This success story of Larry Ellison inspires us to dream beyond limits, embrace change, and transform challenges into triumphs.
Larry Ellison became the world's richest person in a single day. On September 10, Oracle shares surged, overtaking Tesla CEO Elon Musk to become the world's richest person. Elon Musk, who had held the top spot for about a year, was briefly displaced. With the rise in the stock market, Ellison's wealth increased by USD 101 billion. His wealth surged to USD 399 billion, a dramatic increase from USD 59 billion in 2020. But Elon Musk soon regained the top spot.
New York-born Ellison is the chairman, chief technology officer, and co-founder of software giant Oracle. However, before embarking on this path, he began his career by building databases for the CIA. He was a University of Chicago dropout. Today, his enterprise is the world’s largest in database management.
In 1977, Ellison founded Oracle and guided it as CEO for 37 years, until he stepped aside in 2014. He then decided to step down and was appointed executive chairman and chief technology officer. He is 81 years old and controls around 40 percent of the company’s stock. From December 2018 to August 2022, he also served as a Tesla board member. Over the years, Ellison has held several important roles at the company. He was Oracle's president from 1978 to 1996. He served as chairman twice, from 1990 to 1992. He took a break after a near-death experience in a body surfing accident in 1992. He returned in 1995.
In 2012, he bought the Hawaiian island of Lanai for USD300 million, and later moved there permanently. As of 2020, Ellison's net worth was USD59 billion, a rise of more than 325 percent in just five years. His partner, 33-year-old Jolene Shue, is his fifth wife. He is the father of David Ellison, who produced films such as "The Terminator" and "Mission: Impossible". Ellison's daughter, Megan, is also a filmmaker and entrepreneur.
Larry Ellison was once skeptical of cloud computing. But it is interesting to note that he later became a billionaire as Oracle's cloud services boomed. Oracle’s cloud infrastructure has been experiencing record growth, fueled by soaring demand for artificial intelligence (AI). The company has secured major contracts with organizations like OpenAI and Elon Musk’s xAI. Analysts expect revenue growth to continue as Oracle invests heavily in expanding data center capacity to meet growing demand. Ellison once derided cloud computing as “complete nonsense.” But this once-dismissed business has transformed the company and his life.
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