oracle chief buys hawaiian island
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Larry Ellison's multi-million dollar investment

Oracle chief buys Hawaiian island

Arab Today, arab today

Arab Today, arab today Oracle chief buys Hawaiian island

Oracle boss Larry Ellison
Los Angeles - AFP

Oracle boss Larry Ellison Oracle boss Larry Ellison has bought a Hawaiian island from a fellow multi-billionaire businessman, the governor of the US Pacific Ocean state said. Ellison, co-founder and chief executive officer of the tech giant, has purchased 98 percent of the 141 square mile (365 square kilometer) island of Lana'i from its owner Castle & Cooke, governor Neil Abercrombie said on Wednesday.
Castle & Cooke, a Los Angeles-based company headed by businessman David Murdock, filed a transfer application with Hawaii's Public Utilities Commission, said a statement posted on the governor's website.
"It is my understanding that Mr. Ellison has had a long standing interest in Lana'i," Abercrombie said. "His passion for nature, particularly the ocean, is well known, specifically in the realm of America's Cup sailing.
"He is also a businessman whose record of community involvement in medical research and education causes is equally notable. We look forward to welcoming Mr. Ellison in the near future," he added.
The price paid by the Oracle chief was not specified, but the island state's Star Advertiser newspaper quotes Castle & Cooke as saying it was hundreds of millions of dollars.
The seller added that Ellison plans to bring new investment to Lana'i that should boost tourism and create jobs on the island, which includes two resort hotels and a golf course, among other facilities.
"The buyer anticipates making substantial investments in Lana'i and is looking forward to partnering with the people of Lana'i to chart the island's future," the company said, according to the paper.
Lana'i was formerly known as Pineapple Island, but Murdock has had bumpy relations with some residents over his uprooting of the pineapple industry in favor of resort and housing developments, it said.
California-based Ellison's net worth is estimated at $36 billion by Forbes magazine, which ranks him sixth in its global rich list, while Murdock's is somewhat lower, at $2.7 billion, sharing 442nd place.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

oracle chief buys hawaiian island oracle chief buys hawaiian island

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

oracle chief buys hawaiian island oracle chief buys hawaiian island

 



GMT 10:06 2012 Saturday ,28 July

Querrey advances at ATP LA Open

GMT 21:15 2017 Thursday ,01 June

Trump condemns deadly Kabul explosion

GMT 02:15 2017 Thursday ,24 August

Is your country on the Qatar free entry list of 80?

GMT 19:48 2016 Monday ,03 October

Controversial boxing champ Tyson Fury retires

GMT 08:20 2015 Tuesday ,08 December

PC market woes show no sign of easing

GMT 17:27 2017 Tuesday ,25 April

20 Yemeni soldiers killed, injured in explosion

GMT 11:52 2017 Saturday ,30 December

OIC condemns Mar Mina Church attack

GMT 00:03 2017 Saturday ,25 March

Arab Meeting to Examine Anti-Corruption Methods

GMT 13:12 2017 Thursday ,20 April

Deputy premier meets Arab League chief

GMT 14:13 2014 Friday ,10 January

Opel Astra GTC

GMT 18:27 2016 Tuesday ,02 August

Turkish Foreign Minister arrives in Islamabad

GMT 11:27 2016 Tuesday ,13 December

Saudi woman arrested for challenging social norms
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday