Larry Ellison, the co-founder & CTO (Chief Technology Officer) of Oracle Corporation, is famous for his gigantic wealth accumulation & lavish expenses. Formerly, the CEO of Oracle, Ellison, is an American business magnate, investor as well as a philanthropist.
Starting with an investment of $2,000 in 1977, the New York native’s database software and technology corporation now stand with equity holdings at billions of dollars.
The billionaire is quite extravagant when it comes to expenses on lifestyle- from ownership of multiple real estates & an island to private jets & luxury cars.
Over the years, Ellison’s success story has also compiled with his generosity too; in 2010, he was among 40 billionaires to sign the Giving Pledge, started by Bill Gates and Warren Buffett.
How Rich Is Larry Ellison, His Net Worth In 2020?
Since the foundation of Oracle Corporation in 1977 (formerly named Relational Software Inc until 1983), Larry’s business venture barely sees a halt, in terms of expansion & money proceedings.
As per Forbes, 75-year-old Ellison owns the net worth of $65.9 billion as of May 6, 2020; he ranks #5 in Forbes 400 2019 & #5 among Billionaires 2020.
Back in October 2019, the American business tycoon with a fortune of $69.1 billion was 4th wealthiest person in the United States.
Forbes listed him 6th-richest person in the world and as the 3rd richest American in March 2010; at that time, he recorded a net worth of $28 billion.
Indeed, the raging success of Oracle that gained him hefty payroll & compensation, pumped up his wealth even more.
As per the report of The Wall Street Journal in 2010, with the last decade, Larry had earned a total compensation of whopping $1.84 billion from the company.
Aside from a 25% stake in Oracle Corporation, Ellison’s investments on Salesforce.com, NetSuite, Quark Biotechnology Inc., and Astex Pharmaceuticals, also played a substantial role in economy aid too.
Excited to have Larry Ellison & Kathleen Wilson-Thompson join the Tesla board! pic.twitter.com/CQyvkgsCsT
— Elon Musk (@elonmusk) December 28, 2018
Moreover, since December 2018, the 6 ft. 2 inches tall businessman is the board member of Tesla Inc.; he reportedly bought 3 million Tesla shares earlier in the same year.
Check out Larry Ellison’s net worth in the past 5 years:
|2019 (October)||$69.1 billion|
|2020 (March)||$59.2 billion|
Did you know? With a net worth of $44 billion in 2012, Larry became 3rd richest person in the United States, behind Bill Gates and Warren Buffett.
Stepped Down From Oracle CEO In 2014: How Much Was His Salary?
From 1977 to 2014, Larry served as the CEO of Oracle & later stepped down on September 18, 2014 (made Mark Hud & Safra Catz as the CEO). In that year (2014), his personal payroll from the company was $94.6 million.
Ever since the business mogul is serving as executive chairman and CTO of the Oracle Corporation.
As reported, back in 2005, Ellison earned $8.43 million in compensation including the base salary of $975,000 & a bonus a $6.5 million.
By 2007, his base salary grew to $1 million while totaling with compensations: bonus ($8.369 million) and options granted ($50.087 million), his yearly earnings reached $61,180,524.
Reportedly, in 2008, his total compensation was $84,598,700 & in 2009, Larry Ellioson made $56.8 million.
With a fact that Larry was receiving 7 million stock options of the company for 4th year in a row throughout 2009, his base salary of $1 million was backed down to $1 only on August 22, 2009.
Foundation Of Oracle Corporation: Once Saw Downhill But Recovered
With stints at Amdahl Corporation and Ampex Corporation, Larry along with 2 Amdahl colleagues, Bob Miner & Ed Oates, founded a Software Development Laboratories (SDL) in 1977 (later would be established as Oracle Corporation).
As for a fact, the initial investment of the company was $2,000, of which Ellison invested $1,200. Thereafter, they got a contract to build a database management system for the CIA & named it Oracle.
By 1979, the company renamed itself Relational Software Inc. & reported annual revenue of $1 million per year.
