These Are The Billionaires Buying Hawaii
Forbes・3 minutes read
37 billionaires in Hawaii collectively own over 218,000 acres of land, with some notable owners like Oprah Winfrey, Larry Ellison, and Mark Zuckerberg, contributing to tensions with locals over affordable housing and land ownership issues. Oprah Winfrey donated $10 million to the people's fund of Maui after wildfires, while Larry Ellison's purchase of 97% of Lanai for $300 million led to the establishment of luxury hotels and a wellness retreat on the island.
Insights
- The concentration of land ownership in Hawaii is significant, with 37 billionaires collectively owning more than 5% of the state's total land, raising concerns about the implications for local communities and affordable housing.
- Notable billionaires like Oprah Winfrey and Larry Ellison have made substantial land acquisitions in Hawaii, with Winfrey donating to community causes and Ellison developing luxury properties, sparking debates over the balance between philanthropy and potential displacement of locals.
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Who are some billionaires owning land in Hawaii?
Oprah Winfrey, Larry Ellison, Steve Case, Mark Zuckerberg, and Frank Vander slute.
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Summary
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"Hawaii's Billionaire Land Ownership Controversy"
- 37 billionaires in Hawaii own over 218,000 acres, which is more than 5% of the state's total land and 11% of non-government owned land, with some of the most prominent being Oprah Winfrey, Larry Ellison, Steve Case, Mark Zuckerberg, and Frank Vander slute.
- Oprah Winfrey, who owns nearly 1300 acres on Maui, purchased an additional 850 acres for $6.4 million, contributing $10 million to the people's fund of Maui after wildfires, while Larry Ellison bought 97% of the island of Lanai for $300 million, setting up a wellness retreat and luxury hotels, leading to tensions with locals over affordable housing.
