Oracle's Ellison to buy, invest in Hawaii's Lanai

HONOLULU (AP) — Oracle Corp. CEO Larry Ellison is closing in on a purchase even lottery winners can only dream about — 98 percent of Hawaii's pineapple island, Lanai.
Ellison hasn't said what he plans to do with the vast majority of the island's 141 square miles, but the sellers said he 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.
Attempts to reach Ellison through Oracle after business hours Wednesday were not successful. Ellison's involvement in the deal was publicly announced by Hawaii Gov. Neil Abercrombie.
With nearly 50 miles of coastline, two resorts and zero traffic lights, Lanai boasts plenty of unspoiled charm. Tourism officials tout the luxury at its Four Seasons hotels and rugged rural areas that can only be reached by vehicles with four-wheel drive.

Oracle CEO Larry Ellison buys Hawaii's sixth-largest island

HONOLULU, Hawaii (Reuters) - Billionaire Oracle CEO Larry Ellison bought 98 percent of Hawaii's sixth-largest island, Lanai, the state's governor announced on Wednesday.
Ellison, ranked in 2012 as America's third-richest man, is purchasing the property from fellow billionaire David Murdock. Murdock's Castle and Cooke Inc, which owns all but 2 percent of Lanai's 141 square miles (365 square km), filed a transfer application with Hawaii's Public Utilities Commission.
Previous media reports put the price tag at between $500 million and $600 million, but the price was not revealed in Wednesday's filing.