After IMB signed on to use its flagship product, the Oracle Database in 1981 their revenue saw a drastic rise & officially became Oracle Systems Corporation in 1983.
Nearly Went Bankrupt: Recovery & Market Cap
In 1986, the Oracle went on offering IPO (initial public offering). However, their mismanaged issues on accounting led them with 10% laid off of its workforce & the company was on the brink of bankruptcy.
Thereafter, with the releases of new products, the company again began to climb up & by 1993, became the leader in the database-management realm.
The Oracle Corporation‘s success hiked even more, with the purchase of HR software provider PeopleSoft (in 2004 for $10.3 billion) & Sun Microsystems, a server company in 2010.
Reportedly, with investments & acquisition of PeopleSoft, Siebel Systems, and Sun Microsystems, the company got a market cap of $185 billion in 2014.
According to Yahoo Finance, the market capitalization of Oracle Corporation is $164.491 billion as of May 6, 2020, & each share trades at $52.17.
Over a course of a month, the company’s value went up by more than $10 billion, as Oracle’s market cap was $149.764 billion on March 19, 2020, with share trading price at $47.27.
Did you know? When Oracle bought NetSuite for $9.3 billion in November 2016, Larry, personally owned a 35% stake during the purchase that valued at $3.5 billion.
Owns Hawaii’s 6th Largest Island “Lana”: What Other Estates He Has?
In 2012, Larry Ellison signed an agreement to buy nearly all of Hawaiian island Lanai (accurately 98%) from billionaire David H. Murdock owned company Castle & Cooke.
Reportedly, he spent $300 million for the purchase almost of Hawaii’s Lanai Island, which is the 6th island of the state.
With 98% of the property under Larry’s ownership, he also got hands in Lanai’s Four Seasons hotel, while the remaining 2% is owned by the State of Hawaii.
— Forbes (@Forbes) April 4, 2016
Another, anticipated & expensive property holdings of the Oracle co-founder includes his Woodside, California estate, featuring 2.3-acre man-made lake & an extensive seismic retrofit.
The property bought in 1995 for $12 million cost him $200 million for renovation & styling.
In 2011, he paid $42.9 million for Porcupine Creek Estate and private golf course in Rancho Mirage, California, which was formerly owned by Yellowstone Club founders Edra and Tim Blixseth.
Reportedly, the business magnate spent a total of $180 million to acquire 12 properties in Malibu, California in 2004 & 2005, which includes 5 adjacent lots in Malibu’s Carbon Beach (those 5 lots cost him $65 million).
In 2010, he bought a mansion in Newport, Rhode Island property (formerly owned by Astor family) for $10.2 million & spent over $100 million to convert it into an art Museum.
Moreover, Larry Ellison owns a Malibu Racquet Club, bought in 2007 for $6.9 million.
He also purchased bought Indian Wells Tennis Garden & 50% share of the BNP Paribas Open Tennis Tournament for $100 million.
Ownership In Other Properties:
- A 4-level & 5 bedrooms mansion in Pacific Heights in San Francisco- Bought in 1998 for $3.9 million
- Epiphany Hotel in Pal Alto ( now named Nobu Hotel Epiphany since 2017)- Paid $71.6 million 2015
- Acquired beachfront Casa Malibu Inn for $20 million in 2007 & transformed into Japanese concept hotel Nobu Ryokan Malibu (opened in April 2017).
- In 2018, he bought Malibu beachfront house from movie producer Joel Silver for $38 million.
- He spent a total of $102 million for several properties in Incline Village, Nevada.
- Cal Neva Resort in North Lake Tahoe- Purchased in 2017 for $35.8 million.
- Historic garden villa in Kyoto, Japan.
Formerly, Larry Ellison owned a 2.6-acre property in Lake Tahoe’s east shore Glenbrook, Nevada. Bought in 2006, he sold the 13 bedrooms house for $20.4 million in 2014.
Private Jet, Luxury Cars & Yacht
The owner of Island Airlines, Larry Ellison is also a licensed pilot & owns several aircraft. Formerly, he owned a Gulfstream V before upgrading to Gulfstream G650, with an estimated price of $75 million.
