Billionaire Oracle boss Larry Ellison buys Hawaiian island
San Francisco - Billionaire Oracle boss Larry Ellison has bought a Hawaiian island, the governor of the US state said late Wednesday.
Ellison is now the owner of 98 per cent of the island of Lana’i,Governor Neil Abercrombie said in a statement. "We look forward to welcoming Mr Ellison in the near future," he added. The state owns the other 2 per cent.
Ellison, estimated by Forbes magazine to be the United States’third richest man, with a fortune of 36 billion dollars, is believed to have paid between 500 and 600 million dollars.
The island’s previous owner, Castle and Cooke, owned by billionaire David Murdock, had put it up for sale last year. The company had owned it since 1985.
Lana’i is the smallest of Hawaii’s populated islands, with a population of 3,100. Before it became a tourist destination, it was better known for its pineapple plantations.//DPA