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Oracle The Almighty Buck Idle

Larry Ellison Buys His Own Hawaiian Island 398

Posted by samzenpus
from the volcano-base dept.
First time accepted submitter nrozema writes "Oracle co-founder and billionaire Larry Ellison is buying the Hawaiian island of Lana'i, the sixth-largest island in the U.S. archipelago. Hawaii Gov. Neil Abercrombie confirmed in a written statement that the current landowner filed a transfer application with the state's Public Utilities commission Wednesday to sell its 98 percent share of the 141-square-mile island to Ellison."
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Larry Ellison Buys His Own Hawaiian Island

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  • by Bloody Bastard (562228) on Thursday June 21, 2012 @08:12AM (#40396603)

    ....tsunamis could be a good thing.

  • Uh-oh. (Score:5, Funny)

    by RevWaldo (1186281) on Thursday June 21, 2012 @08:14AM (#40396617)
    Larry Ellison also owns a MIG fighter jet. This cannot be good.

    .
    • Re:Uh-oh. (Score:5, Funny)

      by stevencbrown (238995) on Thursday June 21, 2012 @08:21AM (#40396657) Homepage Journal

      And he looks like Hank Scorpio!

      All we need is oracle to open up a germ warfare division, though think he'll have to settle for the western seaboard rather than the eastern, if he's based in Hawaii?

      • by CastrTroy (595695)
        +1 trillion if I had mod points.
      • by wed128 (722152)

        And he looks like Hank Scorpio!

        Agreed! I never noticed it before, thanks for pointing it out!

    • Re: (Score:2, Funny)

      by Anonymous Coward

      Does he own a fluffy white cat and a Nehru jacket?

      • Exactly. This is how Bond villains get their secret lairs started. Although they're usually less evil than Ellison, at least at the beginning.
    • Re:Uh-oh. (Score:5, Insightful)

      by Anonymous Coward on Thursday June 21, 2012 @08:40AM (#40396813)

      I'm not one of those idiots who whines and bitches about how someone makes more money than other people and how they should somehow give it all back to them or something. However, it's strange thinking that I've worked here for fifteen years and the biggest purchase of my life is my $200k house that I'll be paying off until I die . . . while my boss/CEO is buying fighter jets, billion dollar yachts, appearing in Iron Man 2, buying massively expensive houses all over the place, and buying a 141sq mile Hawaiian island. It's kind of demoralizing to realize that Larry probably spent more in this one purchase than every single person *combined* in my entire division will earn (after taxes) in three or four life-times. Or as much as I would earn in take-home if I continued working from today until the year 17,000.

      • by Rei (128717)

        The free market treats people the same way it treats commodities. Gold isn't just little bit more expensive than iron, it's *hugely* more expensive. Supply and demand apply just the same to people's salaries as they do to precious metals.

        People can choose to accept that as a fundamental truth which we must accept (aka, libertarianism) or as something which it's fair to remedy (or must be remedied) by government action (aka, varying degrees of socialism blended with a market economy). It depends on wheth

      • the majority of us do.

        The real difference between us and "them" is many of them are never satisfied with where they are in life and forever seek to improve upon it. Let alone except in very amazing cases the majority of these people spend the end of their life with the wealth. The internet revolution did spawn a lot of people with enough youth to enjoy their wealth longer.

        See my tag, compare your achievements to your goals, never compare yourself to another. You can set a goal to have/do what they are doing

      • Re:Uh-oh. (Score:5, Insightful)

        by fearofcarpet (654438) on Thursday June 21, 2012 @10:42AM (#40398127)

        I'm not one of those idiots who whines and bitches about how someone makes more money than other people and how they should somehow give it all back to them or something. However, it's strange thinking that I've worked here for fifteen years and the biggest purchase of my life is my $200k house that I'll be paying off until I die . . . while my boss/CEO is buying fighter jets, billion dollar yachts, appearing in Iron Man 2, buying massively expensive houses all over the place, and buying a 141sq mile Hawaiian island. It's kind of demoralizing to realize that Larry probably spent more in this one purchase than every single person *combined* in my entire division will earn (after taxes) in three or four life-times. Or as much as I would earn in take-home if I continued working from today until the year 17,000.