Reportedly, he owns 2 military jets: an Italian-made SIAI-Marchetti S.211 and a decommissioned Soviet MiG-29, however, the US Government prohibits to use those jets in the USA as they consider it a “firearm.”
Billionaire Larry seems to be in love with luxury cars as well; he owns Audi R8, a McLaren F1, Acura NSX, and a Lexus LFA.
Until 2010, Larry Ellison, the co-founder of Oracle had ownership in the world’s 12th largest yacht named Rising Sun- 138 meters long. Reportedly, it cost $200 million to build the yacht.
He sold his shares in the yacht to film mogul David Geffen.
Meanwhile, the businessman has a 88 meters long yacht Musashi; it was built by Feadship, a cooperative venture.
Donations & Philanthropic Works
In 2010, Larry signed The Giving Pledge, a campaign to encourage wealthy people to involve in philanthropic causes & donations.
He was among 40 billionaires to sign the pledge, alongside Bill Gates & Melinda Gates, Warren Buffet, Mark Zuckerberg & Priscilla Chan, Azim Premji, Elon Musk, Mackenzie Bezos & many others.
As per Forbes in 2004, he already had donated $151,092,103 to various charities; which was 1% of his total wealth.
To establish a cancer research center, the billionaire made a donation of $200 million to the University of Southern California in May 2016.
In 2007, Larry pledged $500,000 a community center in Sderot, Israel. In 2014, he gave $10 million to Friends of the Israel Defense Forces & later in 2017, donated them $16 million.
Had Once Walked Away From Donation
In June 2006, Larry Ellison made headlines after he opted not to honor his pledge of $115 million to Harvard University, which the American business had promised in 2005 in an interview with The Chronicle.
Why? It was because Harvard President Lawrence Summers announced his resignation in early 2006; the representatives of Ellison claimed that Summers was the brainchild of the whole concept.
Did you know? Ellison injured his elbow in a bicycle crash & was treated at the University of California, Davis in 1992. To build a care center, he donated $5 million to Lawrence J. Ellison Musculo-Skeletal Research Center & later, they opened UC Davis Medical Center.
Married 4 Times But Divorced All: Current Relationship Status?
Unlike his business venture success, Larry Ellison’s married life turned out a mess; he has been married 4 times but divorced with all his spouses.
Meanwhile, the American businessman is dating Nikita Kahn, an architect, model & occasional actress. Even if the duo is low-key about their courtship, they are dating allegedly since 2010.
As for a fact, the billionaire opened a restaurant named after his lover Nikita, in Malibu in 2013, however, it closed in 2014.
Former wives of billionaire businessman:
- Adda Quinn– Larry was in a marital relationship with her from 1967 to 1974.
- Nancy Wheeler Jenkins– She and Larry exchanged vows in 1977 but divorced after a year in 1978. Reportedly, the married 6 months before Software Development Laboratories founded & Nancy took only $500 rather claiming rights on her husband’s company.
- Barbara Boothe– Ellison’s 3rd wife Barbara a former receptionist at his company Relational Software Inc. The spouses remained together from 1983 until their divorce in 1986. While together, the duo became parents to 2 children: David and Megan, both are film producers.
- Melanie Craft- The business magnate’s 4th wife (now former) is a romance novelist. The couple wed on December 18, 2003, at Larry’s Woodside estate worth millions of dollars, but divorced in 2010. As for a fact, Larry’s friend late Steve Jobs, the former CEO & co-founder of Apple Inc. was the wedding photographer.
Born To Unwed Mother & Raised By Uncle & Aunt
Larry was born Lawrence Joseph Ellison on August 17, 1944, in New York City, New York, the USA, to single mother, a Jewish. As reported, his biological father was Italian-American United States Army Air Corps pilot.
He was adopted by his uncle & aunt, & didn’t meet his biological mother until the age of 48.
After his adoptive mother died, Larry dropped out of the University of Illinois at Urbana- Champaign. Even though Ellison later enrolled at the University of Chicago in 1996, he again left after one semester.