Andre Seale/VW PICS/Universal Images Group via Getty Images; Noah Berger/Reuters
Summary List PlacementOracle billionaire Larry Ellison is making the Pineapple Island his full-time home.
Ellison revealed this week that he has moved to Lanai, Hawaii, amid the coronavirus pandemic. He plans to use "the power of Zoom to work" from the island, he wrote in an email to Oracle employees, who had been asking about Ellison's plans in the wake of Oracle moving its headquarters to Austin, Texas.
Ellison owns almost the entirety of Lanai: He purchased nearly 98% of the island in 2012 for a reported $300 million — his purchase included 87,000 of the island's 90,000 acres of land.
Lanai, which is home to about 3,200 residents, is the smallest inhabited island in Hawaii and is home to serene beaches, rugged terrain, high-end resorts, and Ellison's sustainability ambitions, which he's executing through a development company called Pulama Lanai.
Here's how Lanai came to be owned by Ellison and what he's planning for the island.
In June 2012, Ellison bought Lanai for an estimated $300 million. Prior to Ellison's purchase, the island was owned by billionaire Dole chairman David Murdock, who had reportedly been asking for $1 billion for the island.Douglas Peebles/Corbis via Getty ImagesSource: Pacific Business News, Forbes
Murdock became the owner of Lanai in 1985 after taking over Dole's parent company, Castle & Cooke. Prior to Murdock's ownership, the island was controlled by "Pineapple King" James Dole.Douglas Peebles/Corbis via Getty Images
Source: Forbes
The 141-square-mile island, which is eight miles off the coast of Maui, has zero traffic lights and few paved roads, according to Forbes. Compared with other Hawaiian islands, Lanai is secluded — but Ellison has plans to change that: He wants to turn Lanai into a tourist destination.NASA/Reuters
Source: Forbes, The New York Times
Lanai already boasts two Four Seasons-run hotels. The penthouse suite at the Four Seasons Hotel Lanai costs $21,000 per night, making it the most expensive suite in Hawaii.
Instagram Embed:
//instagram.com/p/Bx07L7EFBlp/embed
Width: 540px
Source: Pacific Business News
The island was also home to two golf courses when Ellison bought it, including Manele Golf Course. In 1994, prior to Ellison's ownership of the island, Microsoft cofounder Bill Gates got married at the 17th hole of the course.Brian Morgan/Popperfoto via Getty Images
Source: CNBC
See the rest of the story at Business Insider
See Also:
- Microsoft's $500 Xbox Series X is available today at Best Buy in limited quantities — here's where and how to buy the next-gen console
- The life and career of billionaire Oracle cofounder and international playboy Larry Ellison, who just announced he's leaving Silicon Valley for Hawaii
- Billionaire Oracle founder Larry Ellison has reportedly moved to the Hawaiian island he mostly owns, the latest high-profile departure from Silicon Valley