Oracle CEO buys a Hawaiian island
Larry Ellison has a passion for impressive, flashy toys. And it doesn't get more impressive than an entire island.
By Kim Peterson Jun 21, 2012 1:53PM
Larry Ellison loves to buy big, flashy items, and recently made one of his biggest purchases ever: a Hawaiian island.
The CEO of Oracle (ORCL) has bought 98% of Lana'I, the sixth-largest island in the state. Yes, this is how the 1% of the 1% live. The island is 140 square miles and has two luxury hotels and two golf courses.
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Ellison is the third-richest American, behind Bill Gates and Warren Buffett. He's worth $36 billion and he and loves to spend his money. He doesn't just own a boat, he owns an entire boat-racing team. He owns a fleet of airplanes. At one time, he owned a McLaren F1 supercar, of which only about 100 were made.
His personality is just as striking as his boats. He has a reputation for nastiness; someone actually wrote a book called: "The Difference Between God and Larry Ellison... God doesn't think he's Larry Ellison."
As much as this guy loves his toys, he takes real estate even more seriously, amassing a collection of trophy properties that include this stunner and one with its own hillside trolley.
It doesn't get more trophy than an entire island, though. The price isn't being disclosed, but the Maui News said its previous owner, David Murdock, was asking for between $500 million and $600 million. Murdock, 89, is chairman of Dole (DOLE) and was profiled in this New York Times piece.
The purchase will hardly make a dent in Ellison's bank account. Forbes says it's the equivalent of a family with $1 million in assets buying a used Chevy Impala for $15,000.
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The CEO of Oracle (ORCL) has bought 98% of Lana'I, the sixth-largest island in the state. Yes, this is how the 1% of the 1% live. The island is 140 square miles and has two luxury hotels and two golf courses.
Post continues below.
Ellison is the third-richest American, behind Bill Gates and Warren Buffett. He's worth $36 billion and he and loves to spend his money. He doesn't just own a boat, he owns an entire boat-racing team. He owns a fleet of airplanes. At one time, he owned a McLaren F1 supercar, of which only about 100 were made.
His personality is just as striking as his boats. He has a reputation for nastiness; someone actually wrote a book called: "The Difference Between God and Larry Ellison... God doesn't think he's Larry Ellison."
As much as this guy loves his toys, he takes real estate even more seriously, amassing a collection of trophy properties that include this stunner and one with its own hillside trolley.
It doesn't get more trophy than an entire island, though. The price isn't being disclosed, but the Maui News said its previous owner, David Murdock, was asking for between $500 million and $600 million. Murdock, 89, is chairman of Dole (DOLE) and was profiled in this New York Times piece.
The purchase will hardly make a dent in Ellison's bank account. Forbes says it's the equivalent of a family with $1 million in assets buying a used Chevy Impala for $15,000.
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