Oracle's Larry Ellison Acquires 98% Ownership of Lanai Hawaiian Island
For the majority of Americans, when a fabulously wealthy person buys a private island, the eye-rolling is so severe that is causes widespread migraines. Thus, one’s knee jerk reaction to hearing via the Wall Street Journal that Oracle’s CEO Larry Ellison just dropped $300 million to acquire 98% ownership of Hawaii’s Lanai island is more of the same. However, there’s more to the story.
Image credit: WSJ
According to the report, Ellison has more in mind for the 141 square mile island than luxurious vacationing. True, he’s planning an “ultraluxury” hotel, but he’s also planning to bring back commercial agriculture, build a sustainability laboratory, develop a massive desalination plant to pump 10 million gallons of fresh water to the island every day, and generally improve the welfare and employment of the island’s 3,100 or so denizens. He also wants to see the island population increase to closer to 6,000.
Image credit: WSJ
Other ideas include sustainability such as solar power, as well as renovated domiciles for workers, rehabbed parks and downtown businesses, and exporting products such as pineapples and handmade perfumes.
It still sounds a bit like Ellison has bought himself a billionaire’s playground, but at least he wants his playground to respect the people that live there, the history of the island, and the land itself.
Image credit: WSJ
According to the report, Ellison has more in mind for the 141 square mile island than luxurious vacationing. True, he’s planning an “ultraluxury” hotel, but he’s also planning to bring back commercial agriculture, build a sustainability laboratory, develop a massive desalination plant to pump 10 million gallons of fresh water to the island every day, and generally improve the welfare and employment of the island’s 3,100 or so denizens. He also wants to see the island population increase to closer to 6,000.
Image credit: WSJ
Other ideas include sustainability such as solar power, as well as renovated domiciles for workers, rehabbed parks and downtown businesses, and exporting products such as pineapples and handmade perfumes.
It still sounds a bit like Ellison has bought himself a billionaire’s playground, but at least he wants his playground to respect the people that live there, the history of the island, and the land itself.
