Oracle CEO Larry Ellison buys Hawaiian island

Oracle's mercurial CEO Larry Ellison has just completed one of his more remarkable purchases. Namely, an island.

Lanai, Hawaii's sixth-largest island and home to 3,200 people, is now all but under the tech tycoon's control after he agreed a deal to buy 98% of the land. It had previously been owned by fellow American David Murdock through his company Castle & Cooke, but a fee likely to be around $550 million (approximately £350 million) has seen the ‘Pineapple Island' change hands.

Eye watering sums indeed, but perhaps not such a big deal when you're the planet's sixth wealthiest man. And in a world where such a sum could only get you half of Instagram.

Governor of the State of Hawaii Neil Abercrombie confirmed the move, saying, "It is my understanding that Mr Ellison has had a long standing interest in Lanai. 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."

In a battle of the billionaires, it was rumoured that a certain Bill Gates was also interested in buying Lanai when Murdock announced plans to sell, so Ellison may well be claiming a victory of sorts over a tech rival now he has his hands on the 365 square km, that boasts several luxury resorts.

It wouldn't be the first time Ellison revelled in one-upmanship, after the Oracle boss opened a Twitter account earlier this month, seemingly just to mock his competitors at SAP. The tweet, "Oracle's got 100+ enterprise applications live in the #cloud today, SAP's got nothin' but SuccessFactors until 2020", remains his only contribution to the micro-blogging site to date.