Next time you have some extra cash lying around, why not use it to buy a tropical island? 98% of Lanai, the sixth largest island in the Hawaiian chain, was just sold to the sixth richest man on Earth.
How does this affect you? Well, if you happened to be aiming for Hawaiian island ownership sometime in the next few years, let’s just say that it will take more than a few pineapples to barter a deal. Oracle CEO, Larry Ellison, reportedly forked over roughly half a million big ones to long-time owner and head of Dole Food Company, David Murdock.
Lanai is home to a couple of five-star Four Seasons resorts, amongst other residential and commercial infrastructure, but hold on – it gets more interesting.
Here’s a breakdown of the island’s geography:
* The land area totals ~141 square miles
* Roughly 3,000 people call Lanai “home”
* At one point in time, 75% of the world’s pineapples were grown on the island
* There is one school: Lanai High and Elementary School
* There are two golf courses; both were designed by professional golfers
* There are NO traffic lights
* 400 of its ~430 miles of roads are unpaved
* Many of the island’s most spectacular spots can only be seen by four-wheel drive
Struggling with tourism, it is speculated that Ellison may provide economic stimulation to draw in more people to Lanai. Or, maybe he’ll just keep it for himself. That’s what being a billionaire is all about, right?
- Oracle CEO Larry Ellison buys Hawaiian island of Lanai, reportedly for $500-600 million (theverge.com)
- Oracle’s Ellison Buys Hawaiian Island of Lanai (pcmag.com)
- Oracle chief buys Hawaiian island (bbc.co.uk)