Lawrence Joseph Ellison known as Larry Ellison is the co-founder, executive chairman, chief technology officer (CTO), and former chief executive officer (CEO) of Oracle Corporation and an American business tycoon and investor. The company Oracle Corporation is renowned for technological advancements, including database administration, cloud computing, and other things.
He is ranked as the eleventh-wealthiest person in the world with an estimated net worth of $89 billion as of June 2022 by the Bloomberg Billionaires Index. The sixth-largest island in the Hawaiian Archipelago, Lanai, is owned by Ellison to a whopping 98%.
Larry Ellison Biography and Net worth:
|Net Worth $89 Billion|
|Full Name Lawrence Joseph Ellison|
|Birth Date August 17, 1944|
|Birthplace New York, US|
|Age 77 years|
|Occupation Businessman, investor|
Larry Ellison Early Life
On August 17, 1944, a single mother named Florence Spellman gave birth to Larry Ellison in the Bronx, New York. After being accepted to the University of Illinois at Urbana-Champaign and enrolling as a pre-med student, Ellison attended South Shore High School in Chicago. He was honored as the university’s science student of the year. After his second year, he left without finishing his final exams due to the recent death of his adopted mother.
After spending the summer of 1966 in California, he returned to the University of Chicago for one term, where he first encountered computer design while studying physics and mathematics. He relocated to Berkeley, California, at the age of 22 in 1966.
Ellison had acquired some fundamental computer abilities during his time in college and his different jobs, and he was finally able to put them to use as a programmer at Amdahl, where he worked on the first mainframe system compatible with IBM.
Larry Ellison Family
A Jewish unmarried mother gave birth to Larry Ellison in New York City. Italian-American United States Army Air Corps pilot was his biological father. Ellison’s mother gave him up for adoption to her aunt and uncle, Lillian and Louis Ellison, when he was nine months old due to pneumonia. The next time he saw his biological mother was when he was 48 years old. In contrast to his strict, unsupportive, and frequently distant adoptive father, he recalls his adoptive mother as being warm and affectionate.
Larry Ellison Career
When Ellison and two of his Amdahl co-workers created Software Development Labs in 1977, they soon received a contract to create the CIA’s Oracle database management system. When IBM agreed to adopt Oracle in 1981, the company’s revenues increased annually for the following seven years while having fewer than 10 workers and less than $1 million in annual revenue. The business was shortly rebranded by Ellison to reflect its top-selling item.
The initial public offering (IPO) of Oracle Corporation took place in 1986, however, due to accounting errors, the majority of the company’s market capitalization was lost, and Oracle was on the verge of going bankrupt. However, following a management shuffle and a product-cycle renewal, Oracle’s new solutions stormed the market, and by 1992 the business was the front-runner in the database-management space.
Ellison became one of the richest persons in the world as a result of his continuous success and his position as Oracle’s largest shareholder. Ellison decided to focus on growth through acquisitions, and over the following few years, he snatched up a number of businesses, including PeopleSoft, Siebel Systems, and Sun Microsystems. As a result, Oracle was able to grow through these acquisitions to have a market cap of roughly $185 billion and 130,000 employees by 2014.
Larry Ellison Wife
Ellison has had four marriages and divorces, although none of his marriages have lasted longer than seven years.
Adda Quinn was his first wife. Ellison was 24 when the couple wed in 1967, and they later separated in 1974. Nancy Wheeler Jenkins was Ellison’s second wife. In 1977, the two got married, but they divorced by 1978. Barbara Boothe, one of Ellison’s first employees at Relational Software, served as his third wife till 1086. David and Megan, Ellison’s son and daughter, are from his third wife Booth. Melanie Craft, a writer, was Ellison’s fourth and last wife. From 2003 to 2010, the couple was married.
Larry Ellison’s Net Worth
As of June 2022, Larry Ellison’s net worth is estimated to be $89 billion making him the 11th richest person in the world. Ellison currently resides on the tiny Hawaiian island of Lanai. Ellison controlled a whopping 80% of the island. With a population of only 2,100, Lanai is more than just Ellison’s private residence. Ellison also constructed a home on the island.
Ellison has acquired at least four jets throughout the years, making up his fleet. He has several other aircraft in addition to two military jets. Ellison is also a ship captain and a yacht racer and he has owned several yachts.
In spite of this, Ellison is still dedicated to philanthropy. He adopted Warren Buffet’s “Giving Pledge,” promising to donate 95% of his money to charitable causes after his passing.