Lawrence Joseph Ellison (born August 17, 1944) is an American businessman, entrepreneur, and philanthropist who is co-founder, chief executive officer and chief technology officer of Oracle Corporation. In June 2018, he was listed by Forbes magazine as the fifth richest man in the United States and the 8th richest person in the world, with a fortune of $ 54.5 billion.
Ellison was born in New York City and grew up in Chicago. He studied at the University of Illinois at Urbana-Champaign and the University of Chicago without graduation before moving to California in 1966. While working at Ampex in the early 1970s, he became influenced by Edgar F. Codd's research on relational database design, in 1977 for the establishment of what became Oracle. Oracle became a successful database vendor for medium and low-range systems, competing against Sybase and Microsoft SQL Server, causing Ellison to be listed by Forbes as one of the world's richest men.
Ellison has donated up to 1% of his fortune to charity and has signed The Giving Pledge. In addition to his work at Oracle, Ellison has succeeded in yachting, through Oracle Team USA. He is a licensed aircraft pilot who has two military jets.
Video Larry Ellison
Early life and education
Larry Ellison was born in New York City, an unmarried Jewish mother. His biological father was a United States Air Force Air Force pilot. After Ellison had pneumonia at the age of nine months, his mother gave it to his aunt and his uncle for adoption. She did not see her mother again until she was 48 years old.
Ellison moved to the South Coast of Chicago, then a middle-class neighborhood. She remembers her adoptive mother as a warm and loving person, unlike her very loud, unfavorable, and often distant father, who adopted Ellison's name to honor her entry point to the United States, Ellis Island. Louis Ellison is a government employee who has produced a small fortune in Chicago real estate, only to lose it during the Great Depression.
Although Ellison grew up in a Jewish Reformed home by his adoptive parents, who attended the synagogue on a regular basis, he remained skeptical of religion. Ellison states: "While I think I am religious in one sense, certain dogmas of Judaism are not the dogma I am playing I do not believe they are real They are interesting stories They are interesting myths, and I certainly respect people who believes this is absolutely true, but I do not.I see no evidence for this. "At the age of thirteen, Ellison refused to hold a bar mitzvah celebration. Ellison said that his affair with Israel was not related to religious sentiment, but rather because of Israel's innovative spirit in the technology sector.
Ellison left the University of Illinois at Urbana-Champaign after the second year, did not take the final exam, because her adoptive mother had just died. After spending the summer in Northern California, he attended the University of Chicago for a semester, where he first discovered the computer design. In 1966, aged 22, he moved to Northern California.
Maps Larry Ellison
Initial and Oracle career
1977-1994
During the 1970s, after a brief stint at Amdahl Corporation, Ellison began working for Ampex Corporation. His projects included a database for the CIA, which he named "Oracle". Ellison was inspired by a paper by Edgar F. Codd on a relational database system called "The Relational Data Model for Large Joint Data Banks". In 1977, he founded Software Development Laboratories (SDL) with two partners and an investment of $ 2,000; $ 1,200 of that money belongs to him.
In 1979, the company changed its name to Relational Software Inc., and in 1982, officially became Oracle Systems Corporation after its flagship product, Oracle Database. Ellison had heard of IBM System R's database, also based on Codd's theory, and wanted Oracle to achieve compatibility with it, but IBM made this impossible by refusing to share the System R code. The initial release of Oracle in 1979 called Oracle 2; no Oracle 1. In 1990, Oracle laid off 10% of its workforce (about 400 people) for losing money. This crisis, which virtually resulted in corporate bankruptcy, arose because of Oracle's "in advance" marketing strategy, where sales people urged potential customers to buy large amounts of software at once. The sales people then order the value of future license sales in the current quarter, thus increasing their bonuses. This becomes a problem when future sales then fail to materialize. Oracle eventually had to restate its earnings twice, and had to resolve a class action lawsuit arising from overestimating its earnings. Ellison will then say that Oracle has made an "incredible business mistake".
