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.

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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48Comments
Jun 21, 2012 2:56PM
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He's been divorced four times.  Money can buy ALMOST anything.
Jun 21, 2012 3:59PM
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and what does it profit a man if by gaining the whole world he loses his soul.
Jun 21, 2012 4:17PM
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January 17, 1893 - the day Hawaiian Monarch Queen Lili`uokalani yielded her throne, UNDER PROTEST, to the superior forces of the United States. Those forces snookered into backing a handful of U.S. businessmen who's names dominate the Islands landscape today.

 

Commonly referred to as the "Bloodless revolution", she did so to avoid bloodshed.

Queen Lili`uokalani was counting on the United States to do right this wrong - they never did.

 

While President Grover Cleveland acknowledge that the occupation by U.S. forces was illegal, he and the United States didn't do nothing about it. Still, he's considered somewhat of an ally until this day.

 

The best the Hawaiians got was an apology from then President Clinton. Meanwhile, Hawaiians are prisoners on their own land, a huge representation in the homeless population, and an over-representation in the prison population. Otherwise, mostly living in poverty.

 

We have to go back to January 17, 1893 when talking about "ownership" of anything to do with these Islands. And this is the single fact that remains: the United States currently occupies the Kingdom of Hawaii ... illegally ... I might add.

 

It is what it is.

Jun 21, 2012 3:50PM
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Ah yes, we are told we should be grateful for someone with a ton of money being able to spend it on whatever they want despite the current economic climate in our country. Goes to show you what hard work and determination can do for someone.

So okay, let him have his island and play with it too. But I do want to know what King Larry paid in taxes the last 10 years, what tax rate that works out to, and what taxpayer-provided entitlements he's taken advantage of over the years to accumulate his wealth - just to ensure he's earned his island reward on his own and not at taxpayer expense.

You know, to prove he's truly achieved the American Dream the old-fashioned way - that he's earned it on his own.

Jun 21, 2012 4:56PM
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We'll be reading about our comrades from China buying the big island of America soon too.
Jun 21, 2012 5:31PM
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A man who mocks God should enjoy his toys...because he can't take them with him when the end comes...
Jun 21, 2012 5:14PM
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Seems like everyone is gearing up for the end of the world. Politicians don't care what their constituants think. The american news reporters only cover fluff and entertainment news. political reporting, just editorials being passed off as news. Now we have another example of where all the money goes. We are still living on the reganomics "trickel down theory". He claimed that if we made the corporations incredibly wealthy, and the rich, the super-rich. When they finally had enough money, they would trickel down some of the money to We the People. I am still waiting for the trickel of money to begin. Everyone say Thank you, Mr. President.
Jun 21, 2012 2:29PM
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OMG who cares????In one million years, what will happen to his island?
Jun 21, 2012 3:04PM
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Those darn unions are just draining the economy dry.  lol
Jun 21, 2012 4:10PM
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So what if he buys an island, maybe he'll buy California next and we won't need a budget!
Jun 21, 2012 6:06PM
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This was private property.  It was sold from one individual to another.   What is the

difference here other than size with the huge amounts of Montana that have been

purchased by billionaires, or in any other U.S. state.  Do you want to preclude

the right of land ownership in the U.S.  Granted it does give a lot of credence

to why you should raise the tax rates on the super rich.

Jun 21, 2012 3:06PM
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WOW LARRY, CAN YOU AFFORD MY LUNCH TODAY.. TUNA FROM HAWAII, AND COCONUT MILK.. WHEN THE ENGINE OF AMERICA GETS ROBBED (MIDDLE CLASS, LEGAL, TAX PAYING WORKERS). PEOPLE GET TO BUY ISLANDS, WELL, OFF TO WORK TO TRY AND PAY MY MORTGAGE ON TIME THIS MONTH.. HAVE FUN LARRY..

Jun 21, 2012 4:03PM
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This guy is making wayyyyy toooooo muuuuucccchhhhhh MONEY!  That is the reason his products are overpriced and his workers not paid enough!  If he has that kind of money laying around then he realy needs to lower his and his companies profit margins and increase the payroll and taxes paid.  That is crazy!  And you wonder why phones, cable tv, and such are soo expensive?  So the con artist CEO's can rip off the company to the tune of 100+ mill a year and buy politicians!
Jun 21, 2012 5:05PM
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This guy is beyond grossly overpaid.  What he is doing is criminal.  Oracle's dividend to shareholders is less than a quarter per share, .84%!  What a joke.  This guy is not worth paying more than $10 million per year.   

 

Karma being what it is, I'm going to guess that someday soon he'll get his.

 

BTW, is there any doubt that this guy wants to keep the "Bush tax cuts"?  lol

Jun 21, 2012 4:01PM
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The headline to this story is incorrect..."And it doesn't get more impressive than an entire island." He did not buy an ENTIRE island, he just bought 98% of the island. I'll say that I'm not impressed, because it is much easier than admitting jealousy :-).

Jun 21, 2012 3:29PM
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Why do you all hate someone who has something you do not? STOP blaming your problems on anyone who is better off tham yourself!
Jun 21, 2012 6:33PM
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To all you whiners who gave me a thumbs down on my previous post: You must be liberals who think the world owes you because you're "special". Let me give you a little advice, You're not special and the world doesn't owe you anything. Your jealousy of anyone who succeeds and your entitlement mentality is sickening.
Jun 21, 2012 5:35PM
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this guy earned it so i say knock yourself out and buy whatever you want, i earn my money and buy what i want within my means to, the people who are crying about this are the people who feel they deserve something for nothing or atleast think living on the government tit is ok, this guy is a success and spend it how ever he feels like on what he feels like-oh wait everyone deserves the same rite, the guy who sits on the couch and smokes dope all day  should get the same paycheck as me who works 80+hours a week to support my family, keep voting for obumer and this is exactly what we will have come on people you can not be this stupid
Jun 21, 2012 5:05PM
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To all you whiners on here: If you want more money, do something to get it instead of hating on those who did. YOU are what's wrong with this country, not people who suceed.
Jun 21, 2012 5:19PM
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Geeez!  Where is Robin Hood when you need him?!  I love how the Internet and Media throw this stuff in our faces and make us (me anyway) feel like a total loser!   Shouldn't the typical consumer ask why there's such a thing as inflation and should the typical worker ask why they can't make a decent wage or get a cost of living increase?!  We better not, somebody probably won't have his own private island.  I feel sorry for Hawaii as America and Japan took it away from the real natives and their ancestors.  
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