Name↓ Lawrence Ellison
Net worth (USD)↓ $39.5 billion increase
Citizenship↓ United States
Residence↓ United States
Sources of wealth↓ Oracle Corporation
Lawrence Ellison Bio
Lawrence Ellison is a self made billionaire through his founding of Oracle Corporation and its commanding lead in the computer software industry.
Born to a mother who was not married, Ellison was eventually given up for adoption to his aunt and uncle at the age of nine months. Ellison would later meet his real biological mother at the age of 48. Ellison grew up in a Jewish neighborhood and was raised by his middle class family. Ellison was close with his adoptive mother but has said that he was not close with his adoptive father. His adoptive father took the name Ellison from his first United States city Ellis Island where he came to be an American citizen.
Larry Ellison has a current net worth in 2011 of thirty nine and a half billion American dollars (USD). At an age of sixty six, Ellison still serves as chief executive officer of Oracle, a position which he has held since 1977 when he founded the company. Ellison’s main sources of wealth are from Oracle in the form of salary, stock options, and other compensation.
Growing Through Acquisitions
Oracle has grown over the years through its acquisitions to expand itself into other fields and enjoy its dominating market shares. Some of the more notable acquisitions are:
• Peoplesoft – January 2005
• Siebel Systems – January 2006
• BEA Systems – January 2008
• Sun Microsystems – August 2009
• Art Technology Group – November 2010
The recent Sun Microsystems acquisition was an intense battle between IBM, Oracle, and Hewlett Packard which was won out by Ellison’s company and will likely add to earnings for Oracle.
Hobbies Outside of Oracle
Ellison is an avid outdoor sports enthusiast. Ellison enjoys yachting, and competes in the American Cup every year. Tennis is a sport that Ellison starting playing in 2004 and enjoyed so much that he took an ownership stake in a tournament for players held each year, the BNP Paribas Open. Ellison is a licensed pilot and owns a private jet which is in San Jose.
Ellison owns several homes, including his seventy million Woodside, California home. Cars like the Audi R8 and McLaren F1 can be found in garages of Ellison’s.
Ellison has been active in giving away money over the past couple of years. He recently signed “The Giving Pledge” offering to give away 95% of his net worth to charitable causes when he passes away.
After the September 11th events, Ellison tried to donate to the United States government by offering to help secure the databases made by the United States government and help with better identification cards. Ellison has given money to Stanford University and until the departure of the president was going to donate to Harvard University as well.