STUNNED BY DRE:
When you’re worth $36 billion you can buy anything you want, nothing is off limits. Some billionaires like to live modestly and some like to live up to the size of their bank accounts. Larry Ellison is one of the latter. The founder and CEO of Oracle has reached an agreement with Hawaiian officials to buy the island of Lanai famous only because Bill Gates had his wedding there back in 1994. His plans for the island are not immediately known, but he will now add landlord to his resume.
The news of Ellison’s investment came as a relief to local businesses and residents, as rumors had swirled that Lana’i current major property owner, billionaire David Murdock, would close the island’s two Four Seasons resorts if he couldn’t sell his stake in the island. Dupree said that possibility “created instability” on Lana’i, where 70 to 80 percent of the jobs come from those resorts. “If that happened, half the businesses on the island would be done. We go as the hotels go.”