Larry Ellison net worth
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Larry Ellison net worth and salary
Larry Ellison is an American billionaire entrepreneur with a net worth of US$114 billion. Larry Ellison (Larry Ellison) has won a huge fortune as the founder of the software giant Oracle. He also served as CEO until September 2014.
Ellison’s net worth makes him one of the top ten richest people in the world after Jeff Bezos, Bill Gates, Warren Buffett and Bernard Arnault.
In the brief period of the 1990s, when Microsoft’s stock plummeted due to an antitrust investigation by the Department of Justice, Larry’s net worth surpassed Bill Gates and became the richest person on the planet. At different times, Larry has always been the highest paid executive in the world, some with annual income of more than US$90 million.
Larry listed Oracle on March 12, 1986. Coincidentally, it was the day before Bill Gates listed Microsoft. At the time of the IPO, Larry owned 39% of Oracle. By the end of the first day of the transaction, Oracle’s market value was $270 million, which means that Larry’s net book value that day was $105.3 million.
In 1990, Oracle found itself on the verge of bankruptcy. After the market value has shrunk by more than 50%, Oracle has only a few months of cash left in the bank. Larry’s personal net worth dropped from about 500 million U.S. dollars to 150 million U.S. dollars, and was almost ousted by the company.
Tesla Investment
In the months of 2018, Larry Ellison quietly spent about $1 billion to acquire 3 million shares of Tesla. He and Elon Musk are old friends. When he revealed his shares to the US Securities and Exchange Commission, he owned 1.7% of Tesla. After the company split its shares at a ratio of 5-1 in August 2020, his 3 million shares became 15 million shares.
At various points in 2021, the value of these 15 million shares is as high as 13 billion U.S. dollars, but on average close to 10 billion U.S. dollars.
personal life
Larry has been married four times and has five children in total. From 2003 to 2010, he married his most recent wife, romantic novelist Melanie Craft (Melanie Craft). Larry’s good friend Steve Jobs served as the official wedding photographer at their wedding. He has two children with his third wife, Barbara Boothe, and he was married from 1983 to 1986. His two children, David and Megan Ellison (Megan Ellison) are filmmakers.
To date, Larry has donated at least US$400 million in personal wealth to various charities. He also signed a pledge of donation.
Larry Ellison net worth details
Today, Ellison owns 22% of Oracle. He has used 315 million shares as collateral for credit lines and personal debts. Since 2003, he has earned approximately $9 billion from Oracle stock sales and dividends.
(Photo by Philip Farane/Getty Images)
Housing and real estate
Larry’s real estate portfolio includes properties across the globe, including homes in Hawaii, Japan, Malibu, Lake Tahoe, San Francisco, and Rhode Island. His main residence is a 45-acre estate in Woodside, California, which may be worth at least $200 million. This mansion is modeled on a Japanese manor from the 16th century. It covers an area of 45 acres, with a main house, a two-bedroom hotel, three cottages, a barn converted into a gym, and a 3-acre man-made lake with two waterfalls. After the local township assessed the value of his property at US$173 million and handed over the tax bill to Ellison, he challenged the value and won. His “US$70 million” property received a 60% tax reduction.
Between 2004 and 2005, Larry spent $180 million to acquire 12 properties in Malibu, California. He spent $65 million to purchase five consecutive properties on the super exclusive Carbon Beach in Malibu. In 2010, he spent $10.5 million to acquire the Astor family mansion in Newport, Rhode Island. In 2011, she spent $43 million to purchase the 249-acre Porcupine Creek Estate golf course in Rancho Mirage, California.
Lanai
In June 2012, Larry spent US$300 million to acquire a 98% stake in Lanai, Hawaii from Castle & Cooke. The other 2% is owned by the State of Hawaii. Through the acquisition, Larry also acquired the Four Seasons Hotel in Lanai. According to reports, he has paid 500 million US dollars out of his pocket to improve infrastructure, including roads, water treatment facilities and state-of-the-art movie theaters.
Other toys
As a lifelong tennis enthusiast, Ellison owns the Indian Wells Tennis Garden and the Indian Wells Masters in Coachella, California. He is an avid sailor. His Oracle USA team won the 2010 and 2013 America’s Cup. Over the years, Larry has owned the Rising Sun, the 12th largest yacht in the world. Larry spent $200 million to build the rising sun. In 2010, he sold the yacht to music mogul David Geffen.
airplane
Over the years, Larry has traveled the world in Gulfstream V. At some point, he upgraded to the $75 million Gulfstream G650. In 2013, he bought an airline called Island Air to help bring guests to Lanai. He also owns two military fighter jets, a retired Soviet MiG-29 and a SIAI-Marchetti S.211. He is not allowed to fly the Mig-29 in the United States because the U.S. government considers this aircraft a weapon of war.
