Oracle CEO Larry Ellison buying Hawaiian island of Lanai - Pacific Business News
I keep waiting for someone to tell the press "I, for one, welcome our new billionaire [-]overlord[/-] landlord." But not yet.
This could actually be a good thing if Ellison wants to continue the conservation that the island has struggled with since pineapple & sugarcane shut down. Many residents are up in arms about a proposal to build huge photovoltaic and windmill farms on the island to send power to Oahu via submarine cable. At least this way the island will probably avoid residential & commercial development, although it remains to be seen how the power-supply part will work out.
But I'm sure that Ellison will land his jet on the island any ol' time he wants to...
Billionaire Larry Ellison, founder and CEO of Oracle, has signed an agreement to purchase 98 percent of the Hawaiian island of Lanai from fellow billionaire David Murdock, according to documents filed with the Hawaii Public Utilities Commission.
According to the documents, filed Tuesday with the PUC, the sale includes the two resort hotels — the Four Seasons Resorts Lanai at Manele Bay and the Four Seasons Resorts Lanai, Lodge at Koele — two championship golf courses and club houses, The Experience at Koele and The Challenge at Manele and more than 88,000 acres of land.
The price was not disclosed, but previous estimates put the price around $500 million.
I keep waiting for someone to tell the press "I, for one, welcome our new billionaire [-]overlord[/-] landlord." But not yet.
This could actually be a good thing if Ellison wants to continue the conservation that the island has struggled with since pineapple & sugarcane shut down. Many residents are up in arms about a proposal to build huge photovoltaic and windmill farms on the island to send power to Oahu via submarine cable. At least this way the island will probably avoid residential & commercial development, although it remains to be seen how the power-supply part will work out.
But I'm sure that Ellison will land his jet on the island any ol' time he wants to...