What do you do when you've got $500 million to spare? Get an island.
Bill Gates and Larry Ellison are interested in buying the same one, according to rumors floating around Hawaii.
Billionaire David Murdock wants to sell the island of Lanai, Hawaii's sixth-largest by acreage, and potential buyers could include the Microsoft founder and the Oracle CEO, Pacific Business News reported. The island, which may be worth more than $500 million, is expected to be sold soon.
Gates and his wife, Melinda, rented the island (the whole island, mind you) for their marriage in 1994, and Ellison has a home on Lanai.
Lanai is owned by Murdock, who in 1985 took control of it as a result of his purchase of Castle & Cooke. The state owns 2 percent of the island.
As an avid follower of real estate transactions involving prominent figures and an enthusiast with a deep understanding of the subject matter, it's essential to highlight the context and evidence surrounding the potential acquisition of the island of Lanai in Hawaii.
Firstly, the credibility of this information is rooted in reports from reputable sources such as Pacific Business News. These reports indicate that billionaire David Murdock is considering selling Lanai, Hawaii's sixth-largest island, making it a topic of interest for high-profile individuals like Bill Gates and Larry Ellison.
Let's delve into the key concepts mentioned in the article:
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Lanai, Hawaii's Sixth-Largest Island:
- Lanai is an island located in Hawaii, and it holds the distinction of being the sixth-largest in terms of acreage.
- The uniqueness of Lanai lies in its ownership structure, predominantly controlled by David Murdock since 1985.
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David Murdock's Ownership:
- David Murdock gained control of Lanai in 1985 through the acquisition of Castle & Cooke.
- This ownership structure implies that Murdock is in a position to sell the island, which has garnered attention from potential buyers like Bill Gates and Larry Ellison.
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Potential Buyers:
- Bill Gates and Larry Ellison, both influential figures in the tech industry, are rumored to be interested in purchasing Lanai.
- Gates and his wife, Melinda, have a historical connection with the island, having rented it for their marriage in 1994. Ellison also has a residence on Lanai.
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Island's Appraised Value:
- The island is speculated to be worth more than $500 million, a substantial sum that adds to the allure of this potential transaction.
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Previous Connections:
- Bill Gates and Melinda Gates' previous rental of the entire island for their wedding in 1994 showcases a personal connection to Lanai.
- Larry Ellison's ownership of a home on Lanai further emphasizes the interest these billionaires have in the island.
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Ownership Structure:
- It's worth noting that while David Murdock is the primary owner, the state owns 2 percent of Lanai, adding a layer of complexity to any potential sale.
In conclusion, the convergence of these factors, supported by credible reports and historical connections, paints a vivid picture of the potential sale of Lanai and the interest it has garnered from high-profile buyers like Bill Gates and Larry Ellison.
