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.
Ellison 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.
Larry Ellison was born in New York City in 1944. He grew up in a middle-class family and had a relatively uneventful childhood. Ellison was a bright student, but he 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 satisfied with working for someone else. He had a vision for a new kind of software company that would revolutionize 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 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 recognized 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 was 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, in the 2023 fiscal year, Oracle earned $50 billion in revenue.
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.
There has been devastating news with regard to wildfires in Hawaii, destroying two islands in the area but Ellison’s Lanai island has not been hit.
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 aging and age-related diseases.
Ellison has also been involved in politics and public policy. He was a supporter of President 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, Larry Ellison's post-Oracle career has been characterized by diverse interests and endeavors.
While he remains involved in the tech industry with his investments in cloud computing and artificial intelligence, he has also pursued passions outside of tech, such as yachting and philanthropy. Ellison's entrepreneurial spirit and leadership continue to inspire and influence the world of business and beyond.
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Vaishali graduated in journalism from Leeds University and she has experience working with the likes of Leicester Mercury, Inews and The Week. She also comes from a marketing background, where she has done copywriting and content creation for businesses.
Currently writing about all things personal finance, Vaishali is passionate about finding the best deals around, whether it's the best credit cards or the cheapest personal loans, as well as sharing top money hacks to help people save and better manage their money.
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