Ellison Larry Larry Ellison

Lawrence Joseph Ellison is the founder and CEO of Oracle Corporation. Also known as Larry Ellison.

Biography

1944: Son of a mother from Odessa

Laurence Ellison didn't have the happiest childhood. Larry Ellison doesn't know what his father's name was. It is only known for certain that Larry's mother was an unmarried emigrant from Odessa. Shortly after arriving in America, she left him in the care of an uncle and aunt living in New York, and disappeared without a trace.

Larry Ellison's surname comes from the name Ellis Island - a filtration point for emigrants from Europe.

He was brought up by his adoptive parents, but his mother died when he was not yet 18, and his father was imprisoned. Lawrence had to take care of himself, and after digging up some money, he moved from the Bronx to the more promising Berkeley. Over the next eight years, Ellison worked part-time wherever he had to, until he got a job at Ampex as a programmer. There he developed his first serious program, a large database called Oracle.

1977: Oracle Founded

In 1977, together with Ampex employee Robert Miner, Lawrence founded Software Development Labs, which mainly consulted corporate clients.

One day, Lawrence came across a document written by an IBM worker describing the concept of Structured Query Language (SQL). IBM did not see the commercial potential of this technology, but Ellison immediately realized how promising the idea was. Together with Miner, they wrote a database program compatible with mainframes and personal computers. Buyers were found quickly and in honor of the same Lawrence database, they decided to rename the company to Oracle. In 1980, only 7 people worked with Lawrence, and the annual income did not exceed a million dollars. After IBM adapted SQL for its computers, Oracle's revenues doubled each year.

1980s: Ellison in Silicon Valley nutrition

From an interview given by the head of the restaurant company Bon Appetit Management Company Fedele Bauccio to Business Insider in early November 2014, it became known how Larry Ellison influenced the food system in Silicon Valley.^[1]

Founded in 1987, Bon Appetit is involved in the construction and maintenance of cafes, restaurants and canteens under corporations and educational institutions. The company is based in Palo Alto near the headquarters of large technology companies such as Google and HP.

"My office was nearby with where venture capitalists were starting to build their companies," Baucho recalled.

He met in Larry Ellison in the late 80s. He asked the head of Bon Appetit to open an Italian Paninoteca coffee shop with cold and hot sandwiches and sandwiches on the territory of Oracle headquarters in Redwood Shores

"As

an Italian I said I could have done it. However, we were confident that this eatery would not last long there, "said Fedele Baucho

.

Paninoteca was opened and then, as Oracle began to expand, several other concept coffee shops appeared on campus. Now there is a Japanese noodle restaurant, an Indian cuisine cafe and even a small market with Mediterranean food.

Larry Ellison as a young man

Similar ideas were adopted by other companies, which at first used huge canteens, but after the initiative, the heads of Oracle abandoned them. It became obvious that small specialized cafes are much preferable, since there you can order food to taste and settle down as you like, said the CEO of Bon Appetit.

Food outlets deployed at Silicon Valley companies, Fedele Baucho called "a random meeting place for ideas," where people communicate closely with each other, and innovative thoughts are born during conversations. At the same time, employees do not have to leave their companies to eat deliciously.

1991: Oracle on the brink of bankruptcy

In 1990, when the company received the status of a leading software manufacturer, the first failures appeared. Managers accustomed to stable growth failed to predict the consequences of the emergence of new players in the market, and for the first time in Oracle's history, its expenses exceeded revenues. Things only got worse in 1991. Oracle sales fell 80% and the company was on the verge of bankruptcy. Laurens replaced most of the executives and managers with the best in his business, and it worked. Thanks to a competent marketing policy and the release of powerful new databases, Oracle managed to return to the previous level. Its products were used by banks, airlines, car companies and supermarkets. And with the proliferation of e-commerce, Oracle's revenues have increased many times over.

2009: In 4th place on the list of the richest people in the world with $22 billion

According to Forbes magazine, as of March 11, 2009 Ellison in the top three richest people in the United States and in fourth place in the global ranking of the rich. His fortune is estimated at $22 billion. At this time, he owns a 22.59% stake in Oracle Corporation .

