While the biggest companies are involved in massive layoffs, Oracle announced its Q3 financial reports – a rise of 18% in its revenue. The Chairperson, Larry Ellison, announced that Oracle would build ‘Hundreds of Cloud Data Centers’ in ‘Every country.’ This, on extension, would add to Oracle’s growing market revenue and thereby push up the figures associated with Larry Ellison net worth, which currently stands at $108.2 billion (2023 financial reports).
So, how did the University of Chicago dropout go on to find this computer technology company – Oracle Foundation? What are his other investments? How does he spend his money? What are his future dreams? This article has the key to all your queries.
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What is Larry Ellison net worth currently?
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As per the latest figures that the global financial magazines present – Ellison’s net worth stands at $108.2 B. In 2022, he unseated Bill Gates to be the World’s Richest Man. Currently, he competes for the same throne with Tesla founder Elon Musk.
Touted to be the World’s 6th richest (Bloomberg Billionaire’s Index) and one of the most revered names in Silicon Valley and the Billionaire’s Club, Ellison is a man noted for his tireless work. Though he normally keeps a low profile, rather concentrating on his work than showing – off – recently, he was pulled up by the police department for breaking traffic rules in Lanai Islands (he owns part of it).
So, what are those key factors that constantly skyrocket the magic Larry Ellison net worth numbers? Let’s have a look –
What is Larry Ellison’s role in Oracle?
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As mentioned above – Larry Ellison is the co-founder and biggest shareholder of Oracle. Currently, he also serves as the Chief Technology Officer of this organization.
It was in 1977 that Larry Ellison co-founded Oracle, one of the biggest software giants, in partnership with Ed Oates and Bob Miner (people who he had met during his tenure at the electronics company Ampex). For the unaware, the company’s original name was Software Development Laboratories – which released a database program to utilize Structured Query Language by the name of Oracle.
Oracle is the second-largest software company known globally, providing cloud computing programs, Linux, and Java codes. With a 42.9% stake in Oracle, Larry Ellison net worth jumped from somewhere at $69 billion to the current $108.2 billion (Forbes list).
However, he resigned from the position of CEO of Oracle, in 2014, after being at the helm for 37 years. Therefore, one may say – the revenue changes reflected in the workbooks of Oracle – are quite in tandem with that of Ellison’s personal account books.
How has Oracle’s revenue increased recently?
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Pick up any finance magazine, and you will find – Oracle has grown with its range of acquisitions in recent times. A Fortune Magazine article dated December 2021 – directly showed how Larry Ellison net worth skyrocketed after a 16% rise in Oracle’s shares.
As of now – Oracle’s net worth is stacked up at $255.94 billion and is slated for an 18% rise in the coming financial quarters of 2023. With the company’s growth showing high numbers, even leaving the investors stunned – it is only a matter of time to see how it zooms past Amazon and Microsoft.
What are his investments in real estate?
For the unversed, apart from the professional investments he has made via Oracle, in terms of personal assets that add to the official figures of Larry Ellison net worth computed by auditors –
- He owns homes at the locations of – Malibu, Hawaii, Lake Tahoe, Rhode Island, Japan, and San Fransisco.
- His primary residential address is – Woodside, California. The 45-acre mansion with a Japanese estate-like look is tagged at $200 million (before inflation).
- He owns the Porcupine Creek Estate Golf Course in California, valued at $43 million (2011 figure)
- Ellison is the owner of Astor’s Beechwood Mansion, which was priced at $10.5 million (2010).
- Larry owns a mansion in Palm Beach, Florida, that cost him $80 million.
- In 2012, he signed an agreement with the Castle and Cooke company to acquire 98% of Lanai, a Hawaiian island. This agreement was signed for $300 million and automatically included Lanai’s Four Seasons Hotel. Ellison shifted to Lanai in December 2020.
- He had previously invested in a yacht, Rising Sun. Last heard – he had sold his shares, transferring sole ownership to David Geffen.
- Larry owns a couple of aircraft, Gulfstream V being the one in the news. Apart from that – he owns military jets, an Italian training aircraft, along with a Soviet fighter jet (decommissioned).
- It was in 2009 that Ellison purchased the California tennis club facility – Indian Wells Tennis Garden, for a whopping $100 million. He further invested another $100 million for its infrastructural renovation.
What are the companies he has stakes in?
Now that you have clarity as to how the metrics of Larry Ellison net worth is connected to the profits of Oracle, it is crucial you check out the other companies in which Ellison has a stake.
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PeopleSoft
This was one of the first companies that Oracle acquired – for $10.3 billion in 2005. It specializes in HR management, along with supply chain and finance coordination.
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BEA System
This software company categorically works in enterprise infrastructure software and was acquired by Oracle in 2008 for $8.5 billion.
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Sun Microsystems
This was one of the largest hardware and software companies at its primetime. Oracle acquired it in 2010 for $7.4 billion.
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Pillar Data System
A storage technology company providing business-storage-related solutions, Oracle acquired this company in 2011.
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NetSuite
Another solid addition to the already humongous Larry Ellison net worth was when Oracle acquired this investment firm in 2016 for $93 billion. It is a cloud-based company offering business management solutions.
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Tesla
Ellison joined his ‘great friend’ Elon Musk on the Tesla Board of Directors in 2018. With a 40% stake in the company, he was one of the major players till 2022, when he decided to release himself from the responsibilities. Currently, he still owns close to 15 million shares of Tesla.
A quick look into his past
Before you move on to other tabs to know a little more about Oracle, let’s give you some quick highlights about his family.
- He was born and raised by a single mother, the details of whom are not available on the Internet. The details available are not credible and have not been backed by Ellison or any of his family members.
- He has been married and, unfortunately, divorced four times. He has 2 kids, the owner of film-producing companies from his second wife – Barbara Boothe.
- None of his divorces had any financial claims associated with them.
Looking forward to a brighter future
With the start-up culture on the rise, for many, the figures associated with Larry Ellison net worth are truly an inspiration – of how a man with almost nothing could reach such heights of success. Though he gave up on the position of Chief Executive Officer of Oracle in 2014, he still, as the biggest shareholder of the tech company, drives the organization’s decision-making.
Albeit, this has led to Oracle seeing immense revenue growth and market presence when other companies have seen a drop.
If you are not a follower of Ellison, it is time you pick up some of his life skills and try to incorporate the same in your life.
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