California billionaire buys Hawaiian Island

Larry Ellison (6th richest in world, net worth $36 billion) is now owner of Lana'i (Hawaii's 'Pineapple Island').

Photo below of Larry Ellison, founder and CEO of Oracle Corporation who purchased 98 percent of Hawaii's Pineapple Island Lana'i for an undisclosed sum, but sources put its worth at hundreds of millions of dollars. (Photo: Kimihiro Hoshino/AFP) 

Satellite photo above of the Hawaiian Islands and below a map of where the small island of Lana'i is located.

Click button to listen to Larry Ellison Buys Lana'i to download

ARTS & CULTURE

Larry Ellison of Oracle buys Hawaiian island

Oracle CEO has major investments planned for Lana'i, including new resort hotels and a golf course
By Agence France-PresseThu, Jun 21 2012

LOS ANGELES — Oracle boss Larry Ellison has purchased a Hawaiian island from a fellow multi-billionaire businessman, the governor of the U.S. Pacific Ocean state said.

Ellison, co-founder and chief executive officer of the tech giant, has purchased 98 percent of the 141 square mile (365 square kilometer) island of Lana'i from its owner, Castle & Cooke, Gov. Neil Abercrombie said on June 20.

Castle & Cooke, a Los Angeles-based company headed by businessman David Murdock, filed a transfer application with Hawaii's Public Utilities Commission, said a statement posted on the governor's website.

"It is my understanding that Mr. Ellison has had a long-standing interest in Lana'i," Abercrombie said. "His passion for nature, particularly the ocean, is well known, specifically in the realm of America's Cup sailing."

"He is also a businessman whose record of community involvement in medical research and education causes is equally notable. We look forward to welcoming Mr. Ellison in the near future," he added.

The price paid by the Oracle chief was not specified, but the island state's Star Advertiser newspaper quotes Castle & Cooke as saying it was hundreds of millions of dollars.

The seller added that Ellison plans to bring new investment to Lana'i that should boost tourism and create jobs on the island, which includes two resort hotels and a golf course, among other facilities.

"The buyer anticipates making substantial investments in Lana'i and is looking forward to partnering with the people of Lana'i to chart the island's future," the company said, according to the paper.

Lana'i was formerly known as Pineapple Island, but Murdock has had bumpy relations with some residents over his uprooting of the pineapple industry in favor of resort and housing developments, it said.

California-based Ellison's net worth is estimated at $36 billion by Forbes magazine, which ranks him sixth in its global rich list, while Murdock's spot is somewhat lower, at $2.7 billion, sharing 442nd place.

Copyright 2012 AFP Global Edition.

(Source: Bangkok Post, ARTS & CULTURE, Larry Ellison of Oracle buys Hawaiian island, Oracle CEO has major investments planned for Lana'i, including new resort hotels and a golf course, By Agence France-PresseThu, Jun 21 2012, link) 

Billionaire Hawaiian Island Owner Vocabulary

Lana'i island - the sixth-largest of the Hawaiian Islands with about 3,000 people living on the island: "It is also known as Pineapple Island because of its past as an island-wide pineapple plantation. The island's only settlement to note is the small town of L?nai City... Many of the island's landmarks are reached by dirt roads that require a four-wheel drive vehicle... There is one school, Lanai High and Elementary School, serving the entire island from kindergarten through 12th grade. There are no traffic lights on the island" (See Wikipedia)

Hawaii Islands - a long chain of eight large and many smaller islands in the Pacific Ocean which became the 50th US state (See Wikipedia)

ocean - one of the large areas of salt water that cover most of the earth: Pacific Ocean, Atlantic Ocean, Indian Ocean, etc (See Wikipedia)

Pacific Ocean - the largest ocean in the world separating the US from Asia (See Wikipedia)

Larry Ellison - "the co-founder and chief executive officer of Oracle Corporation, the third wealthiest American citizen, with an estimated worth of $36.5 billion. The bulk of Ellison's fortune comes from his 22.5 percent stake in Oracle" (See Wikipedia)

Oracle Corporation - a US computer company best-known for its database software, has the third-largest software revenue after Microsoft and IBM, founded in 1977 by Larry Ellison, employs around 113,644 people worldwide (See Wikipedia)

Larry Ellison of Oracle buys Hawaiian island

Oracle CEO
Oracle boss Larry Ellison

Chief Executive Officer (CEO) - the highest level manager or officer in a company or organization, reports to the Board of Directors which makes high  level policy and decisions for the organization (See Wikipedia)

executive - the highest level managers in a company
officer - a high level person in an organisation with special responsibilities

Castle & Cooke - "a Los Angeles-based company that was once part of the Big Five companies in territorial Hawaii. The company at one time did most of its business in agriculture including becoming through mergers the modern Dole Food Company, the world's largest producers of fruits and vegetables. In 1996 it was spun off from Dole and today most of the company's business is in real estate and residential, commercial, and retail development" (See Wikipedia)

investments - using money to make more money (a profit or earn interest) (examples: buying and holding stock shares, bonds, property) (See Wikipedia)

Oracle CEO has major investments planned for Lana'i, including new resort hotels and a golf course

undisclosed - without telling people, not reported publicly ไม่เปิดเผย
sum - an amount of something, especially money จำนวนเงิน

undisclosed sum - did not say how much money it was

BIG SPENDER: Ellison, pictured in 2011, purchased 98 percent of Hawaii's 'Pineapple Island' for an undisclosed sum, but sources put its worth at hundreds of millions of dollars.

