Larry Ellison to Buy Part of Hawaii
Hawaii Gov. Neil Abercrombie told the Associated Press that Ellison is in the process of purchasing 98 percent of the island of Lanai from its current owner, Castle & Cooke Inc. The sale price for the 141-square-mile island wasn't clear, but the Maui News previously reported that the asking price for the island was somewhere between $500 million and $600 million.
Naturally, both the current owner and Ellison were too busy taking over the world to take calls from the media yesterday.
But Abercrombie is pretty darn excited to have Ellison's name attached to the Aloha State.
"We look forward to welcoming Mr. Ellison in the near future," Abercrombie said. "His passion for nature, particularly the ocean, is well known, specifically in the realm of America's Cup sailing."
The AP reports that the deal includes 88,000 acres of land, two resorts, two golf courses, a stable, and a slew of residential and commercial buildings.
Ellison -- who has been deemed the sixth-richest man in the world -- plans to pay cash.