The island of Lanai starts a new chapter with Oracle's Larry Ellison at the helm
It's no secret anymore, the deal has closed, and Lanai has a new owner.
There's plenty of talk about Lanai being sold by David H. Murdock who had acqcuired the Hawaiian island in 1985. The new owner is billionaire Larry Ellison of Oracle fame, said to be worth around $36 billion. Ellison will own 98 percent of the island's 141 square miles. Lanai is part of Maui County, in the state of Hawaii.
The price is rumored to be above $500,000,000 and closer to $600,000,000. It's not so much the actual real estate, but more about the company and the assets involved since the island was turned into a destination resort.
Included in the sale are:
- The Four Seasons Resort Lanai at Manele Bay
- The Four Seasons Resort Lanai - The Lodge at Koele
- 2 championship golf courses
- Kaumalapau Harbor
- over 88,000 acres of land
- See a slideshow of what's included in the sale.
- Lanai Sale Complete - Castle & Cooke retain Windfarm
- Hawaii likely won't collect conveyance tax from sale
- Slideshow of Lanai, Maui County, Hawaii