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Billionaire Buys An Island

Author: Bill Barnett. Category: Real Estate. Posted: 21st Jun 2012

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Billionaire Larry Ellison of Oracle has bought one of the Hawaiian islands.

Press reports are rife with the story; the he has acquired 98% of the island of Lanai, with the US state owning the remaining 2%.

According to Forbes Ellison has a net worth of over USD36 billon and is the third richest person in the US.

Market sources are reporting the transaction was over USD500 million.

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