Larry Ellison’s Net Worth (Updated 2022)
About Larry Ellison’s Net Worth
Ellison currently owns 22% of Oracle. He has pledged 315 million shares as collateral for loans and personal debt. He has made approximately $9 billion from Oracle stock sales and dividends since 2003.
Larry Ellison’s Net Worth (Updated 2022) is estimated to be $97.6 billion.
Larry Ellison Biography
|Nick Name/Celebrated Name:||Larry Ellison|
|Birth Place:||Bronx, New York, United States|
|Date Of Birth/Birthday:||17 August, 1944|
|Age/How Old:||77 years old|
|Height/How Tall:||In Centimeters – 191 cm
In Feet and Inches – 6’2”
|Weight:||In Kilograms – 77 kg
In Pounds – 156 lbs
|Parents Name:||Father – N/A
Mother – Florence Spellman
|School:||South Shore High School, Chicago|
|College:||University of Illinois|
|Social Media Accounts|
|Wife/Spouse Name:||Melanie Craft (m. 2003, d. 2010)|
|Kids/Children Name:||Yes (4)|
|Profession:||American businessman and philanthropist|
|Net Worth:||$97.6 billion|
Larry Ellison’s entire life had been challenging and demanding. His full name was Lawrence Joseph Ellison. He was born to Florence Spellman, a Jewish unwed mother. Larry was diagnosed with pneumonia at the age of nine months. Larry was later adopted by her aunt. Larry had repeatedly admitted in interviews that her adopted mother was far more loving and kind than his adopted father, Louis Ellison.
Despite coming from a middle-class family, Ellison had to work extremely hard to achieve success. Ellison has never been successful in his marriages. Ellison had four failed marriages between 1967 and 2010.
On August 17, 1944, in New York City, Lawrence Joseph Ellison was born. His biological father was an Italian-American who served in the United States Army Air Corps. He did not meet his biological mother until the age of 48. Ellison relocated to the South Side of Chicago. His adoptive mother was a wonderful woman. His adoptive father was a distant relative who had chosen the name Ellison to commemorate his point of entry into the United States.
Larry has five children and has been married four times. From 2003 to 2010, he was married to his most recent wife, romance novelist Melanie Craft. Steve Jobs, Larry’s close friend, served as the official wedding photographer at their ceremony. He has two children from his third marriage to Barbara Boothe, whom he married from 1983 to 1986. David and Megan Ellison, his two children, are film producers.
Larry has given at least $400 million of his personal wealth to various charities to date. He’s also taken The Giving Pledge.
Ellison has five children from four marriages. Between 1983 and 1986, he was married to Barbara Boothe. David and Megan Ellison, his two children, are both film producers. Ellison went public with Oracle in 1986. It was one day before long-time rival Bill Gates went public with Microsoft. Larry owned 39 percent of Oracle at the time of its IPO. By the end of the first day of trading, Oracle had a market capitalization of $270 million, giving Larry a paper net worth of $105.3 million.
In 1990, the company was on the verge of going bankrupt. Oracle had a few months of cash left in the bank after losing more than half of its market cap. Ellison owns 22% of Oracle and has a fortune in excess of $70 billion. Ellison has pledged 315 million shares as collateral for loans and personal debt. He has made approximately $9 billion from Oracle stock sales and dividends since 2003.
Larry Ellison’s net worth is estimated to be around $97.6 billion as of June 2022.
Here are a few of Larry Ellison’s career highlights:
- Co-founder of Oracle Corporation
- Listed by Bloomberg Billionaires Index as the ninth-wealthiest person in the United States (2021)
Larry Ellison’s Professional Life and Achievements
Larry Ellison’s career has been difficult at times. Apart from being the Chief Technology Officer and founder of Oracle, Ellison had also enjoyed doing other things during his career. Ellison also made cameo appearances in films such as Iron Man 2 in 2010.
Ellison is also rumored to have bought a 50% stake in the BNP Paribas Open tennis tournament. Ellison founded SDL (Software Development Laboratories) in 1977 with two partners. In 1997, the American Academy of Achievement bestowed upon him “The Golden Plate” award. In 2013, he was inducted into the “Bay Area Business Hall of Fame.”
Investing in Tesla
Larry Ellison quietly spent around $1 billion over several months in 2018 to acquire 3 million Tesla shares. He and Elon Musk have been friends for a long time. He owned 1.7 percent of Tesla at the time he disclosed his stake to the SEC. After the company did a 5-1 stock split in August 2020, his 3 million shares became 15 million.
Those 15 million shares were worth as much as $13 billion at various points in 2021, but on average were worth less than $10 billion.