2012

Plans to buy a sports empire

In October 2012, it became known that Oracle CEO Larry Ellison intends to acquire Anschutz Entertainment Group, owned by billionaire Phil Anschutz. This was reported by Reuters, citing two sources close to the situation. At the same time, Ellison's interest in buying a media group, whose starting price is $10 billion, is "preliminary."

Allison, the third man in the U.S., had recently made an eccentric Ellison by acquiring an island in Hawaii. Buying AEG would allow him to gain control of, for example, a National Football League team and move it to Los Angeles.

Auction events for the sale of AEG are just beginning, this week potentially interested buyers bankers from Blackstone Advisory Partners only sent out the necessary information. The information memorandum, which does not contain financial data, was distributed to dozens of addresses.

Among the assets of AEG, in particular, a stake in the Los Angeles Lakers NBA basketball club, the LA Kings hockey team, as well as more than 100 entertainment and sports centers around the world and the promotion business to promote AEG Live concerts. Interested parties will be able to bid for the AEG purchase auction at the end of October 2012.

Allegations of fraud with the purchase of a subsidiary

Oracle shareholders became interested in the legality of the corporation's 2011 purchase of Pillar Data Systems, Inc, controlled by Larry Ellison (owned by 55% of the company), Bloomberg reported.

Delaware County Judge Leo Strine, who is considering the shareholder complaint, ruled on August 23, 2012 that Oracle shareholders could file a lawsuit against the head of the company. Shareholders were interested in the issue of the legitimacy of the transaction and whether anyone else, in addition to Oracle itself, could benefit from the transaction.

Oracle bought Pillar Data Systems in June 2011. According to the terms of the transaction, payment in advance was not required, and Oracle also received a three-year time-out on the final reporting of the activities of the purchased company. Larry Ellison is alleged to have spent $544m converting into preferred shares of Pillar Data Systems.

The conversion was canceled in exchange for the right to receive part of the income that can be received before 2014 (the end of the time-out).

Shareholders accuse the head of the company of misuse of the giant's resources, citing the purchase of Pillar as an example. According to their statements, the deal had economic benefits only for Ellison himself.

Oracle's board of directors, which includes Ellison, argues that the deferred payment for Pillar proves the lack of a thirst for profit on the part of the Ellison.

According to lawyers, Oracle has not yet paid anything and therefore investors cannot make claims, because there is no fact of transferring money and further tracking where they went. However, the giant will have to cover Pillar's operating costs in the next three years.

"The problem is that Ellison has invested half a billion dollars in this matter and does not want to bear personal responsibility, because the company is worth nothing. This is a bad deal for Oracle shareholders, "said shareholder attorney Stuart Grant

.

2013: Personal Security Costs $1.5M from Oracle

According to Equilar, an analysis of compensation packages for senior managers, in 2013, Oracle spent $1.5 million on Larry Ellison's personal security, one of the highest rates among American companies.

2015: Net worth $50bn

In the ranking of the richest businessmen in the IT industry, which was published by Forbes magazine in early August 2015, Larry Ellison is in second place with a fortune of $50 billion.

At the end of September 2015 , Forbes magazine published the next edition of its ranking of the richest Americans. In it, Larry Ellison closed the top three. Read more here.

In January 2015, Larry Ellison's stake in Oracle was 25%.

2016

Fortune of $51.7 billion

In August 2016, Forbes magazine presented a rating of the richest businessmen in the field of information technology (IT). Larry Ellison's fortune is estimated at $51.7 billion. Read more here.

Fortune of $48.5 billion

In October 2016, Forbes magazine published an updated ranking of the 400 richest people in the United States. For the first time in nine years, Larry Ellison fell out of the top three. By October 2016, Ellison's fortune amounted to $48.5 billion, which was the fifth indicator among the most affluent Americans. Read more here.

2017

Fortune of $59.1 billion, No. 7 in the world

By October 8, 2017, Ellison's fortune reached $59.1 billion, which allowed the businessman to sit in seventh place in the ranking of the richest people in the world.

Halving payouts as required by shareholders

In October 2017, it became known about a two-fold reduction in payments to Oracle co-founder Larry Ellison, who for many years was among the highest paid top managers in the United States. The company reduced the amount of remuneration under prolonged pressure from shareholders, according to The Financial Times (FT).

