In one of the hottest business news announcements this morning on CNBC, it was reported that the majority of land on the Hawaiian Island of Lania has been sold by Castle and Cooke's David Murdock.
In a deal estimated at between $500 and $600 million, the buyer is the CEO of Oracle Corporation in Redwood City, Larry Ellison, who is estimated to be worth around $35 billion, and is listed by Forbes as the 6th richest man in the world.
Although Murdock says change is inevitable, there is speculation that the housing market's dying in the U.S. could have been one reason for the sale at this time. Murdock plans to keep his home there in Lanai.
No comments:
Post a Comment