Although IBM dominates the mainframe relational database market with DB2 and SQL/DS database products, it delays entering the market for relational databases on Unix and Windows operating systems. This leaves the door open for Sybase, Oracle, Informix, and ultimately Microsoft to dominate the mid-range and microcomputer systems. Around this time, Oracle fell behind Sybase. From 1990 to 1993, Sybase was the fastest growing database company and database industry vendor, but soon became a victim of merger mania. Sybase's 1996 merger with Powersoft resulted in a loss of focus on its core database technology. In 1993, Sybase sold the rights to database software running under the Windows operating system to Microsoft Corporation, which now markets it under the name "SQL Server".
In the early years at Oracle, Larry Ellison was named Award Recipient in the High Technology Category for the EY of the Year Employers Program.
1994-2010
In 1994, Informix took over Sybase and became Oracle's most important rival. A great battle between Informix CEO Phil White and Ellison was Silicon Valley news on the front page for three years. In April 1997, Informix announced large revenue and revenue revenues. Phil White eventually landed in prison, and IBM absorbed Informix in 2001. Also in 1997, Ellison was appointed director of Apple Computer after Steve Jobs returned to the company. Ellison resigned in 2002, saying "my current schedule does not allow me to attend enough formal board meetings to ensure the role of director." With the defeat of Informix and Sybase, Oracle enjoyed years of industry dominance until the advent of Microsoft SQL Server in the late 1990s and IBM's acquisition of Informix Software in 2001 to complement their DB2 database. In 2013, Oracle's main competition for new database licenses on UNIX, Linux, and Windows operating systems comes from IBM DB2 and from Microsoft SQL Server, which runs only on Windows. IBM DB2 still dominates the mainframe database market.
In 2005, Oracle Corporation paid Ellison $ 975,000 salary, $ 6,500,000 bonus, and other compensation of $ 955,100. In 2007, Ellison earned a total compensation of $ 61,180,524, including a $ 1,000,000 base salary, a cash bonus of $ 8,369,000, and an option $ 50,087,100. In 2008, he received a total compensation of $ 84,598,700, which included a $ 1,000,000 base salary, a cash bonus of $ 10,779,000, no stock grant, and a given option of $ 71,372,700. In the year ended May 31, 2009, he made $ 56.8 million. In 2006, 2010-present
The European Union approved the acquisition of Oracle against Sun Microsystems on January 21, 2010, and agreed that Oracle's acquisition of Sun "has the potential to revitalize key assets and create new and innovative products". The acquisition of Sun also provides Oracle control over the popular MySQL open source database, which Sun has acquired in 2008. On August 9, 2010, Ellison denounced Hewlett-Packard's board for dismissing CEO Mark Hurd, writing that "the HP board only makes the worst decision personnel since the idiot on the Apple board fired Steve Jobs a few years ago. "(Ellison and Hurd are close friends). Then on September 6, Oracle hired Mark Hurd as vice president with Safra Catz. Ellison remains in his current role in Oracle.
In March 2010, the Forbes billionaires list placed Ellison as the sixth richest man in the world and the third richest American, with a net worth of an estimated US $ 28 billion. On July 27, 2010, The Wall Street Journal reported that Ellison was the best paid employee in the last decade, garnering a total compensation of US $ 1.84 billion. In September 2011, Ellison was listed on the Forbes billionaires list as the fifth richest man in the world and still the third richest American, with a net worth of approximately $ 36.5 billion. In September 2012, Ellison was again listed on the Forbes billionaires list as the third richest American citizen, behind Bill Gates and Warren Buffett, with a net worth of $ 44 billion. In October 2012, he was listed just behind David Hamilton Koch as the eighth richest man in the world, according to Bloomberg Billionaires Index. Ellison has shares in Salesforce.com, NetSuite, Quark Biotechnology Inc., and Astex Pharmaceuticals. In June 2012, Ellison agreed to buy 98% of Hawaiian island Lana'i from David Murdock, Castle & amp; Cooke. Prices are reported between $ 500 million and $ 600 million. In 2005, Ellison agreed to complete a four-year insider trading insider by offering to pay $ 100 million for charity in the name of Oracle.
In 2013, according to Wall Street Journal , Ellison earned $ 94.6 million. On September 18, 2014, Ellison appointed Mark Hurd to Oracle's CEO from his previous position as President; Safra Catz also became CEO, moving from her role as CFO. Ellison took over the position of chief technology officer and chief executive.