From documents provided by Oracle to the US Securities and Exchange Commission (SEC) at the end of September 2017, it follows that in the next five years Ellison is entitled to an option on shares worth $103.7 million or $20.7 million per year. This is 47% less than previous share awards and corresponds to a 50% reduction in total payments to the former head of the company.

Larry Ellison's compensation package, which by October 2017 holds the post of technical director of Oracle, includes $17.5 million options, but Oracle did not explain how this amount was formed. The FT notes that the final amount of payments on shares can be significantly increased if the company fulfills the goals laid down in the compensation regulation plan.

Oracle did not guarantee that Allison and other senior employees would not receive more securities payments within five years, although the company says it "does not expect" any additional grants.

According to the publication, there is a risk that within five years Ellison will lose all remuneration, except for the symbolic salary of $1 per year, if the company does not reach the target financial indicators and the rate of quotations. Among the goals are an increase in the value of shares to $80 (64% more than on October 6, 2017) and an increase in revenue and profitability of the cloud business to certain values. This applies not only to Ellison, but to the entire senior management.

So it can be seen as a victory for the biggest institutional investors, who have been critical of the directors "inflated earnings for years.

American public companies must submit to a mandatory shareholder vote a policy of remuneration to top managers and provide reports on CEOs' income (say on pay) for "advisory" approval, but this does not entail any legal obligations. For five years in a row, Oracle shareholders disapproved of management remuneration, but until 2017, the company only slightly reduced payments and added new tasks to the salary formation system.

According to Kirk Hanson, head of the applied ethics center at Santa Clara University, payments to three top Oracle executives have been very high in recent years. Although the say on pay vote has proven effective in terms of drawing attention to inflated salaries, it is too early to judge how Oracle's new financial mechanisms will work in practice, he warns.

In SEC filings, Oracle says management compensation dissatisfaction has been a top topic at shareholder meetings with independent directors, however the issue has received "positive feedback" under the new agreements.

Shareholder dissatisfaction grew significantly after Oracle paid Larry Ellison about $94.6 million in 2012. Then Ellison took first place among the highest paid directors in American companies and by that time earned about $650 million in ten years.^[2]

According to Forbes, by October 8, 2017, Larry Ellison is the seventh richest man in the world with a fortune of $59.1 billion, despite owning a fairly small share of Oracle shares (28%).

2018: Joining Tesla's board of directors

On December 28, 2018, Larry Ellison was announced to join the board of directors of Tesla Motors. The electric car maker complied with a U.S. Securities and Exchange Commission (SEC) requirement as part of the claims settlement.

In addition to Larry Ellison, Tesla's board of directors includes Kathleen Wilson-Thompson, director of human resources at Walgreens Boots Alliance, the world's largest pharmacy company^[3]

The board, led by the Nomination and Corporate Governance Committee, has conducted a thorough and thorough process to find new independent directors, looking around the world at candidates with a wide range of skills who, like Tesla, strongly believe in the mission of accelerating the world's transition to sustainable power, Tesla said in a statement.

In Ellison and Wilson-Thomson, they found prominent leaders as well as those supporting renewable energy, the company added.

The SEC ordered Tesla to invite two new independent directors after the scandal, when the founder and head of the company, Elon Musk, wrote on his Twitter blog about the possible delisting of Tesla and turning it into a private company. The Securities and Exchange Commission reviewed that statement and announced that Musk had misled Tesla investors. As a result, Elon Musk was also forced to leave the post of head of the Tesla board of directors, and this place was taken by Robin Denholm, formerly one of the directors of the board. At the same time, Musk remained the CEO of the company.

As of the end of 2018, Tesla has 11 members on its board, including 3 women. In the fall of 2018, California introduced a requirement for publicly traded companies to have women on boards of directors, becoming the first American state to take such a step.

Reuters The agency calls Larry Ellison a close friend of Elon Musk. Earlier in 2018, the media reported that the founder Oracle had acquired 3 million Tesla shares. By the close of the exchange on December 28, 2018, the value of the company's securities rose by 5.6% and reached $333.87.

Charles Elson, director of the corporate governance center at the University of Delaware, does not consider it objective to include a friend of Musk and a person without experience in an industrial company like Tesla on the Tesla board of directors.

Investors who hope the new objective directors could stand up to Musk are likely to be disappointed with the choice, he noted.

