Business, Economics and Jobs

Oracle CEO Larry Ellison buys most of Lana'i


A Four Seasons property on Lana'i.

Oracle CEO Larry Ellison is buying himself a piece of paradise. And he's paying cash, according to the LA Times

The billionaire is buying 98 percent of Lana'i, the 141 square mile island which hosted Bill Gates' wedding. 

Ellison has long been fond of Lana'i, the San Francisco Chronicle said. Ellison is a nature buff with a passion for America's Cup sailing. He's also got a lot of money and likes to support local community's, so naturally the island is happy to see him, too.

“We look forward to welcoming Mr. Ellison in the near future,” KHON quoted Hawaii's governor as saying. 

The LA Times said Hawaii is expecting new jobs and new tourism opportunities as a result of Ellison's big purchase. 

The sale price hasn't yet been disclosed, but it's likely pretty hefty. Ellison's part of the island comes with two Four Seasons Resorts, two championship golf courses and a whole lot of land that used to grow pineapples, Pacific Business News said

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