sidebar top ad banner
Larry Ellison
  • Net Worth : $144 Billion
    0.00%
    Real Time Net Worth as of 2024/06/14
  • Wealth Source : Oracle
  • Industry : Technology
  • Date of Birth : 1944/08/16
  • Age : 79
  • Gender : Male
  • Citizenship : United States

Grow your finances today.

By submitting, you agree to comparewise’s terms of use and privacy policy.
sidebar top ad banner
Larry Ellison
  • Net Worth : $144 Billion
    0.00%
  • Wealth Source : Oracle
  • Industry : Technology
  • Date of Birth : 1944/08/16
  • Age : 79
  • Gender : Male
  • Citizenship : United States

Larry Ellison Net Worth 2024

Year Net Worth

Larry Ellison is one of the creators, cofounders, and majority shareholders of Oracle, a database company based in Texas with a fiscal year ending May 31, 2023, revenue of $50 billion.

According to Bloomberg, Larry owns more than 40% of the Austin, Texas-based firm, as well as Tesla, a sailing team, the Indian Wells tennis event, and real estate, including Hawaii’s Lanai island.

The majority of Ellison’s fortune is derived from his ownership of Oracle, a US software business. He owns more than 42% of the firm, according to the corporation’s June 2023 filing.

According to the company’s September 2022 proxy filing, Ellison has pledged almost a quarter of his shares as security against personal debt.

These pledged shares are not included in the computation of net worth. He holds roughly 4.8 million options, which are valued at their net worth.

Software tycoon

The software tycoon has a history of living lavishly. According to a January 2006 San Francisco Chronicle story, Ellison’s accountant, Philip Simon, urged in a 2002 email that he “budget and plan” since his spending habits were becoming difficult to continue.

He pays for his lifestyle, which includes yachts, jets, trophy houses, America’s Cup teams, and the Indian Wells tennis event, using debt and earnings from Oracle sales and dividends, which have totaled more than $12 billion since 2003, according to Bloomberg statistics.

According to Tesla’s 2022 proxy filing, Ellison owns around 1.4% of the firm.

His cash investments are valued based on an examination of his income, insider transactions, taxes, spending patterns, and market performance.

The calculation takes into account the value of properties in

  • San Francisco
  • Lake Tahoe
  • Malibu
  • Rhode Island
  • Japan
  • Hawaii

As well as Island Air, an airline established in Hawaii.

Larry Ellison’s biography

Ellison was adopted by his mother’s aunt and uncle when he was only nine months old, and they raised him on the south side of Chicago.

After leaving the University of Illinois and the Unive­rsity of Chicago, he relocated to Be­rkeley, California. There­, he began his career as a computer programmer at Ampex, focusing on de­veloping the Central Inte­lligence Agency’s Oracle­ database.

larry ellison net worth - comparewise

The road to riches

Ellison and two partners founded what would become Oracle in 1977. The company issued shares in an initial public offering on March 12, 1986, a day before Microsoft’s first public offering.

Currently, Ellison controls more than 1.1 billion shares and options, or almost 25% of the world’s third-largest software corporation by revenue.

Ellison also has an interest in Netsuite, a database firm, and Leapfrog Enterprises, a manufacturer of educational software.

Over the last decade, he has spent hundreds of millions of dollars on luxury real estate, including
properties in Malibu, California;

  • a home and private golf course in Rancho Mirage, California;
  • the Astor Beechwood Mansion in Newport, Rhode Island;
  • an estate in Woodside, California, inspired by 16th-century Japanese feudal architecture.

Fame

The enthusiastic sailor helped fund the BMW Oracle Racing team, which won the America’s Cup in February 2010.

Later that year, he sold his part in Rising Sun, a 138-meter megayacht, to billionaire David Geffen. In October 2013, his Oracle side USA successfully defended the America’s Cup against a New Zealand side.

In 2010, he signed the Giving Pledge, pledging to contribute at least 95% of his money to charitable causes.

In a letter to the organization, Ellison said that he had “already given hundreds of millions of dollars to medical research and education, and I will give billions more over time.”

In September 2014, he stepped down as Oracle CEO to become chairman and chief technology officer.

Lawrence Joseph Ellison milestones of achievement

Lawrence Joseph Ellison’s life is a whirlwind of innovation and business prowess, and a true business and media titan’s odyssey.