In November 2016, Oracle bought NetSuite for $ 9.3 billion. Ellison owns 35% of NetSuite at the time of purchase making it $ 3.5 billion in person.
As of June 2018, Ellison's net worth was about $ 54.5 billion, according to Forbes.
Personal life
Ellison has been married and divorced four times.
- Adda Quinn from 1967 to 1974.
- Nancy Wheeler Jenkins from 1977 to 1978. They married six months before Ellison founded Software Development Laboratories. In 1978, the couple divorced. Wheeler submitted any claim on his husband's corporation for $ 500.
- Barbara Boothe from 1983 to 1986. Boothe is a former receptionist at Relational Software Inc. (RSI). They have two children, David and Megan, who are film producers at Skydance Productions and Annapurna Pictures, respectively.
- Melanie Craft, a romance novelist, from 2003 to 2010. They married on December 18, 2003, on the Woodside plantation. Ellison's friend Steve Jobs, former CEO and co-founder of Apple, Inc., is an official wedding photographer, and Representative Tom Lantos was unveiled. They divorced in 2010.
Ellison made a brief cameo appearance in the 2010 film Iron Man 2 . In 2010, Ellison bought a 50% stake in the Open Paribas BNP tennis tournament. Ellison has many exotic cars, including the Audi R8 and McLaren F1. His favorite is Acura NSX, known as a gift every year during the production period. Ellison is also rumored to be the owner of Lexus LFA and Lexus LS600hL.
Yachting
Following the success of Maxi yachts racing, Ellison founded BMW Oracle Racing for the 2003 Louis Vuitton Cup.
BMW Oracle Racing was the "Challenger of Record" on behalf of the Golden Gate Yacht Club of San Francisco for the 2007 American Cup in Valencia, Spain, until eliminated from the Louis Vuitton Cup 2007 selection challenger series in the semi-finals. On February 14, 2010, the 17th Ellison cruiser won the second race (in the best of the three "deed prize" series) of the 33rd American Cup, having won the first race two days earlier. Securing a historic victory, Ellison and his BMW team of Oracle became the first challengers to win a "gift deed" game. The Cup returned to the American coast for the first time since 1995. Ellison served as a crew member in the second race. Previously, Ellison had filed several legal challenges, through the Golden Gate Yacht Club, against the way Ernesto Bertarelli (also one of the richest men in the world) proposed to organize the 33rd American Cup after the 2007 victory of Bertarelli's Alinghi team. The race was finally held in February 2010 in Valencia.
In 2002, the Oracle Ellison team introduced the kite race into the American Cup environment. Fly flying kites last about 30 minutes in New Zealand.
In 2010, Ellison ended its stake in the world's eighth largest cruise ship, named Rising Sun. He sold the rest of his shares on a yacht to David Geffen's music and movie mogul. Rising Sun is 453 feet (138 meters) long, and is reportedly costing more than $ 200 Ã, million to build. He was "downsized" to Musashi, a 288-foot (88-meter) yacht built by Feadship. On September 25, 2013, Oracle Ellison Team USA defeated Team Emirates New Zealand to win the 34th American Cup in San Francisco Bay, California. The Oracle USA team has been sentenced to two points in the final due to cheating by several members of the team during the World Cup warm-up event.
Oracle Racing lost the 2017 America Cup to the New Zealand Team.
Flights
Ellison is a licensed pilot who has owned several aircraft. He was quoted by the city of San Jose, California, for breaching his limit on late night takeoff and landings from San Jose Mineta International Airport by plane weighing more than 75,000 pounds (34,019 kg). In January 2000, Ellison sued the interpretation of airport rules, stating that his Gulfstream V aircraft was "certified by the manufacturer to fly with two weights: 75,000 pounds, and at 90,000 pounds, for heavier weights or longer flights requiring more fuel But the pilot only landed a plane in San Jose when it weighed 75,000 pounds or less, and had logs to prove it. "US District Judge Jeremy Fogel ruled in favor of Ellison in June 2001, calling for the release of Ellison's jet but did not cancel the curfew.
Ellison also has at least two military jets: the SIAI-Marchetti S.211, the designed training aircraft in Italy, and the disabled MiG-29, to which the US government has refused permission to import.
