Dole Fruit Founder Sells The Last Of His Lanai Property To Oracle's Larry Ellison

If there's proof that a diet rich in fruits and vegetables is the key to a long life, former Dole Food owner David Murdock, now 101 years old, is it. When he sold the tiny Hawaii Island of Lanai to Oracle owner Larry Ellison for $300 million twelve years ago, he did so with one proviso – that he keep the 1-acre parcel where he had built an oceanfront vacation home, expecting to live out the remainder of his life in paradise on the island that once hosted one of the world's largest pineapple plantations. Murdock has been a pescatarian since 1985, eating a diet rich in fruits and vegetables, drinking several smoothies a day and, according to The New York Times, aims to live until 125.

Don't Miss:

• Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – Last Chance to get 4,000 of its pre-IPO shares for just $0.26/share!
• This Jeff Bezos-backed startup will allow you to become a landlord in just 10 minutes, with minimum investments as low as $100 for properties like the Byer House from Stranger Things.

Lanai's Life Of Luxury

However, according to The Wall Street Journal, Murdock is now putting the palatial estate on the market for $17 million. Although Lanai only has a population of 3,000 on its 140 square miles, it's synonymous with exclusive luxury. It hosts several private estates, a Jack Nicklaus-designed golf course and two Four Seasons hotels that Murdock developed, one of which is next to his 8,500-square-foot home, now on the market.

Despite his age, Murdock, a self-made billionaire, only used his Lanai residence as a vacation home, staying full-time in Lake Sherwood, Los Angeles. He started in the produce business relatively late in his career in 1985 when he bought Castle & Cooke, a Hawaii real-estate firm that owned Dole and most of Lanai. He took the company private twice in 2003 and 2013.

See Also: Commercial real estate has historically outperformed the stock market, and this platform allows individuals to invest in commercial real estate with as little as $5,000 offering a 12% target yield with a bonus 1% return boost today!

Murdock's Miraculous Journey

Murdock's net worth is estimated at $3.7 billion. His story is all the more remarkable. After serving in the U.S. Army during the Second World War, he found himself homeless and destitute in Detroit. A good Samaritan lent him $1,200, which he used to purchase and sell a diner. The $700 profit allowed him to start a business as a property developer in Arizona. Through Castle & Cooke Holdings, Murdock purchased residential and commercial properties in Arizona, California and Hawaii. He subsequently ventured into mining and the petrochemical business. 

Trending: If you invested $100 in DOGE when Elon Musk first tweeted about it in 2019, here’s how much you’d have today.

What A $200 Billion Fortune Buys You In Real Estate

The Lanai island purchase is a mere drop in the ocean for Ellison, 80, who is estimated to be worth $206 billion, according to the Bloomberg Billionaires Index and is the third richest man in the world. Among Ellison's sprawling real estate portfolio are his extensive holdings in Malibu, California. He is credited with developing the area into its A-list playground and owns several homes on the coveted Carbon Beach, also referred to as "Billionaire's Beach." He also owns the Porcupine Creek Estate in Rancho Mirage, California; Woodside Mansion, California; Beaver Creek Ranch, Colorado; Pacific Heights Mansion, San Francisco; a Lake Tahoe Estate in Nevada and the Palm Beach Estate in Florida. Many of his homes are eco-friendly. He is a big proponent of sustainable organic agriculture on Lanai, supporting local farming initiatives. 

Read Next:

• Inspired by Uber and Airbnb – Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets – with $1,000 you can invest at just $0.26/share!
• These five entrepreneurs are worth $223 billion – they all believe in one platform that offers a 7-9% target yield with monthly dividends