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PBN confirms amount billionaire Larry Ellison paid for Hawaiian Island of Lanai

March 3, 2016 By Mark G. Howard Leave a Comment

Billionaire Larry Ellison paid $300M for the Hawaiian island of Lanai,

Billionaire Larry Ellison paid $300M for the Hawaiian island of Lanai,

One of the most widely-publicized real estate sales in recent memory in Hawaii, which involved Oracle Corp. co-founder Larry Ellison’s purchase of nearly the entire island of Lanai, hasn’t had a clear price attached to it — up until now.

It has been speculated by many that the price Ellison paid was somewhere in the range of hundreds of millions of dollars, even up to $500 million.

The third-richest person in the United States — Forbes puts his current net worth at $44.2 billion— has told Julian Guthrie, author of the 2013 book “The Billionaire and The Mechanic: How Larry Ellison and a Car Mechanic Teamed Up to Win Sailing’s Greatest Race, the America’s Cup,” that he paid $300 million for 98 percent of Lanai in 2012.

PBN has now confirmed, through public documents, that Ellison did indeed pay $300 million for the 141-square-mile Pineapple Island.

The sale included the two resort hotels — the Four Seasons Resorts Lanai at Manele Bay and the Four Seasons Resorts Lanai, Lodge at Koele — two championship golf courses and club houses, the Manele Golf Course and the Koele Golf Course, and more than 88,000 acres of land.

The seller, Los Angeles billionaire businessman David Murdock, took control of Lanai, the sixth-largest island in Hawaii by acreage, in 1985 as a result of his purchase of Castle & Cooke. The state and others own 2 percent of the island.

Meanwhile, Ellison is selling his controlling interest in his Hawaii interisland airline, Island Air, to a couple of Honolulu investment funds.

His Four Seasons Resort Lanai at Manele Bay, which closed this past summer for extensive renovations, is scheduled to reopen as the Four Seasons Resort Lanai and will begin taking reservations and opening on Feb 1. Koele, which has been closed to the public to house construction workers, will open in late 2016.

Duane Shimogawa
Reporter
Pacific Business News

 

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Filed Under: Blog, Featured Blog, General Real Estate Tagged With: Celebrity home, Celebrity Homes, Larry Ellison, luxury, Luxury Estate, Luxury Experiences, Luxury Home, Luxury Homes, Luxury Living, Luxury Mansion, luxury real estate, Luxury Villa, LuxuryHomes, LuxuryHomes.com, Mansion, Million Dollar Estates, Million Dollar Home, Most expensive, Ocean View, Oracle Corp, Penthouse

eBay founder Pierre Omidyar is Hawaii’s richest person, Forbes says

June 5, 2015 By Mark G. Howard Leave a Comment

Pierre Omidyar, founder of eBay, is seen in this 2011 photo at one of his other

Pierre Omidyar, founder of eBay, is seen in this 2011 photo at one of his other

Pierre Omidyar, founder and chairman of eBay, who lives in Honolulu and has a net worth of $8.1 billion, is the richest person in Hawaii, according to Forbes magazine.

The 47-year-old billionaire Hawaii resident, who also is a co-founder of Honolulu Civil Beat, ranks No. 168 on the 2015 billionaire’s list in the world and is pegged at No. 58 in the United States.

Forbes, which created a list of the richest person in all 50 states, lists other billionaires with Hawaii ties, including Oracle Corp. founder Larry Ellison, who a few years ago, purchase 98 percent of the Hawaiian Island of Lanai for a reported $300 million.

The 70-year-old tech titan, who has a net worth of $54.6 billion, is the richest person in California, as well as the third richest person in the U.S. and is fifth on Forbes’ 2015 billionaires list.

In October, Hawaii real estate mogul Jay Shidler was listed as the richest person in Hawaii, with an estimated worth of $700 million, by Wealth-X, which tracks the wealthiest people in the world. That list also ranked Ellison as the richest person in California.

Duane Shimogawa
Pacific Business News

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Filed Under: Blog, Featured Blog Tagged With: Celebrity home Honolulu, Celebrity Homes Honolulu, eBay, Jay Shidler, Larry Ellison, Luxury Estate Honolulu, Luxury Experiences Honolulu, Luxury Home Honolulu, Luxury Homes Honolulu, Luxury Honolulu, Luxury Living Honolulu, Luxury Mansion Honolulu, luxury real estate Honolulu, Luxury Villa Honolulu, LuxuryHomes Honolulu, LuxuryHomes.com Honolulu, Mansion Honolulu, Million Dollar Estates Honolulu, Million Dollar Home Honolulu, Most expensive Honolulu, Ocean View Honolulu, Oracle Corp, Penthouse Honolulu, Pierre Omidyar

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