fellow - used for talking about people who are similar to you or are in the same situation เพื่อนร่วมชะตากรรม
multi - many
a fellow multi-billionaire businessman

state - US state, the United States has 50 states (similar to Thai provinces) (See Wikipedia)
governor - the chief executive and political leader of a state in the US (See Wikipedia)

the governor of the U.S. Pacific Ocean state said

Oracle boss Larry Ellison has purchased a Hawaiian island from a fellow multi-billionaire businessman, the governor of the U.S. Pacific Ocean state said.

founder - a person who creates (establishes, founds) a business or organization ผู้ก่อตั้ง
co-founder - a person who creates an organization with other people

Ellison, co-founder and chief executive officer of the tech giant, has purchased 98 percent of the 141 square mile (365 square kilometer) island of Lana'i from its owner, Castle & Cooke, Gov. Neil Abercrombie said on June 20.

company headed by ... - company lead by ..., managed by ...

transfer - 1. change ownership to another person โอน; 2. to move someone or something from one place, vehicle, person or group to another ย้าย
transfer application - made an official request to transfer something 

filed - to take official action ยื่นฟ้องร้อง
filed a transfer application

Castle & Cooke, a Los Angeles-based company headed by businessman David Murdock, filed a transfer application with Hawaii's Public Utilities Commission, said a statement posted on the governor's website.

it is my understanding that ... - I am not sure but I think that ...

long-standing interest - interested for a long time in this subject
a long-standing interest in Lana'i

nature - non-man made things such as trees, forests, mountains, animals, the sea, fish. etc (See Wikipedia)

passion - a strong enthusiasm or interest ความชื่นชม หลงใหล
passion for nature

particulary ...  - especially ... , and even more true for ...
passion for nature, particularly the ocean 

specifically ... - in an exact and detailed way

in the realm of - in the area of ..., in this activity ...

sailing - the sport of moving about the ocean in a boat with sails using the wind as power (See Wikipedia)
America's Cup - the most important sailing competition in the US between two large sail boats (yachts) that began in 1851 (See Wikipedia)

"It is my understanding that Mr. Ellison has had a long-standing interest in Lana'i," Abercrombie said. "His passion for nature, particularly the ocean, is well known, specifically in the realm of America's Cup sailing."

community - local people, all the people who live in a local area or place ชุมชน
involvement - doing some activity with other people (not just watching it happen) (example: the owner was actively involved in running the business)

community involvement - being involved in community activities, doing things with other people in the local area

record - 1. has done something many times (and written evidence exists); 2. writing something that happens down so people will know in the future
a record of community involvement

research - detailed studies of some subject to discover new facts
medical research - detailed studies to find new cures and treatments for diseases

a cause - an goal, idea or organization that helps people in need which people support
education causes - goals in education to help people in need

notable - interesting and different so people notice
equally notable  

"He is also a businessman whose record of community involvement in medical research and education causes is equally notable. We look forward to welcoming Mr. Ellison in the near future," he added. The price paid by the Oracle chief was not specified, but the island state's Star Advertiser newspaper quotes Castle & Cooke as saying it was hundreds of millions of dollars.

investment - taking your money and putting it into projects to make a profit or earn interest (buying stock shares, bonds, real estate)
bring new investment to Lana'i

boost - to increase; to strengthen เพิ่ม; ทำให้มีกำลังมากขึ้น
boost tourism - increase tourism

facilities - the buildings, equipment and services provided for a particular purpose สิ่งอำนวยความสะดวก สถานที่และสิ่งอำนวยความสะดวก

The seller added that Ellison plans to bring new investment to Lana'i that should boost tourism and create jobs on the island, which includes two resort hotels and a golf course, among other facilities.

anticipates ... - believes it will happen in the future ...

substantial - in a large amount or degree
substantial investments - large and important investments

looking forward to ... - is planning to do in the future (and thinks it will be fun and enjoyable) ...
partnering with - doing some activity or business with another person or company

chart - to plan วางแผน
chart the islands' future

"The buyer anticipates making substantial investments in Lana'i and is looking forward to partnering with the people of Lana'i to chart the island's future," the company said, according to the paper.

bumpy - not smooth; involving both failures and successes ไม่ราบรื่น
bumpy relations

residents - people who live in a particular place or area ชาวบ้านในบริเวณ ผู้อาศัยในบริเวณ ผู้อยู่อาศัย

roots - the part of a plant that is under the ground ราก
uproot - ending the life of something, destroying it (pulling a plant out by its roots and destroying it)
uprooting of the pineapple industry - ending the pineapple industry

Lana'i was formerly known as Pineapple Island, but Murdock has had bumpy relations with some residents over his uprooting of the pineapple industry in favor of resort and housing developments, it said.

net worth - a measure of the financial value of a company or person equal to total assets minus current liabilities (debts that must be paid back within a short time) (See Wikipedia)

high net worth individual - a very rich person (See Wikipedia)

global - throughout the world ทั่วโลก
Forbes global rich list - Forbes business magazine in the US publishes a list of the richest people in the world each year (See Wikipedia)

spot on a list - position on a list: 1st, 2nd, 3rd ....

California-based Ellison's net worth is estimated at $36 billion by Forbes magazine, which ranks him sixth in its global rich list, while Murdock's spot is somewhat lower, at $2.7 billion, sharing 442nd place.