Gina Smith: Larry Ellison Sells Jet, Buys Island, Retirement in Offing?

News flash. Oracle CEO and founder Larry Ellison bought 98 percent of the land in Lanai, the smallest and, some say, most exclusive of the Hawaiian Islands, reps announced today.

Photo Credit:  as selected for Google Earth  – ID: 9082184

News flash. Oracle CEO and founder Larry Ellison bought 98 percent of the land in Lanai, the smallest and, some say, most exclusive of the Hawaiian Islands, reps announced today.That’s a real switch for the fighter jet flying, world yacht racing daredevil billionaire. He recently sold an ultra rare and high end performance jet to a VC I know. Now he’s buying an isle? Really? Sounds like retirement.

Ellison bought Lanai for a half billion. The sale flew via Hawaii Gov. Neil Abercrombie, the official who announced the deal.

Billionaire David Murdock, owner of the land’s holder Castle & Cooke Inc., said he has begun the process to gain rights to build a Lanai wind farm, a controversial project. He is in talks with Ellison’s handlers and reps now in all likelihood.

The land’s owner, Castle & Cooke Inc., filed a transfer application with the state’s public utilities commission, which regulates utilities on the island that serve its two resorts. The name of the actual owner of the property for which Ellison is paying an estimate half billion dollars U.S. is as yet unavailable — Salesforce founder Marc Benioff, a long-time connection with Ellison, is a likely candidate. But we’ll see.

Ellison, founder of Oracle, is owner of the World Cup competition, races in it, also owns the world’s second-largest yacht and a number of other rare and powerful vehicles including fighter jets and race cars. An island is a departure. Recently single, he remains a major funder of work into anti-aging causes.

 

 

 

 

About the author

Gina Smith

Gina Smith is a New York Times bestselling author and an award-winning journalist. A former correspondent for ABC News, Gina is the co-founder and editorial director of aNewDomain Media. Email Gina at gina@anewdomain.net and find her on Twitter @ginasmith888

2 Comments

  • I assume Gina will be doing a follow-up piece shortly after visiting the island to tell readers what it is like and where the fountain of youth is located!