The world’s sixth-richest man is taking ownership of 98% of the island of Lanai for a cool nine-figure sum.
Larry Ellison once lost out on buying the NBA’s Golden State Warriors after bidding a reported $450 million, but it looks like the Oracle CEO will get a nice consolation prize: a Hawaiian island. Technically, the island of Lanai won’t be entirely owned by the billionaire — Ellison will own about 98 percent of its 141 square miles, according to a statement by the state Governor’s office relayed by multiple outlets.
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So, how much does a Hawaiian island go for these days? Since the terms of the deal reportedly weren’t disclosed, the numbers being bandied about are $500 million to $600 million, according to the Maui Times, or simply “hundreds of millions of dollars” according to Bloomberg. A Forbes staff writer thinks this is in the running for being one of the priciest transactions for an island.
However you cut it, it’s a significant chunk of change. But not for Ellison. According to the Forbes and Bloomberg lists of the world’s richest people, his estimated net worth sits at a staggering $36 billion, which makes him the sixth wealthiest man on earth.
“It is my understanding that Mr. Ellison has had a long standing interest in Lana’i,” said the Governor of Hawaii, Neil Abercrombie, in the statement. “His passion for nature, particularly the ocean is well known specifically in the realm of America’s Cup sailing.”
Yes, NewsFeed would venture that passion for all-things ocean related would definitely be expected of a guy who once owned one of the world’s largest yachts.