Larry Ellison Scoops Up Historic Hotel Lanai

(Lanai, HI) -- Oracle billionaire Larry Ellison is now the owner of the historic Hotel Lanai. The co-founder of Oracle also owns 98-percent of Lanai. The former owners of the ten room hotel told the "Business Journal" the property changed hands earlier this month. The hotel also has a cottage and a restaurant. The purchase price of the transaction was not disclosed.