Larry Ellison, head of technology titan Oracle, has purchased the Hawaiian island of Lanai.
The cost of the deal wasn't disclosed but the 365-square-kilometre island had an asking price ranging between $500-million and $600-million, according to Maui News.
The island, home to 3200 residents and several resorts, was previously owned by billionaire David Murdock, with his company, Castle & Cooke Hawaii, losing $40-million a year, the BBC reported.
The company owns hotels, golf courses, the water utility and plenty of other businesses on Lanai.
Ellison is sixth on the Forbes list of billionaires around the world.