stole the land from the natives thing...

That is the big thing keeping me from moving to Hawaii... the native people hate us... and they should.

better yet buy the island and give it back to the people... now that would be something!

[chicago_82sc]

Who owns the other 2%?