Larry Ellison Net Worth, Money and More
Net worth : $48 billion
Lawrence Joseph a.k.a Larry Ellison is an American businessman and Founder and CEO of the World’s largest business software company Oracle Corporation. Mr. Larry Ellison is the fifth richest man on the planet Earth with an estimated Net worth of $48 billion.
Early Life and Career
Mr. Larry Ellison was born in New York to a Jewish mother and an Italian father. At the age of nine Mr. Ellison was adopted by his aunt and uncle and didn’t met his biological parents until he the age of 48. Mr. Ellison graduated from Eugene Field Elementary School in Chicago in the year 1958. He completed his first and second term from University of Illinois and final term from University of Chicago, where he had his first encounter with computer design.
At the beginning of his career, Mr Ellison worked for Amdahl Corporation during the early 70′s. By the end of 70′s in 1977 to be precise, Mr Ellison founded a Software Development Laboratories with an investment of $2000 along with two partners. In 1979 the company was renamed as Relational Software inc and just after 5 years from the beginning of the company, its flagship product the Oracle database was formed and the company since then was named Oracle Systems Corporation. In the year 1994, Mr Ellison’s biggest rival Inform ix overtook Sybase and the rivalry between Inform ix CEO Phil White and Mr. Ellison was in the front page news for almost three years. But soon in 1997 the rival company Inform ix announced major monitory fall and the CEO of the company Phil White landed in jail and IBM took over Inform ix. Also the same year in 1997, Mr. Ellison was made a director of Apple computers after Steve jobs’ return to the company, but later in 2002 Mr. Ellison resigned from the post siting busy schedule. After the defeat of Inform ix, Oracle enjoyed dominance over the market until the late 90′s. In 2009 after a neck to neck competition with IBM and Hewlett- Packard, Oracle announced its intentions to buy Sun Micro-systems. The European Union approved its intentions and agreed on Oracles acquisition over Sun Micro-systems. In 2010, The Wall Street Journal reported that Mr. Ellison was the best paid executive in the last decade as he collected a total of $1.84 billion in a decade. In the year 2013 according to Forbes magazine, Mr. Ellison earned $94.6 million that year.
Wealth
Mr. Ellison has an estimated net worth of $48 Billion. he earns a salary of $77 million as a CEO of Oracle Corporation as of 2013. Apart from his salary Ellison earns a $6,500,000 as bonus each year and other compensations of $95,000 each year. Each year his compensation include Cash bonus and stock option grants. He is the fifth richest person in the world and was ranked as the richest Californian by Forbes magazine in the year 2006.
Ellison owns stakes in Net Suite, Astex Pharmaceuticals, Quark Biotechnology, and Salesforce.com and recently purchased 98% of the Hawaiian Island of Lanai for a price between $500- $600 million USD.
Larry Ellison has a very long list of Real Estate property. His recent addition is his Porcupine Creek home. The property has a 19 hole golf course, covering the area of 249 acres, the home has 16 bedrooms. The interiors are decorated with rare artifacts and furniture. The home has a classic interior and feel to it. The pool faces the mountains and has an estimated worth of $55 million.
Another expensive home for the very Rich Mr. Ellison is his Malibu mansion which he bought from David Foster for $20 million USD, The home has a pool, a tennis court, a guest house, nine bedrooms , a in house cable railway three recording studios, today the home is worth $200 million.
Mr. Ellison bought his Turkey Lane Mansion for $23 million in 2005. The property is spread in the area of 6.88 acres of land. it has four bedrooms and three bathrooms.
Mr. Ellison made an investment of $10.5 million for his beech-wood Mansion. The mansion has a ballroom, formal dining room, a guest receiving room, a music room and a morning room. the huge house can make seating arrangement for 150 guest and also has a vast lawn n gigantic terrace.
Larry Ellison bought his Wood side Mansion for $12 million and refurnished it for more than $70 million. He converted the home into a Japanese Emperor mansion. The home has seven bedrooms, a bath house, a garden and a waterfall. The home is in spread of 2.8 acres of land and a man-made lake.
Mr. Ellison bought Lake Tahoe Estate for over $100 million. the property has about 420 feet of lake and two piers . The main house along with a cottage, a beach house and a spa and a pool extends over 19000 square feet.
Apart from these, Mr. Ellison owns other properties worth over $200 million and two yacht worth over $150 million
He also owns a Gulf steam 5 jet worth $41 million and a Citation X aircraft worth over $50 million.
Mr Ellison lives life like a King, and choose his Audi R8,Mc LAren F1, Acura NSX, Lexus LFA as his chariots with combined worth of over $50 million.
Relationships
Mr. Ellison first married Adda in 1967 and lived in a one room apartment for three years. The couple decided to part ways after seven years of marriage, Adda divorced Mr. Ellison because of his aimlessness and high debts.
Mr Ellison’s second wife was Nancy Wheeler. They got married six months before founding SDL in 1977 and divorced in 1978. At the time of divorce Nancy claimed $500 on her husband’s company.
Mr. Ellison gave birth to his first child named David, with his girlfriend Barbara Booth. They got married before the son turned one and the couple had another child named Megan. After 3 years of marriage the relationship went sore and couple decided to part ways in 1986.
In 2003, Ellison married for the fourth time to Melanie Craft. after staying married for seven years, the couple decided to divorce in 2010.
Mr. Ellison is currently Single
Quote:” I have had all of the disadvantages required for success.”
