Oracle founder and billionaire Larry Ellison's net worth, businesses, and homes in Hawaii, Malibu and San Francisco
Harriet Noble
11 July 2018
Larry Ellison's rise to fame and fortune
Larry Ellison co-founded what is now the second largest software company in the world, Oracle Corporation, in 1977. He is now one of the richest people in the world, with a current estimated net worth of $58.5 billion (£44.1bn), according to Forbes. We take a look at his remarkable life story and the other projects he is funding now, including research to prolong human life beyond its current limits.
Tough beginnings
Born Lawrence Joseph Ellison on 17 August 1944 in the Lower East Side of Manhattan, New York City, Ellison had a tough start in life. At the age of nine months, he contracted pneumonia and his mother gave him to her aunt and uncle for adoption.
A childhood in Chicago
Ellison moved to Chicago with his adoptive parents and spent his childhood in an area called Southshore. He didn’t like school much and did not excel academically.
Family ties
Ellison only discovered he was adopted when he was 12 and did not see his biological mother again until he was 48. Ellison has stated that he had a close relationship with his adoptive mother but not his adoptive father, who used to tell Ellison that he wouldn’t amount to anything.
Life lessons
Ellison has often said that some of the difficult times in his early life forced him to grow as a person. “The most important aspect of my personality as far as determining my success goes has been my questioning conventional wisdom, doubting experts and questioning authority," says Ellison. "While that can be painful in your relationships with your parents and teachers, it’s enormously useful in life.”
College dropout
After leaving school Ellison chose to study at the University of Illinois at Urbana-Champaign but he dropped out after his second year when his adoptive mother died. He chose to go back to education and studied for one term at the University of Chicago, where he first got his first taste of computer design. But he never finished his college education.
Ellison's first ventures into IT
In 1966, Ellison moved to Northern California and from there worked at a few software companies, including Amdahl Corporation and Ampex Corporation. He didn't stay long at either company but was learning and working on ideas along the way.
Oracle is born
Ellison founded his first company, Software Development Labs (SDL), in 1977 with two business partners. SDL developed a database management system, which it called Oracle. It was a runaway success and the company went on to be renamed after the database. With a 39% stake in the company, Ellison soon became a millionaire.
Big clients
Oracle made giant databases for notable global companies including IBM, American Airlines and Ford.
Larry Ellison and Bill Gates
Despite financial struggles in the late 1980s, by the 1990s Oracle had established its place as the second largest software company in the world after Microsoft. Much has been made in the media of Ellison's apparent rivalry with Microsoft founder Bill Gates.
Sporting buddies
However, it seems the supposed feud as eased in recent years. The pair were even spotted together watching a tennis match in 2015 with John McEnroe, appearing at ease in each other's company.
Close friendship with Steve Jobs
Ellison also enjoyed a very close friendship with the late Steve Jobs. Ellison admired him greatly and once said: “To model yourself after Steve Jobs is like, ‘I’d like to paint like Picasso, what should I do? Should I use more red?’”
Stepping down
In 2014, Larry Ellison stepped down from his position as Oracle’s chief executive after a 37-year career. He appointed Mark Hurd and Safra Catz to share the post of CEO and went on to become the tech company’s executive chairman and chief technology officer.
A passion for sailing
Away from business, Ellison loves sailing and takes it very seriously. He even started his own racing team, Oracle Team USA, who won the 34th America’s Cup in 2013.
Ellison's property passion projects
Ellison has multiple homes in Malibu, Lake Tahoe, San Francisco and Silicon Valley. One of his houses was bought from film producer Jerry Bruckheimer for $18 million (£13.5m) back in 2013. He is a huge art fan and fills his houses with works from around the world.
Investing in modern art
Ellison also owns the 19th-century Beechwood Mansion, Newport, Rhode Island, which he purchased in 2010 for $10.5 million (£7.1m). Once home to Caroline Astor, the house played host to some lavish parties during the Gilded Age in the 1890s. Now Ellison has plans to convert this house, along with other properties he owns, into a modern art museum.
Property around the world
Converting homes into museums is a passion for Ellison. He has similar plans for a huge historic garden villa in Kyoto, Japan, in the grounds of the Nanzen-ji temple, which was reportedly listed for $86 million (£65m).
Buying an island
Not content with just houses, Ellison bought 98% of the Hawaiian island of Lanai for $300 million (£226m) in 2012. The island includes the luxurious Four Seasons Resort pictured here.
The business that didn't take off
In 2013 Ellison bought the Hawaiian airline Island Air. Hawaii's second carrier offered internal flights around the state, including to Ellison's island of Lanai. But Island Air faced serious competition from Hawaiian Airlines and Ellison sold his controlling interest in the business during 2016.
Game, set and match
A big fan of tennis, during 2009 Ellison purchased the Indian Wells Tennis Garden in California, which hosts the annual BNP Paribas Open each March. Ellison has added many luxury features to the complex including VIP suites with their own bathrooms and fine dining from the restaurant Nobu.
In Frank Sinatra's footsteps
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One of Ellison's most recent purchases is the Cal Neva Resort and Casino, near Lake Tahoe. The hotel fell into bankruptcy in 2016 meaning Ellison could snap it up for $35.8 million (£27m). Once owned by Frank Sinatra, it's hoped Ellison's property company Lawrence Investments can return it to its former glory.
Many marriages
Often described as America's most eligible bachelor, Ellison has been married and divorced four times. His most recent wife Melanie Craft (pictured) is a romance novelist. They walked up the aisle in 2003, with Steve Jobs taking on the role of official wedding photographer. However the couple divorced in 2010.
The 'anti-nerd'
Unlike Bill Gates, Mark Zuckerberg and other IT tycoons, Ellison has often been called the anti-nerd, preferring a glamorous life that includes fast cars and Armani suits. His playboy reputation has also led to him being called the James Bond of the dotcom generation. He can often be seen at parties and sporting events hanging out with other celebrities including his girlfriend, the model and actress Nikita Kahn, pictured here.
Charitable causes close to his heart
It's estimated that Ellison gives 1% of his wealth to charity and he has a long history of donating to education and medical research organisations. Once such establishment is the University of Southern California, which received $200 million (£150m) from Ellison to create a cancer research centre. Ellison also donated generously to the Hit for Haiti tennis charity event, organised by Roger Federer, to raise money for victims of the 2010 earthquake.
A family of high-achievers
Ellison has two children, Megan (pictured) and David, from his third marriage to Barbara Boothe Ellison. Both his children are successful film producers and founded their own production companies. Megan founded Annapurna Pictures, which has produced hits including American Hustle and Phantom Thread. David started Skydance Productions, which made Mission: Impossible – Ghost Protocol, and Star Trek Beyond.
Who wants to live forever?
More recently, Ellison has become fascinated with the idea of prolonging human life. Putting his money where his mouth is, Ellison has investing millions into researching the hormone DHEA, which some scientists think slows the process of ageing.
So what's next?
Earlier this year, Ellison announced the launch of a new company called Sensei. The magnate has said it will be a wellness company and will involve building a hydroponic farm of undisclosed size on his Hawaiian island.
No slowing down
Now 73, with a new company blossoming and numerous projects on the horizon, Larry Ellison shows no sign of slowing down. And if the research he is funding pays off, he could live a very long life. Now read the amazing story of the man with all the money in the world
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