Larry Ellison is investing in Lanai, Hawaii, Gov. Neil Abercrombie announced to the public yesterday. While Ellison doesn’t have plans for the pineapple island, he has said that he will create jobs and stimulate tourism. Currently there are only two resorts on the island, no traffic lights, and tons of open space. Lanai is home to 3,200 residents and Ellison will be purchasing 98 percent of it.
David Murdock, owner of Castle & Cooke, Inc. and current owner of Lanai, said that he’s been looking for the right buyer with enthusiasm, commitment and respect for the island’s residents. According to Abercrombie, Ellison apparently fits the bill perfectly with his passion for nature and his involvement in America’s Cup sailing.
Murdock says that he’ll be keeping his own home on Lanai (perhaps the two percent that Ellison won’t be purchasing) and will have rights to building a huge wind farm which will be able to deliver energy to Oahu.