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Oracle CEO Larry Ellison Buys Hawaiian Island of Lanai

Larry Ellison is a wealthy, wealthy man. How wealthy? Wealthy enough to drop hundreds of millions of dollars on his very own Hawaiian island. Late last night it emerged that Larry Ellison, CEO of Oracle Software, had just purchased Hawaii's sixth largest island, Lanai.

The news was revealed in a statement released by Neil Abercrombie, the Governer of Hawaii. Abercrombie revealed that Ellison purchased 98 percent of Lanai from landowner Castle & Cooke, which recently filed a transfer application with the Public Utilities Commision. Castle & Cooke sold its full 98 percent share of the island's 141 square miles to Ellison. The other two percent is thought to be owned by the state.

Landowner Castle & Cooke has filed a transfer application with the Public Utilities Commission.  Castle & Cooke owns 98 percent of the island’s 141 square miles. The buyer is Lawrence Ellison, co-founder and chief executive officer of Oracle Corporation.

"It is my understanding that Mr. Ellison has had a long standing interest in Lanai," Governer Abercrombie said in a statement. "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."

Lanai has a population of over 3,000 people. According to the San Francisco Chronicle, the residents find the the sale of the island a bit weird.

"It's kind of strange that in 2012, a medieval system of having one man own an island in the middle of the state, on which 3,000 people live, can still exist," Robin Kaye, a Lanai resident since 2005, told the paper. "It's very bizarre."

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