2019

Earnings at Oracle $1.6 million

Larry Ellison for the 2019 fiscal year paid only $1.6 million. Moreover, almost all of this amount fell on the costs associated with ensuring the personal security of the co-founder of the American corporation. In 2018, he earned $108.9 million through receiving bonuses and stock options. Ellison's salary remained nominal - $1. Read more here.

Ownership of a 1.75% stake in Tesla for $1 billion

In January 2019, the size of Larry Ellison's stake in Tesla Motors became known. The founder of Oracle owns 3 million shares of the Oracle electric car maker, according to documents released by the Securities and Exchange Commission, which corresponds to a 1.75 percent stake. By January 8, 2019, the cost of this package is estimated at more than $1 billion.

Thus, Ellison ranks second among Tesla's largest individual investors. In the first place is the founder and CEO of the company, Elon Musk, who owns about 20% of Tesla.

As agency Bloomberg, Larry Ellison notes, he does not own Tesla shares directly, but through the Lawrence J. Ellison Revocable Trust.

Earlier, Ellison said that the purchase of Tesla shares became the second largest investment for the businessman. He also called Elon Musk his "close friend," reports Fortune.

By the close of the exchange on January 8, 2019, the value of Tesla shares rose by 0.12% to $335.35, and the company's market capitalization reached almost $58 billion. At what price Larry Ellison bought Tesla securities is unknown.

In October 2018, Tesla shares traded near 52-week lows and were worth about $250. Quotes collapsed after Elon Musk's statement to buy back the company's shares at a price of $420 apiece using borrowed funds. The entrepreneur said that he had found creditors for privatization, but in fact he did not even negotiate with potential investors.

If we assume that Ellison acquired Oracle shares for $250, then he would have earned about $250 thousand by January 8, 2019. On this date, Larry Ellison ranks seventh in the list of the richest people on the planet with a fortune of $51 billion.

2020

Larry Ellison Called Trump After Election Loss, Started Helping Him Challenge Results

At the end of May 2022, it became known that the chairman of the board of directors Oracle and cofounder Larry Ellison, shortly after the presidential election USA in 2020, participated in a telephone conversation on the strategy of challenging the defeat of the former president, Donald Trump according to an email disclosed in the court document, reports. Reuters

The phone call, which took place on Nov. 14, 2020, is the first known case of a tech industry leader joining Trump allies to discuss a strategy to challenge the election results. Oracle CEO Larry Ellison was involved in a phone call where a number of powerful GOP figures, including Sen. Lindsey Graham, Fox News host Sean Hannity and Trump lawyer Jay Sekulow, were mulling ways to run in the 2020 presidential election.

Larry Ellison was one of the few tech executives to openly back Trump on the 2020 campaign trail. The Desert Sun newspaper reported that he organized a fundraiser for the former president at his Rancho Mirage estate in California. Ellison's proximity to Trump has raised concerns that Oracle may have been in the fight for federal contracts under the former Oracle in the US.

Larry Ellison with a fortune of about $94.5 billion, according to the Bloomberg Billionaires Index of billionaires, Allison is 11th in the list of the richest people in the world for May 2022. American entrepreneur, co-founder, chairman of the board of directors and chief technology officer of Oracle Corporation, former CEO of Oracle, the largest shareholder of NetSuite, the company's initial investor Salesforce.com.

Oracle made a profit in 2020 to help the Department of Health and Human Services collect data on doctors who treat patients with COVID-19 with hydroxychloroquine, a Trump-approved antimalarial drug.^[4]

Larry Ellison decided to raise money in support of Trump

In mid-February 2020, co-founder and executive Oracle chairman Larry Ellison decided to raise money in support of the president USA Donald Trump in the 2020 election, but more than 2,300 employees of the company signed a petition against fundraising.

In the past few years, employees at Amazon, Google, Microsoft and Salesforce have opposed corporate practices they couldn't agree with. now Oracle, known as the supplier of IT technology to the US government, has joined this list. Staff who signed the petition are demanding that Ellison cancel an already-scheduled fundraising event for President Trump's reelection campaign. They argue that Trump's behavior falls short of Oracle's values, one of which is countering corruption and bribery. At the same time, the authors of the petition refer to the impeachment of Trump in December 2019.

