Forbes Media Chairman Steve Forbes discusses Oracle and other companies moving out of states like California and New York.
Oracle co-founder Larry Ellison has moved from Silicon Valley, California, to the Hawaiian Islands where he owns almost all of the land.
The billionaire informed staff members of the software giant of his relocation on Monday, writing in a company-wide email that the company’s headquarters would not come to Redwood City, California, Austin, Texas.
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The 76-year-old said he would “use the power of the zoom” to communicate with employees “by signing Mahalo, Larry.”
According to Hawaii News Now, Allison, the 11th richest person in the world with a fortune of about 75 billion, owns about 98% of Lanai.
Oracle CEO Larry Ellis was introduced to Oracle Database In-Memory on June 10, 2014, during a launch event at the company’s headquarters in Redwood Shores, California.
The chairman paid millions of dollars for Hawaii’s sixth-largest island in 2012, just two years before leaving the company as CEO.
According to Bloomberg, Alison is the main employer of Lanai’s 20,000,000 residents, resorts, hotels, major grocery stores, housing stock and newspapers.
Oracle did not immediately respond to a request for comment. The 43-year-old company is part of the S&P 100, which has 138,000 employees.
Allison and Oracle are not the only Silicon Valley power players to leave California this year.
Renowned startup investor Keith Rabois announced the move to Miami in September, and Bay Area has recently seen the efforts of PayPal’s Peter Thiel and Palantir’s Alex Carp and JL Lonsdale.
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Elon Musk, founder of Tesla and SpaceX, announced last week that he had left Golden State for Austin.
Kasturi cited corn tax and coronavirus-related health restrictions as reasons for his departure.
