Lana’i, Hawaii has a new owner.

21 Jun

I thought I would write a quick post in case you missed the latest news…  Lana’i, Hawaii’s sixth largest island, has a new owner. Oracle Corporation’s CEO Larry Ellison purchased 98% of the 141 square mile island yesterday for a reported $500 – $600 million. This sum is a drop in the bucket for Mr. Ellison who is the world’s sixth richest man (No. 3 in America) with a reported $36 billion dollar fortune. David Murdoch, owner of Castle & Cooke (selling party), stated that he [Larry Ellison] “plans substantial investments that will create jobs and stimulate tourism to the island once owned in the 1920s by the founder of Dole Foods Co.” The deal involves 88,000 acres of land, two resorts (one of which is the Four Seasons), two golf courses, a stable,  and various residential and commercial buildings on Lana’i city.

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2 Responses to “Lana’i, Hawaii has a new owner.”

  1. Anonymous June 21, 2012 at 8:24 am #

    Nice digs!

  2. las artes June 28, 2012 at 9:08 am #

    The land’s current owner, Castle & Cooke Inc., filed a transfer application Wednesday with the state’s public utilities commission, which regulates utilities on the island that serve its two resorts.

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