Donald Trump's financial support jeopardizes the well-being of women, immigrants, communities of people of other nationalities, LGBT and trans communities, the disabled and workers, and the environment, the petition says. - In addition, Oracle's alliance with this disgraceful political figure damages our company's reputation as well as our relationships with partners and customers.

Oracle declined to comment. It is known that Oracle entered into the first major contracts for providing software for databases with the CIA. Former head of this division Leon Panetta has served on Oracle's board since 2015, and in 2016, Oracle CEO Safra Catz joined President Trump's team. In addition, Oracle has signed a major contract with the Pentagon to introduce cloud services.^[5]

2021

Fortune - more than $100 billion

On April 8, 2021, Larry Ellison's fortune for the first time exceeded $100 billion. This was due to a 1.8 percent increase in Oracle quotes, as a result of which the founder of the company in one day became richer by $1.8 billion.

This is evidenced by the data of the Forbes billionaire rating, which is updated in real time taking into account the market value of assets owned by entrepreneurs. The magazine writes that Ellison's fortune exceeded $100 billion for a short time - on the same day (April 8, 2021), by the closure of American exchanges, the businessman's figure was $99.8 billion. For a short time, Larry Ellison was the sixth person in the world whose capital began to be measured by a 12-digit sum.

The same result was preserved by 17:00 Moscow time on April 9. By this time, Ellison ranks sixth on the list of the richest people on the planet, between Facebook founder Mark Zuckerberg (5th line, $114 billion) and investor Warren Buffett (7th place, $99.6 billion). The title of the richest man on Earth is held by the head of AmazonJeff Bezos, whose fortune is estimated at $192.5 billion.

Most of Larry Ellison's fortune falls on Oracle shares - according to the company's materials, the share of the foundation in it is about 35% (by April 2021). Ellison also has several businesses, expensive real estate and aircraft.

In a publication dated April 8, 2021, Forbes notes that Oracle shares have risen in price by almost 10% over the past two weeks, despite the defeat of the company in a lawsuit with Google, which lasted several years (the court did not see in Google's actions violations of Java rights in Android). In addition, investors are very optimistic about Oracle's growing cloud business, considering it a new competitor for Google, Amazon and Microsoft.^[6]

Fortune - $93 billion

In April 2021, Forbes magazine presented an updated annual ranking of the richest people on the planet. The largest IT billionaires include Oracle founder Larry Ellison (7th place in the ranking, fortune - $93 billion). Read more here.

2022

Investment in Israel's Imagine AI cancer diagnosis platform

On May 3, 2022, the Israeli company Imagine AI, developing a diagnostic platform cancer based on a digitized image of samples, raised biopsies$21.5 million in its first round of funding. It was headed by a co-founder. Oracle Larry Ellison More. here

Fortune - $93.1 billion; 6th in the Bloomberg ranking

In December 2022, Larry Ellison took 6th place in the ranking of the richest people on the planet Bloomberg with a fortune of $93.1 billion. Read more here.

2024: Gaining control of Paramount

In early September 2024, it became known that the founder of Oracle Corporation Larry Ellison will own 77.5% of the National Amusements holding, which is the parent structure of the Paramount Global media company. The rest of National Amusements will be owned by private investor Gerry Cardinale, founder of RedBird. He is listed as the controlling entity of RB Tentpole LP - a partnership that will own 22.5% of the named entity. Read more here

Real estate

For 2012, in addition to Lanai Island, Ellison has other real estate investments: he owns properties in San Francisco, Lake Tahoe and southern California, as well as Newport, Rhode Island, and Japan. In an interview with CNBC, he noted that he intends to turn a number of his mansions into art museums. He also said that he has an interest in unusual houses, since in childhood he dreamed of being an architect.

2012: Buying an island in the Hawaiian archipelago

In 2012, Larry Ellison entered into an agreement to buy 98% of Lanai, one of the 8 key Hawaiian islands.

Upon completion of the transaction, Ellison will receive 88 thousand acres of island land, which before the transaction belonged to another billionaire, David Murdoch. This was stated by Hawaii's Public Utilities Commission.

The Hawaiian Islands are an archipelago of twenty-four islands and atolls located in the North Pacific Ocean (between 19 ° and 29 ° north latitude).

