I thought it was pretty cool when Larry Ellison bought 98% of Lanai, a smaller island off the coast of Maui. It is relatively undeveloped, with two Four Seasons hotels and a lot of pineapple plantations. And he got it for a song — only $300 million after an initial asking price of $1.2 billion! Now you can read more about what he’s doing with it in a Wall Street Journal article on Ellison’s new “Fantasy Island.”
Certainly, if I were a billionaire, buying Lanai would be on my list of priorities. (Right after buying a lifetime supply of athletic socks so I never have to wear the same pair twice.) I’m surprised Ellison waited this long. Maybe he, too, has a fresh sock fetish. But I think what’s even cooler is the amount of time and money he’s investing in the island. When you own such a large portion of something so big, you have some big responsibility to keep things running well. So far the news suggests he understands the scope of his new challenge.
