Ranked as the fifth richest man in America, Larry Ellison is the co-founder of Oracle. When compared to all rich man in the world, he ranks at number seven. Born on 17th August 1944 at Manhattan, New York, rocked the world of business with his innovative thinking. He can be known as a businessman and also as an entrepreneur to many. Currently, he is serving as the executive chairman and CTO (chief technology officer) of Oracle Corporation. Apart from innovating technology, he is also well known as a philanthropist.
He migrated to Chicago and grew up there. He didn’t complete his graduation degree as he left the University of Illinois at Urbana–Champaign in the second year. After the leaving the University, he shifted to California in 1966. He was introduced to computer design in the University of Chicago. After a short stint in Amdahl Corporation, he started working for Amex Corporation. There he maintained the database project of CIA and named it “Oracle”.
Larry was inspired by a paper written by Edgar F. Codd. The paper dealt with relational database management. By investing $ 1200, he started a new company Software Development Laboratories (SDL) in the year 1977. This company was renamed Relational Software Inc. and later in 1982 it was established as Oracle Corporation.
His father was an Italian-American and served as USA Army Air Corps pilot. He was adopted by the uncle and aunt of her mother, after contracting pneumonia at the age of nine months only. Larry had divorced his fourth wife Melanie Craft in the year 2010. Blessed with two children David (son) and Megan (daughter), from his third marriage with Barbara Boothe; both the children are pursuing a career in film industry.
Larry Ellison Net Worth in year 2017 is approximately $56.5 Billion US Dollars
Some people are rich but a few are ultra rich and has the capability to lead a luxurious life. With an asset of $56.5 billion US dollars as of 2017, Larry Ellison rocks the list of the richest man in the world. The information is collected from a credible source like Forbes. He has been ranked as the top ten richest men in the world. He was able to own this fortune by co-founding the company called Oracle. Moreover, only earning is not the concern for this entrepreneur, he had donated $200 million to University of South Carolina to fight cancer in the year 2016.
Larry Ellison Assets
He never misses to add the best houses and real estate properties to his bucket list and own them as an owner. Malibu mansion was purchased by Larry Ellison by paying $20 million. It is like a big palace which consists of swimming pool, guest house, tennis court and recording room. Another property, the Turkey mansion owned by him is based on colonial architecture and consists of four bedrooms and two bathrooms. It also has two barns to house the Ellison horses.
Being a licensed pilot and avid flyer, he also owns two military jets. He is also interested in good cars and hits the roads with his vast collection of cars like AudiR8, McLarenF1, Lexus LFA and Lexus LS600hL. One of his personal favorite cars is Acura NSX. He knows how to earn more money and how to enjoy life by spending more.
Larry Ellison Business Model
Oracle was established by Larry Ellison to meet the growing demands of customer relationship management databases. It follows an organization structure of software development firms. Oracle follows an acquisition method to purchase larger and smaller software brands. Larry Ellison had also invested in various real estate projects across the globe. He even owns some sports team because of his personal interest in it.
Many would be surprised to know that Ellison was a part of the movie Iron Man 2. He had played a cameo role in the movie.
He had purchased around 50% of shares of BNP Paribas Open tennis tournament.
Melanie Craft the third wife of Ellison was a known romantic novelist.
He also owns an island in Hawaii.
Last year Oracle had acquired NetSuite and Larry Ellison owned 41.3% in the stocks of the new company. The acquisition was possible with payment of $9.3 billion and had helped to increase the net worth of Larry Ellison. He was successful to receive a cash amount of $3.48 billion in the acquisition process.
Moreover, his net worth increased to $700 million due to 2% rise in the stock price of Oracle. As Larry owns a major part of Oracle, so a mere 2% rise increased his net worth to $700 million.
Not only a successful businessman but also a successful philanthropist, Larry Ellison is till ruling the business world. His journey started with $1200 investment and became one of the richest men on Earth with a net worth of $56.5 billion. He didn’t only ride fast cars but also was successful in flying jets and at the same time owned them. From purchasing the best real estate properties around the world to acquiring more software brands and companies, Larry always owns the best among best.