YearMilesoneMilestone
1944Lawrence J. Ellison was born in Bronx City, NY
1978He developed a commercial relational databaseCommercial Database
1986This year Oracle completed its first public offering 
2008Purchase of the Indian Wells Tennis Garden and the BNP Paribas Tennis Tournament.Bought BNP
2010Oracle pays $7.4 billion in cash to acquire Sun Microsystems.. Acquire Micrsystem 
2010Wins the 33rd America’s Cup against sailing adversary Ernesto Bertarelli.
2011This year saw the launch of Oracle Public Cloud, which will support the company’s software platforms.
2016Oracle completes its $9 billion acquisition of NetSuite$9 billion

Ellison early life and education

Larry Ellison was born in 1944 in New York City to a young adolescent mother and reared on Chicago’s South Side by his mother’s aunt and uncle.

Despite dropping out of the university without a degree, Ellison spent nearly a decade creating computer code for clients, including tech companies Ampex and Amdahl, where he worked on the first IBM-compatible mainframe system.

Larry Ellison’s net worth and salary

Larry Ellison is an American billionaire entrepreneur with a net worth of $130 billion. Larry Ellison gained his wealth as the founder of Oracle, the software powerhouse. He also served as CEO until September 2014.

Larry Ellison owns around 42% of Oracle. He has pledged about a quarter of his stock as collateral for lines of credit and personal debt.

He has gained over $12 billion through Oracle stock sales and dividends since 2003.

Larry also owns around 1.5% of Tesla. As we will see in the next section, Larry paid around $1 billion in 2018 to acquire his Tesla share.

That 1.5% ownership was worth $15 billion at different periods in recent years when Tesla’s market valuation reached $1 trillion.

How Ellison joined the world’s richest people

Larry Ellison’s net worth ranks him among the top richest people in the world, making him one of the world’s richest people.

Larry was the world’s richest person for a brief period in the 1990s when his net worth overtook Bill Gates after Microsoft shares plunged as a result of the Department of Justice’s antitrust investigation.

Ellison was frequently one of, if not the best-paid executives in the world throughout his tenure as CEO, often earning north of $90 million in basic compensation in certain years without considering dividends or stock sales.

Larry took Oracle public on March 12, 1986. That occurred one day before longtime rival Bill Gates went public with Microsoft. At the time of the IPO, Larry owned 39% of Oracle.

Oracle had a market value of $270 million at the end of the first day of trade, giving Larry a paper net worth of $105.3 million. In 1990, Oracle was on the edge of bankruptcy.

Oracle had just a few months’ worth of cash in the bank after losing more than half of its market value. Larry, whose own net worth had dropped from about $500 million to $150 million, was on the verge of being fired from the corporation.

Some of Ellison’s notable achievements

Ellison had the idea for Oracle when he read about relational databases in an IBM research paper that advocated a new approach to organizing enormous amounts of data to make the information easily accessible.

Despite the fact that IBM had not yet pushed the notion beyond the research stage, Ellison saw the immense commercial potential of relational databases to revolutionize how businesses work.

Ellison and Oracle’s creation

In 1977, Ellison and his former Ampex colleagues Bob Miner and Ed Oates launched Software Development Laboratories with $2,000 of their own money, which later became Oracle.

Ellison and his colleagues worked over the following two years to create the first commercial structured query language (SQL) for dealing with enormous relational databases.

A $50,000 contract from the United States Central Intelligence Agency (CIA) in 1978 to construct a relational database management system (RDBMS), code-named Oracle, was vital to their early success under Ellison’s leadership.

When Oracle 2, the first commercial relational database, debuted in 1979, the CIA was among the first customers.

Ellison borrowed the Oracle moniker from this early deal with the CIA when rebranding Software Development Laboratories in 1983.

Oracle 7 and the IPO

After bringing Oracle public in 1986, Ellison led the firm through tremendous upheaval, including its first quarterly loss in 1990 and disclosures regarding false sales accounting, which caused the stock price to plummet.

The prognosis brightened in 1992, when Oracle 7, a popular database program, was released and gained market share. Oracle 7 was used by banks, companies, governments, airlines, automakers, and merchants.

Despite the late-90s dot-com boom, Oracle’s stock price more than quadrupled from 1999 to the end of 2007, then continued to rise during the Great Financial Crisis and the COVID-19 outbreak.

