News Summary: Purchasing isle fits with persona

Associated Press
In this Oct. 5, 2011 photo, Oracle CEO Larry Ellison speaks during the Oracle OpenWorld Keynote in San Francisco. Ellison has reached a deal to buy 98 percent of the island of Lanai from its current owner, Hawaii Gov. Neil Abercrombie said Wednesday, June 20, 2012. (AP Photo/Jeff Chiu)
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THE DEAL: Oracle CEO Larry Ellison is buying an inhabited Hawaiian island. He inked a deal announced this week by the governor to buy 98 percent of the island's 141 square miles.

ABOUT HIS WEALTH: Ellison built Oracle Corp. with $1,200 in 1977 and is the world's sixth richest billionaire.

ABOUT HIS SPENDING: He's known for flaunting his fortune like a playboy — driving fancy cars, wooing beautiful women, flying his own jet and spending $200 million to build a Japanese-themed compound in California's Silicon Valley.

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