Steven Musil for CNet:

Larry Ellison has closed a deal to buy most the Hawaiian island of Lanai for an undisclosed sum.

The Oracle chief executive has agreed to purchase 98 percent of the 141-square-mile island, Hawaii’s sixth-largest by acreage, according to a statement issued today by the Hawaii governor’s office. Current landowner Castle & Cooke filed a transfer application with the Public Utilities Commission.

There’s rich, and there’s superrich. When you can afford to buy your own Hawaiian island, I definitely think you’re in the latter group. Let’s hope Larry Ellison uses his powers for good, not for evil.