Oracle CEO Larry Ellison bought Hawaii's Sixth-Largest Island Lanai
Current Affair 2012. Oracle CEO Larry Ellison bought Lanai on 21 June 2012 to upshot new jobs, economic growth and promotes local tourism
Oracle CEO Larry Ellison bought Lanai on 21 June 2012. Lanai is the sixth- largest island of Hawaii’s. It was the biggest purchase of Ellison ever. The agreement would likely to upshot new jobs, economic growth and promote local tourism.
Lanai or Pineapple Island is smallest easy reachable Public Island. It is also known as the Pineapple Island because its previous owner Murdock runs pineapple operation. The operation was run to make the way for luxury resort and home development. There were around 3200 residents. The major area of the island was once owned by James Dole of Dole Food Company. He bought it in the year 1922.
The agreement involved 88000 acres of land, two resorts, two golf courses, a stable and many residential and commercial buildings. It involves utilities commission as well. The island is 140 square miles and has two luxury hotels and two golf courses. Ellison planned to make the payment by cash.
Ellison is the Founder & CEO of Oracle Corporation. Ellison is world's third-richest after Bill Gates and Warren Buffett and sixth-wealthiest man in the world. He has a net worth of 36 billion dollar. A yachting enthusiast, he won the America's Cup in 2010 and brought the 2013 America's Cup Finals to San Francisco. He owned his own boat-racing team, a team of airplanes and has McLaren F1 supercar.