How did Oracle owner Larry Ellison get so rich?

[SirStev0]

pretty much spelled out by everyone above me.

 

[Wreckem]

A somewhat regular sized estate on Maui on the coast goes for ~40 million. On Lanai, I would imagine it to be about the same. Now, think of how many coastal estates are or CAN be on that many acres. It wouldn't take much for just the land alone from those estates to hit 500-600 million.

Now, it is also my understanding that on Hawaii, specifically Maui that almost nobody "owns" their land. They are handed out in 99-year leases from the government (in this case, the "County" of Maui, under the "State" of Hawaii). To give this guy ownership of the land is a huge, huge feat.

Perhaps there are specifics to the land that is not specified or that has yet to be laid out, because 500 mil for that entire island is chump change compared to what it is really worth.

It's pretty common for people to just go out and buy huge amounts of land when they get money, but this really takes the cake.

I don't know whether to be sad or be happy. I'm definitely sad for the people of Hawaii, but I hope he can spruse the place up, make it more energy efficient and environmentally friendly. Maui has been trashed in recent years with only certain areas of it under government control such as La Perouse Bay or Haleakala National Park to be left (relatively) untouched.

Actually that is not quite accurate. The majority of land in Hawaii is in private hands and in fee simple. Private in fee ownership is not rare. In the 1950s-70s 5 corporations used to own a majority of all the land in Hawaii. Today, a large chunk of Hawaiian land is still only owned by a handful of people/corporations. Even though Hawaii tried to redistribute it via eminent domain in the 1980s. There are still leaseholds, but leaseholds aren't as common as they were. There are still govt owned leaseholds, but those are leased to people with 50% Hawaiian ancestry at a hugely subsidized rate.

Ellison was just purchasing the land in fee simple from the Corporation/Person that has held it for the past 25 years or so. Lanai has been owned in fee simple by a variety of people and companies since the King of Hawaii divided the land into private ownership in the mid 1800s.

 

[GT1999]

Actually that is not quite accurate. The majority of land in Hawaii is in private hands and in fee simple. The majority of the private land is owned by a handful of people/corporations. There are still leaseholds, but leaseholds aren't as common as they were. However, there are still govt owned leaseholds leased to people with 50% Hawaiian ancestry.

Ellison was just purchasing the land in fee simple from the Corporation/Person that has held it for the past 25 years or so. Lanai has been owned in fee simple by a variety of people and companies.

Thanks for clearing that up, my point remains though that he is making a killing off of this deal. I know a few people who have leased/bought land on Maui, so that's how I got that determination. Their houses are about 3 mil or so in Wailea, Maui.

 

[KentState]

Hell, Oracle just purchased a huge web platform (ATG) and on-site search engine (Endeca) as well. A large number of the top 100 retail sites use those products individually or together. I know it was a little discerning dealing with Oracle after the purchase. Trying to get support with Endeca was like pulling teeth and required hours of contract negotiation.

 

[Deeko]

And I'm pretty sure Microsoft is in Seattle

Sure are. I believe there's an office in Pioneer Square and one somewhere near South Lake Union.

 

[Attic]

Ya i read he just dropped half a B on a island by Hawaii.

Man is a baller, I bet he bought that island just to nail some girl he met a week ago in a cool place.