Larry Ellison is known for co-founding Oracle, and that has made him one of the world's wealthiest individuals, primarily thanks to his stake in the business.
According to the Bloomberg Billionaire Index, Ellison has a net worth of $142 billion, making him the seventh richest person in the world. He's now richer than Warren Buffett and Steve Ballmer.
Here we look at how Larry Ellison built his fortune and the factors contributing to his net wealth today.
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How Larry Ellison started Oracle
Larry Ellison is a name that is synonymous with the software industry, and for good reason.
He is the founder of Oracle Corporation, one of the largest software companies in the world. Oracle is known for its database management systems, cloud services and enterprise software solutions. He owns around 35% of the software company.
Ellison was born in New York City in 1944. He grew up in a middle-class family and had a relatively uneventful childhood. He was a bright student, but struggled with authority and often clashed with his teachers. He dropped out of college twice before finally getting a degree in computer science from the University of Illinois.
After college, Ellison moved to California and started working for several tech companies. He was a talented programmer and quickly made a name for himself in the industry. However, Ellison was not happy working for someone else. He had a vision for a new kind of software company that would revolutionise how businesses manage their data.
In 1977, Ellison teamed up with two friends, Bob Miner and Ed Oates, to start a company called Software Development Laboratories (SDL). The company's goal was to create a new kind of database management system that would be faster and more efficient than anything on the market. Ellison, Miner and Oates worked tirelessly to develop this new software and, in 1979, they released their first product: Oracle.
Oracle was an instant success. Businesses loved the software's speed, efficiency and reliability. Oracle quickly became a large corporations’ go-to database management system, and the company grew rapidly. By the mid-1980s, Oracle was one of the fastest-growing software companies in the world, now competing against software giants like Microsoft, Intel and IBM.
Ellison was a visionary leader who knew how to seize new opportunities. He recognised early on that the future of computing was in the cloud, and he began investing heavily in cloud services. Oracle's cloud platform, Oracle Cloud, is now one of the most popular cloud services in the world.
Ellison is also a shrewd businessman who knew how to compete in a crowded market. He aggressively pursued new business opportunities and was not afraid to take risks. In the early 1990s, Ellison made a bold move by acquiring PeopleSoft, a company that was twice the size of Oracle. The acquisition was controversial, but it turned out to be a smart move. PeopleSoft's technology helped Oracle expand its business and solidify its position as a leader in the software industry.
Today, Oracle is a massive company with thousands of employees and customers around the world. The company's products and services are used by some of the largest corporations in the world, including Walmart, Coca-Cola and Bank of America. According to the company’s latest earnings report, Oracle earned $53 billion in revenue in the 2024 fiscal year.
Larry Ellison's net worth after Oracle
One of Ellison's most notable post-Oracle projects was founding the Lanai Resorts LLC, a company that owns two luxury resorts on the Hawaiian island of Lanai. Ellison purchased 98% of the island in 2012 and has since invested in rebuilding the infrastructure and improving the tourism industry on the island. He also resides on the island.
Ellison has also been heavily involved in the America's Cup yacht race, sponsoring and leading his own team, Oracle Team USA. The team has won the competition twice under Ellison's leadership.
The billionaire’s investments don’t only sit in the industry that made him. Ellison was on the board of electric vehicle maker Tesla from December 2018 to August 2022. As it stands, he owns 15 million shares in the company according to Forbes.
In addition to his business ventures, Ellison has been actively involved in philanthropy. He has donated millions of dollars to various causes, including medical research, education and environmental conservation. His foundation, the Ellison Medical Foundation, has funded research on ageing and age-related diseases.
Ellison has also been involved in politics and public policy. He was a supporter of Donald Trump's 2020 re-election campaign and has been a vocal critic of California's high taxes and regulations, even considering moving Oracle's headquarters out of the state.
Overall, Ellison's post-Oracle career has been characterised by diverse interests and endeavors. His entrepreneurial spirit and leadership continue to inspire and influence the world of business and beyond.
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