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Dole Fruit Founder Sells Last of His Lanai Property to Oracle's Larry Ellison

Dole Fruit Founder Sells Last of His Lanai Property to Oracle's Larry Ellison

If ever there was 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 small Hawaiian island of Lanai to Oracle owner Larry Ellison for $300 million a dozen years ago, he did so with one stipulation — that he keep the 1-acre parcel on which he built a beachfront vacation home, expecting to live outside. the rest of his life in paradise on an island that once had one of the largest pineapple plantations in the world. Murdock has been sick since 1985, eats a diet rich in fruits and vegetables, drinks several smoothies a day and, according to the New York Times, aims to live to 125.

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However, according to The Wall Street Journal, Murdock is now putting the estate on the market for $17 million. Although Lanai has a population of only 3,000 people on 140 square kilometers, it is synonymous with exclusive luxury. It has several private properties, a Jack Nicklaus-designed golf course and two Four Seasons hotels built by Murdock, one of which is adjacent to his 8,500-square-foot home, now on the market.

Despite his age, Murdock, a self-made millionaire, only used his Lanai residence as a vacation spot, living full-time in Lake Sherwood, Los Angeles. He got into the manufacturing business late in his career in 1985 when he bought Castle & Cooke, a real estate company in Hawaii that owned Dole and most of Lanai. He took the company private twice in 2003 and 2013.

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Murdock's net worth is estimated at $3.7 billion. His story is very remarkable. After serving in the US Army during World War II, he found himself homeless and destitute in Detroit. A good Samaritan loaned him $1,200, which he used to buy and sell the restaurant. The $700 profit allowed him to start a business as a real estate developer in Arizona. Through Castle & Cooke Holdings, Murdock purchased residential and commercial properties in Arizona, California and Hawaii. He then ventured into mining and the petrochemical business.


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