        I am one of those idiots. Not because we shouldn't award innovation and hard work, but because your boss/CEO is getting richer at your expense. I know that the libertarians around here like to say that free markets lead to meritocracy, but it just isn't the case. Your wages, my wages, and 99% of people on Slashdot have stagnated over the past 30 years. Instead, we are supposed to "earn" money by investing in a house. How has that worked out? Gen X, the generation to which I happen to belong, has lost around 40% of its wealth since the housing bubble burst. But Larry Ellison is buying a Hawaiian island. Where did that money come from? Thin air? Where did our lost wealth go? Thin air? No, of course not. It never existed except as debt on a bank balance sheet. And now that the debt has gone bad, we get to pay to de-leverage banks. The economy is zero sum. We can collectively only increase our wealth by the amount that the economy grows each year. Likewise, when the economy shrinks, we must collectively shed wealth. But somehow Larry gets rich when the economy grows and gets richer when it shrinks. That is the policies of the government actively transferring wealth from you and I to Larry Ellison so that he can buy a f***ing Hawaiian island during a prolonged, global economic contraction that has turned home ownership into Russian roulette for the rest of us. And it will continue like this until perception and reality [motherjones.com] converge.

        Also, WTF does one person need with an entire Hawaiian island? Or a fighter jet? Why do we allow one person to accumulate so much wealth that they have to find new, unnecessary extravagances to blow it on while the rest of us can barely afford to educate our kids? Shouldn't there be some level of comfort that we allow the middle class to achieve before letting people like Larry Ellison skip ludicrous and go straight to plaid? Right now it seems that we have to wait for the benevolent "job creators" to toss some coin our way, but not until there is "more certainty" in the markets. Fortunately for us there are still enough billionaires to buy the White House for someone that understands their plight.

        • Re:Uh-oh. (Score:5, Interesting)

          by istartedi (132515) on Thursday June 21, 2012 @12:58PM (#40400137) Journal

          I see the Libertarian and Republican view of money as being analagous to Newtonian physics and relativity.

          From the right PoV, money is a measure of hard work, perhaps talent; but no more. In every day life that makes sense. Money looks like a fair measure. Now, how much talent and hard work can you have? How much money can you have? By definition, nobody can have more than 100% of the money. That's like the speed of light. Just as in physics, non-Newtonian things start happening as you approach the speed of light.

          The first sign that you have "relativistic money" is that you have un-earned income. For most of us this is a very small thing (interest, maybe some dividends). Faster, faster... you are going fast enough to live on your un-earned income. Faster still... you seek to protect your sources of income by currying favor with local politicians. Faster, FASTER. You seek national laws that work in your favor. FASTER, FASTER, RUN--for high office, or else enter the space-time continuum of those who hold high office. Attend $30k/plate dinners as a matter of routine. Effectively make policy, which feeds back into the hyperdrive of your ever accelerating fortunes.

          Close to the monetary speed of light, the Newtonian world of talent and hard work are of minimal impact, whereas for most of us the relativistic impact of unearned income and influence are negligible, or just a dream.

      • Just think of it this way to feel worse - Ellison's worth, divided by the number of employees at Oracle, is over 300k per person.
    • by tnk1 (899206)

      He's already more powerful than the Mexican Air Force!

  • NON-EVENT ... at all !!!

    Thank you, whoever posted this thing.
    Really.
    It was so important to rellay this non-information ... that I wonder what my day could have been if I hadn't received it.

  • by Anonymous Coward on Thursday June 21, 2012 @08:23AM (#40396667)

    Old story here [nwsource.com]

  • Units (Score:5, Insightful)

    by Thanshin (1188877) on Thursday June 21, 2012 @08:23AM (#40396671)

    the 141-square-mile island

    I can't comprehend that size. Could we have the area in asteroid passing distances? Earth radiuses works too.

