What do the ultra-ultra-rich do when they have some extra money lying around?
We argue a lot in this country about whether or not to raise taxes on the rich, but now one multimillionaire (multi-MULTI-millionaire) shows us what the ultra-ultra-rich do when they have some extra money lying about: He bought an island. And not just any island, oh no. A Hawaiian island! And not just like a bit of sand and rock protruding off the shore of Hawaii. Oh no. It's the sixth biggest Hawaiian island, filled with luxury hotels, golf courses, and mansions. It's called Lanai. And computer richie-rich Larry Ellison just bought it. Just went ahead and bought it!!!! Sigh.
Reports say he bought the island for around $600 million. Which is kind of a deal if you ask me. It's not exactly chump change to Oracle Corp. founder Ellison, who is reportedly worth $700 million (his net worth JUST dropped, but I'm sure he will be back to billionaire status soon enough!). But, hey, he'll have an island and have $100 million left over. I could live on that, couldn't you?
At 141 square miles, Lanai is Hawaii's sixth largest island and is the smallest publicly-accessible island. It was traditionally a pineapple plantation. He's buying it from the Dole fruit billionaire David Murdock. Apparently he outbid Bill Gates for the fantasy property. How do you outbid Bill Gates?!!
Other billionaires own islands -- Virgin billionaire Richard Branson's Necker Island is famous -- but to own a Hawaiian island is a quite a coup, even for the billionaire who has everything. Speaking of which, what on earth would you buy Ellison for his birthday? He already has a Hawaiian island!
But you can imagine all of the rude people who just want to drop by the island without even calling or making sure Larry didn't have other plans. That could get totally annoying. They're all, "Yo, Larry, I happened to be sailing by your island and thought I'd stop by, you around?" Freeloaders!
Check out Larry's new island. And, yo Larry, got a spare room this summer? I won't stay long, I promise!