Oracle CEO's purchase price was not revealed, but the asking price was previously reported to be in the $500 million range.
Hawaii is rife with rumors that the two software heavyweights want to purchase the island of Lanai, where Gates got married and Ellison has a home.
Oracle chief executive acquires local carrier Island Air for an undisclosed amount.
Oracle's chief has shown initial interest in AEG, whose assets include stakes in the LA Lakers and LA Kings, sources tell Reuters.
From Ellison to Musk to Bezos, technology's richest can't seem to stay away from wacky desires to live forever, colonize other planets, and recreate the plot line of "Deep Impact," minus the apocalypse.
week in review The company joins the tablet wars in earnest this week with its own thin and shiny slates that some say might provide real competition for Apple's iPad. Also, Windows Phone 8.