Oracle's Larry Ellison Buys a Hawaiian Island

CEO spends upwards of $600 million for state's sixth largest island.

By Sajid Farooq
|  Thursday, Jun 21, 2012  |  Updated 3:40 PM PDT
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Oracle's Larry Ellison Buys a Hawaiian Island

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Oracle CEO Larry Ellison wrote a big check to purchase a Hawaiian island.

When you're one of the world's richest men you don't simply travel to a Hawaiian island for vacation, you simply buy one.

Oracle CEO Larry Ellison has reportedly spent up to $600 million to purchase Lanai, Hawaii's sixth largest island.

State Gov. Neil Abercrombie announced Wednesday that the world's sixth richest man will own 98 percent of the 141 square mile island.

The cost of the undisclosed deal is estimated to be between $500 to $600 million.

Ellison purchased the island from 89-year-old billionaire David Murdock, who owns the Dole company.

The high price of the island won't put a huge dent in Ellison's $36 billion estimated worth. Forbes reports that the purchase for the Oracle co-founder is the equivalent of "a family with a $1 million net worth buying a used Chevy Impala: $15,000."

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