Strategic purchases

The series of strategic software acquisitions made by Oracle under Ellison’s leadership, including those of

  • Sun Microsystems (information technology),
  • Hyperion Solutions (business intelligence),
  • Retek (retail), Siebel
  • Systems (customer relationship management) and
  • PeopleSoft (human resources, finance, supply chain, enterprise performance, and customer relationship management)

helped the company expand into new markets.

Oracle infrastructure for cloud computing

Ellison had positioned Oracle’s network architecture to support the unprecedented development of cloud-based corporate IT firms by 2020, during the early days of the COVID-19 pandemic lockdown.

Zoom Video Communications Inc. (ZM), the pioneer in corporate video communications, has chosen Oracle Cloud Infrastructure to meet increased demand for its services in April 2020.

Outwitting competitors

Ellison has a history of outwitting rivals, he easily achieves this by identifying and seizing untapped opportunities that others have ignored.

When IBM began developing SQL software to compete with Oracle in the 1980s, he took advantage of the fact that IBM’s SQL solutions only worked with IBM servers.

Ellison emphasizes the increasing demand for re­lational database systems that can be compatible­ with both new commercial and government computers.

The Internet’s arrival

Ellison was one of the foresighted persons who foresaw the Internet’s revolution impact on businesses and human existence.

Beginning in 1997, Ellison decided to concentrate Oracle only on critical business software platforms for the Internet.

It was a risky technique that risked alienating clients who were unprepared for the change. Nonetheless, it positioned the corporation to capitalize on the dot-com boom.

By 2000, Oracle was one of Silicon Valley’s greatest brands, and Ellison momentarily surpassed Bill Gates as the world’s wealthiest person.

Final thoughts

Oracle, under the visionary leadership of Larry Ellison, rose to the top 100 companies in the world. With over $42 billion in sale­s in fiscal year 2022 and a market price e­xceeding $296 billion on June 11, 2023.

By creating a compre­hensive suite of software­ solutions that encompass relational databases, applications, se­rvers, storage, and cloud service­s, Ellison strategically positioned Oracle as the frontrunner in the industry.

In the 1990s, Ellison pre­dicted that the interne­t would be the future of compute­rs. As a result, he led the way in developing interne­t-compatible commercial programs, giving Oracle a significant e­dge.

Discover Investment Opportunities

Make your money do more.

12 Results

Advertiser disclosure

Offers shown here are from third-party advertisers. We are not an agent, representative, or broker of any advertiser, and we don’t endorse or recommend any particular offer. Information is provided by the advertiser and is shown without any representation or warranty from us as to its accuracy or applicability. Each offer is subject to the advertiser’s review, approval, and terms. We receive compensation from companies whose offers are shown here, and that may impact how and where offers appear (and in what order). We don’t include all products or offers out there, but we hope what you see will give you some great options.

Young investors can trade stocks and ETFs, all for free.
Min Investment
$0
Target Return
Varied
Retire up to 30% wealthier with Questwealth Portfolio.
Min Investment
$1
Target Return
Varied
Get $20 CAD of BTC with promo code: COMPAREWISE
Min Investment
$100
Target Return
4-7%
Buy and sell gold, silver & platinum online at the best price.
Min Investment
$1
Target Return
Varied
Get up to $150 cash bonus
Min Investment
$0
Target Return
Varied
Flexibility with a great return.
Min Investment
$100
Target Return
5.20%
Get a $50 bonus when you sign up and deposit $250.
Min Investment
$50
Target Return
Varied
Buying and securing gold has never beeng more simple and affordable.
Min Investment
$1
Target Return
Varied
High return on a shorter term.
Min Investment
$500
Target Return
4.25%
Get a $100 welcome bonus, when you make your top-up*
Min Investment
$10
Target Return
Varied
A new passive income asset class, peer-to-peer lending.
Min Investment
$1
Target Return
Varied
Sign Up And Access 65+ Cryptocurrencies Instantly
Min Investment
$10
Target Return
Varied

comparewise

December 28, 2023
Fact Checked
Categories:

Grow your finances today.

By submitting, you agree to comparewise’s terms of use and privacy policy.
Car loan?
Personal Loan?

Top deals await you just a short
application away!