Last Updated on March 17, 2024 by Ben
Larry Ellison and an American business leader, entrepreneur, and philanthropist, founded Oracle Corporation. He has a net worth of $75.5 billion, making him one of the world’s wealthiest men. He has used his considerable fortune to establish various charity foundations and make significant investments in various businesses.
His effect is felt in various areas, from software development to renewable energy. He also contributes to medical research and education projects. Larry Ellison’s success story serves as motivation for budding entrepreneurs all over the world who aspire to be as successful as him.
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What is Larry Ellison’s Net Worth and Salary?
Larry Ellison is a wealthy entrepreneur from the United States with a net worth of $108 billion. Larry Ellison made his wealth as the creator of the software behemoth Oracle, and he was also CEO until September 2014. Ellison’s net worth places him among the world’s wealthiest people, including Jeff Bezos, Bill Gates, Warren Buffett, and Bernard Arnault.
Larry was the world’s richest person briefly in the 1990s when his net worth surpassed Bill Gates while Microsoft shares fell owing to the Department of Justice’s antitrust probe. Larry has been the highest-paid executive in the world at various times, earning more than $90 million in some years.
On March 12, 1986, Larry took Oracle public, and that was one day before long-standing rival Bill Gates went public with Microsoft public. Larry held 39% of Oracle at the time of the IPO. By the end of the first day of trading, Oracle had a market cap of $270 million, giving Larry a paper net worth of $105.3 million.
Oracle was on the verge of going bankrupt in 1990. After losing more than half of its market cap, Oracle had only a few months of cash in the bank. Larry, whose net worth had dropped from about $500 million to $150 million, was on the verge of being fired from the corporation.
Tesla Investment
Larry Ellison quietly paid roughly $1 billion over several months in 2018 to acquire 3 million Tesla shares. He and Elon Musk have been pals for a long time, and he owned 1.7% of Tesla when he disclosed his investment to the SEC. After the corporation executed 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 periods in 2021 but, on average, were worth less than $10 billion.
Personal Life
Larry has five children and has been married four times. From 2003 through 2010, he was married to his most current wife, romance novelist Melanie Craft. Steve Jobs, Larry’s close buddy, served as the official wedding photographer for their ceremony.
He has two children from his third marriage to Barbara Boothe, whom he married from 1983 until 1986. David and Megan Ellison, his two children, are film producers.
Larry has given at least $400 million of his riches to numerous charities. He’s also taken The Giving Pledge.
Larry Ellison Net Worth Details
Ellison now owns 22% of Oracle. He has offered 315 million shares as collateral for credit lines and personal debt. He has made approximately $9 billion from Oracle stock sales and dividends since 2003.
Homes and Real Estate
Larry’s real estate portfolio includes mansions in Hawaii, Japan, Malibu, Lake Tahoe, San Francisco, and Rhode Island, among other places. His primary property is a 45-acre mansion in Woodside, California, estimated to be valued at least $200 million.
The mansion is built after a Japanese estate from the 16th century. It sits on 45 acres and includes a main house, a two-bedroom guest house, three cottages, a barn turned into a gym, and a 3-acre artificial lake with two waterfalls. After the local municipality assessed his property at $173 million and sent him the tax bill, Ellison challenged the value and won, obtaining a 60% tax reduction on his “$70 million” property.
Larry invested $180 million in buying 12 houses in Malibu, California, between 2004 and 2005. He invested $65 million on five adjacent properties on Carbon Beach in Malibu. He paid $10.5 million for the Astor family estate in Newport, Rhode Island, in 2010. Larry paid $43 million to purchase the 249-acre Porcupine Creek Estate golf course in Rancho Mirage, California, in 2011.
Larry spent $80 million for a Palm Beach, Florida mansion in April 2021. The estate contains a 15,500-square-foot residence, numerous pools, a tennis court, and a sports center on 7.35 acres of oceanfront property.
Larry purchased the Palm Beach property as his first move in leaving California. The long-time California resident expressed dissatisfaction with ever-increasing taxes and other intrusions on businesses.
After relocating to Florida, Larry was no longer subject to California’s Franchise Tax Board’s 13% yearly income tax rate. Larry has collected $1.7 billion in dividends from Oracle EVERY YEAR for the last decade. He saves $230 million in taxes on dividend payments by relocating to Florida, equating to $644,000 in savings every day of Florida residency. Larry would have paid for his new $80 million Florida estate in FOUR MONTHS at that pace.
Gemini
Larry was reportedly the buyer of Gemini, a 16-acre estate near Palm Beach, Florida, in June 2022. Gemini cost Larry $175 million. The seller, Jim Clark, a fellow billionaire internet entrepreneur, purchased the mansion 15 months previously for $94 million. Larry’s $175 million purchase price slipped to third place on our ranking of the most expensive residences sold in US history at the time of the sale. Here’s a look at Gemini:
Lanai
Larry invested $300 million in June 2012 to purchase 98% of the Hawaiian island of Lanai from the Castle & Cooke corporation. The state of Hawaii owns the remaining 2%. Larry also acquired Lanai’s Four Seasons hotel as part of the deal. He is said to have spent $500 million on infrastructure improvements such as roads, a water treatment facility, and a cutting-edge movie theater.
Other Toys
A lifetime tennis fan, Ellison owns the Indian Wells Tennis Garden in Coachella, California, and the Indian Wells Masters Tournament. He enjoys sailing, and his Oracle Team USA team won America’s Cup in 2010 and 2013. Rising Sun, the world’s 12th largest yacht, was owned by Larry for many years. Rising Sun cost Larry $200 million to build. In 2010, he sold the yacht to music mogul David Geffen.
Planes
Larry flew worldwide on a Gulfstream V for many years and eventually upgraded to a $75 million Gulfstream G650. In 2013, he purchased Island Air to assist in bringing visitors to Lanai. He also owns two military fighter planes, one of which is a decommissioned Soviet MiG-29, and the other is an SIAI-Marchetti S.211. He is not permitted to fly the Mig-29 in the United States since the plane is classified as a weapon of war by the US government.
Pros and Cons of Larry Ellison Net Worth
Pros:
- Larry Ellison’s net worth allows him to live a life of luxury, with access to first-rate amenities and services.
- Because of his immense wealth, he has been able to support several charitable organizations, donating large sums of money to causes such as medical research, disaster relief, and educational programs.
- The success of Larry Ellison has inspired other entrepreneurs to strive for success in their enterprises and businesses.
- Because of his riches, he has access to the highest echelons of government and corporate leaders, allowing him to influence the global economy’s policies and decisions.
- His net worth exemplifies what can be accomplished through hard work and determination, inspiring others to follow in his footsteps and achieve financial success.
Cons:
- Because of Larry Ellison’s tremendous fortune, many people feel that such levels of financial success are only attainable by a select few persons with extreme luck or good connections rather than hard work and devotion.
- Because of systematic inequality and a lack of opportunity in some regions and nations, his immense wealth has created a significant gap between himself and many ordinary individuals who need help to come close to obtaining his level of luxury.
- Others with modest resources may grow envious and resentful of others with enormous wealth, such as Larry Ellison, resulting in socioeconomic disparities across communities.
- High levels of inequality can produce a sense of injustice among those without economic advantages, as they believe they cannot better their lives or achieve their goals without the help of wealthy people like Larry Ellison.
Final Thought – Larry Ellison Net Worth
Larry Ellison is one of the world’s wealthiest persons, with an estimated over $80 billion net worth. His income originates from his long and successful career as the founder and CEO of Oracle Corporation, demonstrating that hard work and determination can lead to huge success.