Lanai is the sixth largest island in the Hawaiian archipelago. Also known as "Pineapple Island" because of the pineapple plantation that occupied most of the island in the past. The only settlement is the small settlement of Lanai City. The island has a comma shape and a length of 30 km in the largest direction. The area of ​ ​ the island is 364 km ², is the 42nd largest island in the United States.

Lanai are advertised as the most attractive among the Hawaiian Islands. It is known that there is not a single traffic light on the island, but the lack of transport infrastructure is precisely considered its advantage. The island is home to two Four Seasons hotels and two golf courts, all of which will go to Ellison after the deal.

For hundreds of millions of dollars, Ellison acquired the sixth largest island of Gavai, two gorgeous hotels, two golf courts and more than 3 thousand souls of the population

The amount of the deal was not disclosed, but according to the local government, it is "hundreds of millions of dollars." 3.2 thousand people live on the island. And, according to officials, "Ellison hopes to make significant investments in the development of the island and hopes for the support of the local population in the future."

In the same 2012, Larry Ellison decided to set up a "small laboratory" on the island to develop eco-technologies. In particular, on the island of Lanai, he plans to conduct experiments on desalination of sea water. It also plans to promote the use of electric vehicles on its island. In addition, Ellison intends to increase fruit exports from Lanai to Japan and other markets.

One of the richest people in the world, Larry Ellison, made this statement in early October 2012 in an interview with CNBC. After purchasing Lanai earlier in 2012, the islanders feared how Ellison's appearance would affect their lives. However, he claims that he will "support local residents."

In the same interview, Ellison made a number of other interesting statements. In particular, he announced his interest in buying the Los Angeles Lakers basketball club if it ever goes up for sale. It's his favorite basketball team, Ellison said.

2013: Sale of Lake Tahoe Mansion (USA)

In April 2013, it became known that the odious head of Oracle Corporation Larry Ellison was selling his mansion in Lake Tahoe, USA, for $28.5 million. True, the reason for the sale was not the desire to save on real estate (Ellison owns many expensive objects around the world, including his own island), but the construction of a new estate nearby, which will three times exceed the existing one in size. It is also reported that Ellison's new home in these areas will be located on a 7.6 acre site.

General view of Lake Tahoe mansion and pier

Ellison's house on Lake Tahoe is located on a land plot of 2.62 acres, the area of ​ ​ the house itself is 9,000 square feet. Construction the building itself took three years, construction while many original design solutions were applied, including a special room with full sound insulation, the purpose of which is not specified, and bathrooms Japanese in style in the owner's apartments. In total, the house has six bedrooms and 8 bathrooms, as well as a small fitness room.

Lake Tahoe view opening from Ellison estate pier

Adjacent to the existing home are two piers, a heated water pool right on the lakeside, and 230 feet of scenic sandy beach and shoreline. There are also two guest houses nearby: 1,320 square feet for two bedrooms and 2,930 feet for five bedrooms. Among other amenities of the estate: fully heated roads and entrances to the building, heated patios and sidewalks, air conditioning, alarm systems and exclusive landscaping, sunroom with barbecue on the roof.

Interiors of the estate

Lake Tahoe is a fresh lake in the Sierra Nevada mountain range, located on the border of California and Nevada, USA. Approximately two-thirds of the lake's shoreline is in California. There are a number of high-altitude ski resorts and recreation areas in the lake area. The lake is the second deepest lake in the United States, the eleventh deepest in the world and the fourth deepest.

2021: $80m Palm Beach mansion purchase

In early April 2021, it became known that Oracle co-founder Larry Ellison bought a beachfront mansion in the southeastern district of Florida for $80 million. This is Ellison's third major property purchase.

The Tuscan-style estate sits in a gated apartment complex and covers more than 1,400 square metres, with 157 metres of ocean coast. The estate has a home cinema, wine room, large private terrace with swimming pool and tennis court. It is known to be one of the "few properties in Florida where someone can land and fly by helicopter from an estate."

Ellison bought the mansion from hedge fund manager Gabe Hoffman, who put it up for sale in June 2020, asking for $79.5 million. Ellison's purchase of a Palm Beach mansion is not the only change made by the tech billionaire during the COVID-19 coronavirus pandemic.

