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Thursday, 12 July 2012 18:18

Videos: Billionaire Larry Ellison Buys Island

Forbes' reporters Morgan Brennan and Claire O'Connor discuss the Oracle CEO Larry Ellison's most recent investment: Lanai, the 6th largest Hawaiian island. Ellison, the founder of Oracle Corp., has agreed to buy 98% of the island of Lanai from David Murdock, a Los Angeles billionaire who controls Dole Food Co. and many other businesses under Castle & Cooke Inc. According to documents filed with Hawaii's Public Utilities Commission, the purchase will include two resort hotels and two golf courses with clubhouses. The sale price has not been disclosed, but local observers value the deal at more than $500 Million. Enjoy.

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