Real Estate and Houses
Larry’s real estate holdings include homes in Hawaii, Japan, Malibu, Lake Tahoe, San Francisco, and Rhode Island. His primary residence is a 45-acre estate in Woodside, California, valued at at least $200 million. The mansion is based on a Japanese estate from the 16th century. It is spread across 45 acres and includes the main house, a two-bedroom guest house, three cottages, a barn converted into a gym, and a 3-acre man-made lake with two waterfalls. After the local township assessed his property at $173 million and handed him the tax bill, Ellison challenged the value and won, receiving a 60 percent tax reduction on his “$70 million” property.
Larry spent $180 million between 2004 and 2005 acquiring 12 properties in Malibu, California. He spent $65 million on five contiguous properties on Malibu’s ultra-exclusive Carbon Beach. In 2010, he paid $10.5 million for the Astor family mansion in Newport, Rhode Island. Larry spent $43 million in 2011 to purchase the 249-acre Porcupine Creek Estate golf course in Rancho Mirage, California.
Larry paid $80 million for a mansion in Palm Beach, Florida in April 2021. The estate includes a 15,500-square-foot mansion, several pools, a tennis court, and a sports center on 7.35 acres of oceanfront property. Larry purchased the Palm Beach mansion as his first step toward leaving California. The long-time California resident had expressed open dissatisfaction with ever-increasing taxes and other intrusions on businesses.
By relocating from California to Florida, Larry avoided paying California’s Franchise Tax Board’s 13 percent annual income tax rate. Larry has received $1.7 billion in dividends from Oracle EVERY YEAR for the last decade. He saves $230 million in taxes just on dividend payments by relocating to Florida. That equates to $644,000 in savings per day of Florida residency. At that rate, Larry would have paid for his new $80 million Florida mansion in FOUR MONTHS.
Larry spent $300 million in June 2012 to buy 98 percent of the Hawaiian island of Lanai from Castle & Cooke. Hawaii owns the remaining 2%. Larry also acquired Lanai’s Four Seasons hotel as part of the transaction. He is said to have spent $500 million of his own money on infrastructure upgrades such as roads, a water treatment facility, and a cutting-edge movie theater.
Ellison, a lifelong tennis enthusiast, owns the Indian Wells Tennis Garden and the Indian Wells Masters Tournament in Coachella, California. He loves to sail. His Oracle Team USA team won the America’s Cup in both 2010 and 2013. Larry was the owner of the 12th largest yacht in the world, Rising Sun, for many years. Rising Sun cost Larry $200 million to construct. In 2010, he sold his yacht to music mogul David Geffen.
What Does Larry Ellison Do With His Money?
Larry Ellison invests in real estate, tennis, and vacations.
Assets of Larry Ellison
Larry Ellison is well-known for owning numerous properties around the world. Some of them include his $110 million home in Woodside, California. He also owns a Japanese feudal architecture on 0.9 hectares of land. Larry Ellison purchased more than 12 properties in Malibu, California, between 2004 and 2005, according to reports. The properties are valued at more than $180 million.
Ellison has stated in numerous interviews that he has had a lifelong fascination with automobiles. He has a large collection of luxury vehicles, including the Acura NSX, Audi R8, Mercedes McLaren F1, and many others.
Other Purchases by Larry Ellison
Ellison enjoys tennis and owns the Indian Wells Tennis Garden in California. Rising Sun, the world’s 12th largest yacht, was his for many years.
Planes by Larry Ellison
Ellison has flown around the world in a Gulfstream V. In 2013, he purchased Island Air to assist in bringing visitors to Lanai. He also owns two military fighter planes, one a decommissioned Soviet MiG-29 and the other a SIAI-Marchetti S.211.
Larry Ellison’s Life Lessons
Now that you know everything there is to know about Larry Ellison’s net worth and how he achieved success, let’s look at some of the lessons we can take from him:
When you innovate, you must be prepared for everyone to tell you that you’re insane.
The Modern Cloud
We believe that a modern cloud allows you to choose when to upgrade. We do not make decisions for you.
Look After Your Employees
Taking care of your employees is critical and extremely visible.
Larry Ellison’s life story is very heartwarming and inspiring. The career of Larry Ellison can teach the younger generation a lot. He has shown that money is not the only factor that can propel you to the pinnacle of success.
Larry Ellison is an American billionaire entrepreneur who founded the software giant Oracle. He held the position of CEO until 2014. He is one of the world’s wealthiest people, trailing only Jeff Bezos, Bill Gates, Warren Buffett, and Bernard Arnault. He has held the title of the highest-paid executive in the world on several occasions.
Larry Ellison’s net worth is estimated to be around $97.6 billion as of June 2022.