In December 2020, he announced that he would move Oracle's headquarters from Redwood Shores (state) California to Austin (state). Texas Following the news, the Oracle co-founder told his staff that he himself had moved to Lanai, a Hawaiian island, 98% owned by Ellison.

I moved to the state of Hawaii and will use Zoom's capabilities to work from Lanai Island, "Allison noted in an email to his employees.

Ellison did not say whether he planned to make the Palm Beach estate his new home. The billionaire also owns an estate in Woodside, California, a home in San Francisco's Pacific Heights neighborhood, several homes on Malibu's "billionaire beach," and several homes on Lake Tahoe.

In addition to Ellison, Palm Beach acquired real estate and other billionaires. In November 2020, billionaire Robert F. Smith bought two houses in Palm Beach for about $48 million. In February 2021, billionaire David Tepper signed a contract for the construction of a mansion worth $73 million.^[7]

Hobby

Oracle Team USA Yacht Team

Larry Ellison owns the Oracle Team USA yacht team, which twice won the America's Cup - one of the most prestigious regattas in the world.

A fan of military aircraft

Larry Ellison is a fan of military aircraft. He owns and operates his own Italian fighter "Marchetti." The Federal Bureau for the Control of Imports of Alcohol, Tobacco Products and Firearms of the United States stopped his attempt to buy a Russian MiG.

Family

Wives

2024: Larry Ellison secretly married a girl who is 47 years his junior

In early December 2024, it became known that 80-year-old Oracle founder Larry Ellison secretly married for the fifth time. His new chosen one was a certain Jolene, who is 47 years younger - she is 33 years old.

Ellison carefully hid the new marriage, but he was given away by University of Michigan football fans. They publicly thanked Oracle's founder and "his wife Jolene," who helped the varsity team lure rising American football star - Louisiana State University's Bryce Underwood.

Larry Ellison and Keren Zhu

Subsequently, it turned out that under the name Jolin, 33-year-old University of Michigan graduate Keren Zhu is hiding. It is known that in 2012 she received a bachelor of arts degree in international studies. It is also noted that Zhu's name appears in the documents of one of Ellison's companies - Octopus Holdings. The girl leads a secretive lifestyle: she has no accounts on social networks, and her name has not previously been mentioned on the Internet.

Larry Ellison was married four times before his wedding to Zhu. His first wife was Ada Quinn, whose marriage lasted from 1967 to 1974. With his second wife - Nancy Wheeler - the billionaire lived from 1977 to 1978. In his third marriage to Barbara But, he had a daughter, Megan, and a son, David, who became film producers. In particular, the daughter owns Annapurna Pictures, while the son founded SkyDance Media. The marriage with But lasted from 1983 to 1986. Then, from 2003 to 2010, Ellison was married to Melanie Craft: at this wedding, his friend, Apple founder Steve Jobs, acted as a photographer.

According to Forbes, Larry Ellison at the beginning of December 2024 ranks third in the list of the richest people in the world. His fortune is estimated at $221.6 billion.^[8]

2003-2010

He was married four times. The first three attempts to establish family life ended in divorce due to the inconsistency of Lawrence. December 18, 2003 Ellison once again married the writer Melanie Craft.

Melanie Kraft and Larry Ellison

They were married between December 2003 and September 2010. Melanie Craft changed no activities before she began to write novels. An interesting fact from the biography of the spouses - the official photographer at their wedding in 2003 was the head of Apple Steve Jobs.

Son David and daughter Megan

The son of Oracle Corporation CEO Larry Ellison reached the peak of his career in Hollywood. David Ellison works for Skydance Productions, while Ellison's own daughter, Megan Ellison, is also employed in the film industry and works for Annapurna Pictures.

Over the past few years, David has become one of Hollywood's most influential producers. He produced another film series, Star Trek Into Darkness. This is the twelfth full-length science fiction film set in the world of Star Trek.

Larry Ellison's son David turns out to be a producer in Hollywood

Officially, work on the film was announced by Paramount Pictures in 2010. In early 2010, Paramount Pictures announced that the film would be released on June 29, 2012. The premiere took place in Sydney on April 23, 2013, and world distribution began on May 9, 2013.

He also funded two more blockbusters that will be released in the summer of 2013: the original titles "World War Z" (humanity fights against zombies) and "G.I. Joe: Retirement" (action). Allison Jr. also promised to soon release Mission: Impossible 5 and Top Gun 2.

