While Larry Ellison is a shareholder in various tech companies (such as Tesla), his primary wealth comes from his ownership stake in the company he founded, Oracle. He owns almost 43% of the company’s stock, valued at over $160 billion at current market capitalization, making him among the wealthiest people on earth.
Category
Details
Full Name
Lawrence Joseph Ellison
Date of Birth
August 17, 1944
Place of Birth
New York City, New York, USA
Nationality
American
Education
Attended University of Illinois at Urbana-Champaign and University of Chicago (did not graduate)
Early Career
Worked at Ampex Corporation and Amdahl Corporation
Major Companies Founded
Oracle Corporation
Positions
Co-founder, Executive Chairman, and CTO of Oracle Corporation
Net Worth
Estimated over $160
Business Milestones
– 1977: Co-founded Software Development Laboratories (SDL), which later became Oracle Corporation, with Bob Miner and Ed Oates. – 1981: Secured a contract with the CIA, which led to the development of the Oracle database, marking Oracle’s first major success. – 1986: Took Oracle public with an initial public offering (IPO), raising $31.5 million. – 1990: Faced a financial crisis at Oracle due to accounting errors, but managed to steer the company to recovery and continued growth. – 1997: Became the world’s largest supplier of database software. – 2004: Acquired PeopleSoft for $10.3 billion after a hostile takeover, significantly expanding Oracle’s enterprise software offerings. – 2009: Acquired Sun Microsystems for $7.4 billion, entering the hardware business and acquiring the Java programming language. – 2010: Launched Oracle Exadata, an integrated hardware and software system designed to optimize database performance. – 2014: Stepped down as CEO of Oracle, transitioning to the role of Executive Chairman and Chief Technology Officer (CTO). – 2016: Acquired NetSuite for $9.3 billion, strengthening Oracle’s cloud computing capabilities. – 2018: Oracle became a leading provider of cloud services, competing with Amazon Web Services, Microsoft Azure, and Google Cloud. – 2020: Played a key role in Oracle’s bid to acquire a stake in the social media platform TikTok. – 2022: Continued to lead Oracle’s strategic direction and innovation, maintaining its position as a global leader in enterprise software and cloud services.
Larry Ellison is a co-founder of Oracle Corporation, a multinational computer technology company known for its database software and cloud solutions.
Primary Wealth Source:
While Larry Ellison is a shareholder in various tech companies, including Tesla, his primary source of wealth comes from his ownership stake in Oracle.
Ownership Stake in Oracle:
Larry Ellison owns almost 43% of Oracle’s stock, which is a substantial ownership stake in the company.
Estimated Value of Ownership Stake:
The value of Larry Ellison’s ownership stake in Oracle is estimated to be over $100 billion.
Wealth Ranking:
Due to his ownership stake in Oracle and its significant value, Larry Ellison is considered one of the wealthiest individuals on the planet.
Oracle is a behemoth software company founded in 1977 by Larry Ellison, Bob Miner, and Ed Oates. The company followed the on-premise softwaremodel but mostly successfully transitioned to the cloudmodel. In fact, by 2022, cloud services represented most of its revenues. Indeed its lineup of software products comprises MySQL, Java, Middleware, Oracle Linux, and many others.
In 2022, Oracle generated over 70% of its revenue from cloud services. Indeed, in 2022, Oracle generated over $30 billion from cloud services, nearly $5.9 billion from the cloud and on-premise licenses, almost $3.2 billion from hardware, and $3.2 billion from services.
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