Larry Ellison Net Worth
Larry Ellison has an estimated net worth of $96.9 billion. He is the founder and CEO of Oracle Corporation, which earned him a spot as fifth wealthiest person in the world in 2014. He earned the majority of his income from Oracle Corporation.
Lawrence Joseph Ellison, better known as Larry Ellison, is an American billionaire entrepreneur and theoretical computer scientist, co-founder of Oracle, which he holds 35% and was CEO from 1977 to 2015. 2 He is considered eccentric because of his extravagant tastes. He is one of the most famous billionaires and ranked as the 7th largest private wealth in the world in 2021, according to Forbes magazine.
On September 18, 2014, Oracle announced that Ellison was stepping down as CEO of the company, effective immediately, after which he would serve as chief technology officer. In his place, Mark Hurd and Safra Catz were appointed CEOs. In this way, Ellison parted with a position he had held for 37 years since the company’s founding in 1977.
To calculate the net worth of Larry Ellison, subtract all his liabilities from his total assets. Investments, savings, cash deposits, and any equity he has in a house, car, or other similar asset are included in the total assets. All debts, such as loans and personal debt, are included in total liabilities.
Here’s the breakdown of his net worth:
|Net Worth:||$96.9 billion|
|Monthly Salary:||$400 Million+|
|Annual Income:||$5 billion+|
|Source of Wealth:||Businessperson, Investor|
Background and Early Career
Larry Ellison was born on August 17, 1944, in the Bronx, New York, to single mother Florence Spellman. Ellison contracted pneumonia when he was nine months old, and his mother sent him to Chicago to be raised by her aunt and uncle, Lillian and Louis Ellison, who adopted the baby.
Ellison attended the University of Illinois, Champaign (1962), where he was named science student of the year. Ellison dropped out of college after his adopted mother died during his second year. He enrolled at the University of Chicago the following fall, but dropped out after only one semester.
Ellison then packed his belongings and moved to Berkeley, California, with little money, where he worked for the next decade at companies such as Wells Fargo and Amdahl Corporation. Ellison had picked up basic computer skills between college and his various jobs, and he was finally able to put them to use as a programmer at Amdahl, where he worked on the first IBM-compatible mainframe system.
Ellison and two of his Amdahl colleagues founded Software Development Labs in 1977, and soon had a contract to build a database-management system for the CIA, which they called Oracle. The company had fewer than ten employees and annual revenue of less than $1 million, but when IBM agreed to use Oracle in 1981, the company’s sales doubled every year for the next seven years. Ellison quickly renamed the business after its best-selling product.
Oracle Corporation held its initial public offering (IPO) in 1986, but accounting issues helped wipe out the majority of the company’s market capitalization, and Oracle was on the verge of bankruptcy. However, following a management shakeup and a product-cycle refresh, Oracle’s new products took the industry by storm, and by 1992, the company was the industry leader in database management.
Success continued, and because Ellison was Oracle’s largest shareholder, he became one of the world’s wealthiest people. Ellison set his sights on acquisitions, and over the next few years he wentbbled up several companies, including PeopleSoft, Siebel Systems, and Sun Microsystems, all of which helped Oracle reach a market cap of roughly $185 billion with approximately 130,000 employees by 2014.
When he isn’t busy expanding his software empire, Ellison races yachts (his yacht Rising Sun is over 450 feet long, making it one of the world’s largest privately owned vessels), and in 2010 he joined the BMW Oracle racing team and won the prestigious America’s Cup. The win returned the Cup to the United States for the first time in 15 years, a feat that the team repeated in 2013.
Lessons From Larry Ellison
Be sensitive to opportunities
In your entrepreneurial journey you will be faced by innumerable number of challenges. Virtually every day or week will have its own peculiar problem. For many people business will seem to move at snail speed, or not moving at all, tempting you to want to quit and close shop.
But then, suddenly, unexpectedly, a wonderful opportunity will present itself; an opportunity that can change your business story and life story forever. That big break always definitely comes. The million dollar question is; will you be ready when it comes?
Read through the entrepreneurial stories of many great entrepreneurs, from Steve Jobs to Zhou Quinfei, they endured through difficult and tough periods but then the big break came.
Through the thick clouds of challenges search ceaselessly for that silver lining. Be sensitive and ready for life changing opportunities because it would definitely come.
Ellison had been in the software industry for quite some time, from doing menial jobs of backing up data to writing programs. He was just like every other computer geek, until he came across the journal on Relational database and then he ceased the opportunity.
Today, he is known by millions across the world for one thing; the Oracle database, which was built on the Relational database.
Everyone makes mistakes
Ellison would later describe it as ‘an incredible business mistake’. He thought he was doing the perfect thing, and for a time his strategies seemed to work, but only for his sales team to ruin the process by trying to out-profit themselves. Ellison had several promotions that he organized for his sales team where each person is rewarded heavily depending on how much sale they make. The rewards were enormous, and with Ellison motivating them every day ‘to go for Gold’ (because sometimes they were rewarded in real gold coins), the sales team went to whatever length to get sales, including recording future sales in the current month or recording sales that the money had not materialized yet.
In any business journey, mistakes after mistakes will be made. It doesn’t matter how much mistake is made, what matters most is your reaction/response to it; do you allow it beat you down and push you out, or do you rise up, make necessary changes and forge ahead?
Favorite Larry Ellison Quotes
“If you do everything that everyone else does in business, you’re going to lose. The only way to really be ahead, is to ‘be different’.”
“A corporation’s primary goal is to make money. Government’s primary role is to take a big chunk of that money and give it to others.”
“See things in the present, even if they are in the future.”
“When you innovate, you’ve got to be prepared for everyone telling you you’re nuts.”
“Act confident, even when you’re not.”
“The things that caused problems for me in school are the same things that help me succeed in the world.”
“The most important aspect of my personality as far as determining my success goes; has been my questioning conventional wisdom, doubting experts and questioning authority. While that can be painful in your relationships with your parents and teachers, it’s enormously useful in life.”
“Life’s a journey. It’s a journey about discovering limits.”
View our larger collection of the best Larry Ellison quotes.
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How To Become Rich Like Larry Ellison?
Larry Ellison did not become rich by luck. To become as rich as Larry Ellison, you have to work smart.
Successful people become rich because they take advantage of the opportunities that come their way. They are in the right place at the right time and take the right action.
Thanks to the Internet, the world has changed massively in recent years. Nowadays it has become much easier to make money online.
Instead of looking for a 9-5 job and staying in your comfort zone, it’s better if you become your own boss as soon as possible.
You can learn how to build a digital asset that generates cash flow for you while you sleep to grow your wealth quickly.
If you seize this golden opportunity in time, you can become as successful as Larry Ellison one day.