Larry Ellison is a co-founder and Chief Technology Officer of Oracle Corporation. He has been well-known in the technology and business world for many years.
With his visionary leadership and relentless pursuit of innovation, Ellison has amassed an impressive fortune. In this article, WCNetWorth will explore Larry Ellison net worth in 2023, his career accomplishments, and the factors that contributed to his success.
What is Larry Ellison Net Worth and Salary in 2023?
As of February 2023, Larry Ellison had around $121.8 billion in his possession according to Forbes. This huge amount of money placed him as the fourth-richest person globally. His annual salary as the Founder and CTO of Oracle Corporation is $34 billion.
Larry Ellison Overview
Early Life
Born on August 17, 1944, in New York City, Ellison was raised in a working-class Jewish family. Sadly, he never met his biological father and was raised by his aunt and uncle in Chicago.
From a young age, Ellison displayed a keen interest in technology and problem-solving. He developed a passion for mathematics and computers, which he explored through various self-taught endeavors.
Ellison’s thirst for knowledge led him to enroll at the University of Illinois at Urbana-Champaign. However, his academic journey was short-lived as he dropped out after his second year.
Despite not having a formal education, Ellison didn’t let that stop him. In the late 1960s, he went to California and got a job as a programmer at different companies.
During that time, Ellison learned a lot and became really good at computer programming. This experience and skill would be extremely helpful for him in the future.
Career
Ellison’s interest in technology began when he read a paper by Edgar F. Codd about relational database systems. This paper inspired him to explore the world of technology. His fascination with technology led him to start a company called Software Development Laboratories (SDL) in 1977. He co-founded this company with two partners and they only had a small investment of $2,000.
He didn’t realize at the time, but his small business would grow into a huge company called Oracle Corporation. This company became a leader in software and changed how businesses use data.
Ellison is the main leader of Oracle, and his leadership style is described as autocratic. He makes decisions in a way inspired by samurai. He is known for taking complete control of situations and making bold moves, often without seeking input from his team.
This unusual approach might have upset some people, but it has definitely helped Oracle become a huge company. They are now the biggest provider of database software and the second biggest provider of business applications worldwide.
Ellison’s success can be attributed to his deep understanding of the industry and his unwavering commitment to innovation. He possesses an uncanny ability to anticipate technological advancements and embrace them wholeheartedly, even if they defy conventional norms.
Ellison’s determination to come up with new ideas has made him a very important entrepreneur in our time. He is recognized as one of the top leaders in the technology industry, along with Steve Jobs and Bill Gates.
Throughout his illustrious career, Ellison has held various positions within Oracle, serving as its President from 1978 to 1996, and undertaking two stints as Chairman of the Board.
For 37 years, he was the company’s sole chief executive officer, guiding it through numerous challenges and triumphs. In September 2014, Ellison stepped down as CEO but remained actively involved with Oracle as its executive chairman and chief technology officer.
Personal Life
Larry Ellison, the co-founder of Oracle Corporation, has had a complex personal life with multiple marriages and divorces. His first marriage was to Adda Quinn, which lasted from 1967 to 1974.
Ellison’s second marriage was to Nancy Wheeler Jenkins in 1977, just six months before he founded Software Development Laboratories, the precursor to Oracle. However, the couple divorced in 1978, and Wheeler relinquished any claims on Ellison’s company for a settlement of $500.
Ellison’s third marriage was to Barbara Boothe, who had previously worked as a receptionist at Relational Software Inc. (RSI). They were married from 1983 to 1986 and had two children together, David and Megan.
Both children have pursued successful careers in the film industry, with David working as a film producer at Skydance Media and Megan at Annapurna Pictures.
In 2003, Ellison married Melanie Craft, a romance novelist. The couple exchanged vows on December 18, 2003, at Ellison’s Woodside estate. The wedding was notable for having Steve Jobs, the late co-founder and CEO of Apple Inc., as the official photographer, while Representative Tom Lantos officiated the ceremony.
However, Ellison and Craft ended their marriage in 2010, concluding their relationship in divorce.
Why is Larry Ellison Famous?
Larry Ellison’s fame stems from his role as the founder of Oracle Corporation and his significant contributions to the world of technology. His visionary leadership and relentless pursuit of innovation have made him one of the most successful and influential figures in the business world. Ellison’s immense wealth and extravagant lifestyle have also contributed to his notoriety.
FAQs about Larry Ellison
What are Larry Ellison’s major accomplishments?
Ellison co-founded Oracle Corporation, which became the largest supplier of database software and the second-largest supplier of business applications in the world. He also played a crucial role in the development of the first commercially viable relational database.
How did Larry Ellison become an entrepreneur?
Ellison was inspired by Edgar F. Codd’s paper on relational database systems and founded Software Development Laboratories (SDL) in 1977 with two partners and an investment of $2,000.
What are Larry Ellison’s charitable causes?
Ellison has donated hundreds of millions of dollars to medical research and education, including a $200 million donation to the University of Southern California for a cancer treatment research center in 2016. He also signed the Giving Pledge in 2010, committing to donate the majority of his wealth to charitable causes.
Conclusion
In conclusion, Larry Ellison’s net worth is a testament to his visionary leadership, entrepreneurial spirit, and relentless pursuit of innovation. As the co-founder and CTO of Oracle Corporation, Ellison has revolutionized the world of technology and business, amassing an impressive fortune along the way.
Despite his extravagant lifestyle, Ellison remains committed to philanthropy and giving back to society, making him a truly remarkable figure in the world of business and technology.
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