    • by ph0rk (118461)
      How about 2.06 Districts of Columbia?
    • Re: (Score:2, Funny)

      by Anonymous Coward

      the 141-square-mile island

      I can't comprehend that size. Could we have the area in asteroid passing distances? Earth radiuses works too.

      I beleive that the scientific unit for area is football field.

    • by goodmanj (234846)

      This is not a small island. It's roughly the size of Manhattan, Brooklyn, and Queens put together, or the Isle of Wight.

  • With these billionaires also starting their own private space programs too, all we need is a suave british agent and a hot local chick going to raid the compound threatening megalomaniacal schemes

    "do you expect me to talk?"

    "no mr. bond, I expect no SQL to this movie, I expect you to join that table with this collate, and then drop"

  • The title reads like it is a little misleading to me... The way I read it was in the context that he bought an island he already owned (which would not surprise me). I don't know why the /. editor who posted this thought it wouldn't be interpreted this way though... (or why I'm the first to comment on it?)

    Surely: "Larry Ellison buys Hawaiian Island" would have sufficed?

    While I might not have studied journalism, I did have a job as a journalist for about a year (as well as being made editor of some smaller
    • It's bad grammar to be sure, but is a common speech construct (in the US). Some people might say "I bought my own car" or "I bought my own house". The meaning is that they bought it for themselves, as opposed to "I bought my mom a house". So the title is basically saying he bought the island for his own use, as opposed to buying it for someone else, for the company, etc.

  • I thought the Hawaiian royal family owned all the land and you only rented the land from them and paid a yearly land rent.
    • At least one other major island, Ni'ihua, is privately owned after being purchased from the Kingdom of Hawai'i in 1864.

  • by AbominousSalad (1774194) <nhawks AT gmail DOT com> on Thursday June 21, 2012 @08:52AM (#40396955)

    Next year's follow-up story - Oracle secedes, and couches itself as fully as possible in its total reality distortion field.

    Then it sues Greece for having had oracles 2000 years ago.

  • by bitt3n (941736) on Thursday June 21, 2012 @08:59AM (#40397019)
    "Good news! I have just sold one of our islands for half the proceeds from Oracle's upcoming multi-billion-dollar lawsuit against Google! Even if they get only half what they're asking, we will make a killing. I promise a hula hoop around every midriff!"
  • Why is it that I feel a lot better about Richard Branson buying an island or David Copperfield buying an island than I do this jackass? When PeopleSoft was still an independent company I used to work there. Best job I ever had. Then Ellison decides to buy it and the whole culture changes. People, including me, are leaving in droves. Couldn't work there. Wouldn't work there. Ellison is the biggest douchbag on the face of the earth.
  • I hope there is a fucking Volcano on the island and it erupts.
    Then I hope someone throws Larry into it.

  • What does 'owning' an Island actual mean? Is it part of the state of Hawaii and thus the USA?

    Can Larry declare independence, make the island an international tax haven, issue its own currency and move Oracle's head office outside US jurisdiction?

    Or is it more just he's now the owner of a pineapple plantation with 3000 worker slaves?

  • by Assmasher (456699) on Thursday June 21, 2012 @09:24AM (#40397295) Journal

    ...prevent stuff like this.

    It should be decided by Hawaiians what happens to Hawaii - and I assure you they wouldn't want some megalomaniacal (sp?) asshat with all that power over their lives.

    • by niado (1650369)

      ...prevent stuff like this.

      It should be decided by Hawaiians what happens to Hawaii - and I assure you they wouldn't want some megalomaniacal (sp?) asshat with all that power over their lives.

      The island just passed from one megalomaniac billionaire to another. It was previously owned by David Murdock [wikipedia.org] (via his real estate holdings company, Castle & Cooke [wikipedia.org]).

      The particular island in question [wikipedia.org] seems to have been almost-wholly owned by super-rich landholders for ~150 years.

  • by rs79 (71822) <hostmaster@open-rsc.org> on Thursday June 21, 2012 @09:51AM (#40397547) Homepage

    So he can finally make money off Java.

  • by PPH (736903) on Thursday June 21, 2012 @11:09AM (#40398485)

    ... I welcome our Dharma Initiative overlords.

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