It's so great to hear about companies and bosses who continue to pay their employees when their businesses are shut down due to the COVID-19 pandemic. Billionaire Larry Ellison is one of those people, at least when it comes to the Hawaiian island of Lanai, which he owns. Back in 2010, he bought 98% of the island for $300 million and has been known ever since as a benevolent landlord to the people and businesses of Lanai. He's furthering that reputation by paying the full wages and benefits for the workers on his island while many of its businesses are shut down.
Lanai is the smallest inhabited island in Hawaii. It was once known as The Pineapple Island due to its origins as a pineapple plantation. In 1922, James Drummond Dole was a young Harvard graduate living in Oahu running his fledgling pineapple business. That year, Dole paid $1.1 million for the land and just like that, an entire island was taken over by Dole pineapple. Dole plowed the island's interior into fields, built roads, and a harbor, and laid out a quaint town in the center of the island with Dole Park in the middle.
Lanai is one of the most secluded spots in Hawaii, featuring gorgeous quiet beaches, hiking towns, and one small town – Lanai City – which is so small it doesn't even have a traffic light. The island spans just 140 square miles and is home to 3,200 people. Ellison owns the hotels on the island, the water company, the main supermarket, the cemetery, and about a third of the housing on Lanai. He is also negotiating to buy the island's electric grid.
| Detail | Information |
|---|---|
| Name | Larry Ellison |
| Purchase Year | 2010 |
| Island Ownership | 98% of Lanai |
| Purchase Price | $300 million |
What You Will Learn
- Larry Ellison's commitment to supporting employees during tough times.
- The historical significance of Lanai as a pineapple plantation.
- The impact of Ellison's ownership on the local community and economy.
- Current status of the island during the COVID-19 pandemic.
Ellison has also reduced or eliminated the rent for all of the businesses on the land he owns. He is paying the wages of the employees that work for the businesses he owns on the island. There's no word as to whether or not Ellison will extend the wages, benefits, and canceled rent for May, too. Ellison owns the Hotel Lanai, the Four Seasons Resort Lanai, and the Four Seasons Hotel Lanai at Koele, a Sensei Retreat, which are the only three hotels on the island. They are all closed temporarily, and a skeleton security crew is keeping them somewhat operational.
Of all the properties and businesses on the island, only a handful are not owned by and don’t pay rent to Ellison. This includes the gas station, two banks, a credit union, a rental car company, and a café. He also owns Dole Park – the central common square at the heart of the city, along with all the buildings around it. He possesses the community center, the town swimming pool, the theatre, the grocery store, two golf courses, the water company, a wastewater treatment plant, and the island's cemetery. He owns 87,000 acres of Lanai's total 90,000 acres.
One resident of Lanai has tested positive for COVID-19 after being exposed in Maui. Fortunately, that person is hospitalized in Maui, so the virus has not yet reached Lanai.
