What Do You Buy the Man That has Everything?
Lanai is the 6th largest Hawaiian island measuring 141 square miles. It has a population of just over 3,000 people, with tourism the main industry.
A statement by the Hawaii governors office revealed that the Oracle boss has bought 98% of the island from previous landowner Castle & Cooke.
Billionaire David Murdock, the owner of Castle & Cooke, is selling the land because it costs him millions each year.
"We look forward to welcoming Mr. Ellison in the near future," Gov. Neil Abercrombie said in a statement. "It is my understanding that Mr. Ellison has had a long standing interest in Lana'i. His passion for nature, particularly the ocean is well known specifically in the realm of America's Cup sailing."
The island is popular with computer moguls, with Microsoft's Bill Gates getting married there in 1994.
So it seems that if you want to give a gift to a man that has everything, an island is the new benchmark.