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It looks like the island of Lanai, a pristine and secluded 141-square-mile oasis in Hawaii, has a new king. Larry Ellison, the billionaire co-founder and CEO of Oracle, has inked a deal to purchase 98 percent of the island, which reportedly also drew interest from fellow Silicon Valley billionaire Bill Gates.

Ellison has a personal connection to Lanai given that he's owned a home on the island for years. Previous owner, David Murdock of Castle & Cooke, was looking to sell the property and members of the Hawaiian government were fearful that a green-eyed retail developer would swoop in.

"We look forward to welcoming Mr. Ellison in the near future," Hawaii Governor Neil Abercrombie said in a statement. "It is my understanding that Mr. Ellison has had a long standing interest in Lana'i. His passion for nature, particularly the ocean is well known specifically in the realm of America's Cup sailing."

So basically, it's like the movie The Descendants but without the horrible boating accident or dull story beats (yeah, we said it).

[via CNET]