Along with his sister Megan, David is going to produce "Terminator - 5"

David's sister Megan has also already taken part in the creation of several films, including Zero Dark Thirty and Spike Jonze's new film Her, she is working with David on True Grit, and together they gathered to put their hand to the release of Terminator (Terminator 5).

Daughter's real estate

In November 2013, it became known that Megan Ellison, film producer and daughter of Oracle founder Larry Ellison, sold three villas in the prestigious Los Angeles area without unnecessary noise, according to blogger The Real Estalker.

The 27-year-old heiress of Ellison's millions purchased these houses between 2008 and 2011 for a total of $33 million. The girl's net profit from the sale of real estate amounted to $14.5 million.

The prestigious area is called "The Birds" (literally - birds), since most of the streets here bear the corresponding names. It's a favorite spot for many celebrities, including popular Hollywood actors Leonardo DiCaprio, Jenifer Aniston and George Harrison.

The first of the villas previously owned by Megan Ellison was sold in August 2013 for $21 million to Ted Waitt, also a computer billionaire. The other two were acquired by billionaire heiress Ashley Tabor for a total of $26.25 million.

All three villas are located in the upscale Los Angeles neighborhood

House at 9258 Nightingale Drive sells for $21m

Houses on the same street number 9262 and 9280 (in the picture) sold for $26.25 million

Panoramic view opening from one of the villas

The most scandalous quotes

Larry Ellison is one of the most shocking top managers in the IT industry, second, perhaps, only to Steve Jobs - during his time at the helm of Oracle Corporation (since 1977) he uttered many phrases that then went down in history. He especially did not spare competitors, not bothering to choose politically correct epithets. Below are Ellison's most scandalous and memorable quotes, which, however, he never refused.

• 2007, about Leo Apotheker: "Oracle filed a lawsuit against SAP in 2007, accusing it of illegally downloading Oracle software. Former SAP head Leo Apotheker was already at the helm of HP at that time . We subpoenaed him in the SAP case, but HP's board sent him to Bolivia to negotiate with clients. He was then sent to negotiate in Mongolia, just out of reach of a federal subpoena... later, the council realized that they needed to leave Leo in Mongolia at all. "

• 2008, on cloud computing: "The interesting remark about cloud computing is that we're creating cloud computing again: we've all done it before... The computer industry is even more dependent on trends than women's fashion. I may be an idiot, but I don't understand at all what this is about in relation to cloud computing. What is it? It's totally ludicrous. It's crazy. When will this insanity stop?. "

• 2008, about cloud computing: "We are preparing announcements of new cloud solutions, because, you know, if orange is the new pink, then we will sew orange blouses. I mean, I'm not going to fight it... "

• 2010, on Mark Hurd: At the moment of Mark Hurd's difficulties as CEO of HP, which ended with his dismissal, Ellison was very supportive of his friend. He sent a letter to The New York Times regarding his dismissal with these comments: "Are you going to change Mark Hurd to Leo? That's the best idea since Apple's board fired Steve Jobs. Just brilliant. " Ellison then recruited Hurd to serve as president of the corporation.

• 2011, on Steve Jobs (after death): "Trying to become like Steve Jobs is like reasoning like," I want to become like Picasso. What should I do? Perhaps use more red?. "

• 2012, about cloud computing: "I stood at the origins of NetSuite, NetSuite was my idea. I called Evan Goldberg and said: "We are going to supply ERP via the Internet, software as a service." Six months later, Marc Benioff, having figured out what NetSuite was planning, completely copied it. "

• 2012, on the purchase of Lanai Island: "It will be, if you like, a small business sustainability laboratory using a small scale example."

• 2012, about SAP competitors: "When SAP, and especially Hasso Plattner, talk about how they are going to build an in-memory database and compete with Oracle, I say:" Lord, give me the contacts of their pharmacist, they must be under drugs. "

• 2012, on investments: Ellison a big philanthropist, especially in terms of investments in medical programs and research to combat age-related changes. He also participated in the creation of NetSuite and Salesforce.com many years ago, but the latter became a serious competitor to Oracle in the future. Ellison said: "I will never be involved in any start-ups again in my life." However, quite recently he invested in another startup for the computer detection of narcotic substances.

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