Tennis
In 2009, Larry bought Indian Wells Tennis Garden tennis facilities in California's Coachella Valley and the Indian Wells Masters tournament, both still have.
House
Ellison arranged about $ 110 million of her, Woodside, California, a plantation after feudal Japanese architecture, complete with a 2.3 acre (2,300m 2 artificial lake) and extensive seismic retrofit. In 2004 and 2005 he bought over 12 properties in Malibu, California, for more than $ 180 million. Ellison's $ 65 million spent on five contiguous spots at Malibu's Carbon Beach made it the most expensive housing transaction in US history until Ron Perelman sold Palm Beach, Florida for $ 70 million that same year. The entertainment system costs $ 1 million, and includes a stone-concert video concert projector at one end of a dried pool, using a gaping hole as a gigantic subwoofer.
In early 2010, Ellison bought Astor's Beechwood MansionÃ, â € "previously the Astor family's summer home - in Newport, Rhode Island, for $ 10.5 million. In 2011 he purchased 249 acre Porcupine Creek Estate and a private golf course in Rancho Mirage, California, for $ 42.9 million. This property was once the home of the founders of Yellowstone Club, Edra and Tim Blixseth, and was sold to Ellison by creditors after their divorce and bankruptcy. On June 21, 2012, Hawaii governor, Neil Abercrombie, stated that Ellison had signed an agreement to purchase a large portion of Lanai Island from Castle & Pastry company, owned by David H. Murdock. After purchase, Ellison owns 98% of Lanai, the sixth largest island in Hawaii.
Philanthropy
In 1992, Ellison destroyed his elbow in a high-speed bike accident. His search for a highly skilled orthopedic surgeon took him to Dr. Michael W. Chapman at the University of California, Davis. Impressed by his concern, Ellison donated $ 5 million to finance Lawrence J. Ellison Musculo-Skeletal Research Center. In 1998, Lawrence J. Ellison Ambulatory Treatment Center opened on the Sacramento campus of UC Davis Medical Center.
To resolve the insider trading suit that arose from Ellison's sale of nearly $ 1 billion of Oracle shares, he was allowed to donate $ 100 million to his own charitable foundation without admitting a mistake. A California judge refused to allow Oracle to pay Ellison's $ 24 million legal fee. Ellison's lawyer argued that if Ellison had to pay a fee, it could be considered a plea of ​​guilt. A charitable contribution to Stanford University raises questions about the independence of two Stanford professors who evaluate the case benefits for Oracle. In response to the September 11 terrorist attacks, Ellison made a controversial offer to donate software to the federal government that would allow him to build and run national identification databases and issue ID cards.
The Forbes donation list 2004 made by the 400 richest Americans states that Ellison has donated $ 151,092,103, about 1% of his estimated personal wealth. In June 2006, he announced he would not honor the previous $ 115 million pledge to Harvard University, claiming it was due to the departure of former President Lawrence Summers. Oracle spokeswoman Bob Wynne announced, "This is really Larry Summers' idea and when it seems Larry Summers is leaving, Larry Ellison will reconsider... [I am] Larry Ellison and Larry Summers who originally came up with this idea. " In 2007, Ellison pledged $ 500,000 to fortify a community center in Sderot, Israel, after discovering that the building was not fortified against rocket attacks. Other charitable contributions by Ellison include a $ 10 million donation to Friends of the Israel Defense Forces in 2014, about which he said: "In my mind, there is no greater honor than supporting some of the bravest men in the world... Men and this woman comes along with a tireless goal, to defend Israel and to fight for peaceful coexistence. "In 2017, Ellison donated $ 16.6 million to the Friends of the Israel Defense Forces. His contribution will support the construction of welfare facilities on the new campus for joint military service.
In August 2010, it was reported that Ellison was one of 40 billionaires who had signed "The Giving Pledge". Ellison wrote: "Years ago, I put almost all of my assets into trust with the intention of giving at least 95% of my wealth to charitable causes.I have given hundreds of millions of dollars for medical and educational research, and I will give billions more much from time to time.Until now, I have been doing this quietly because I have long believed that charity is a personal and personal matter. "
In May 2016, Ellison donated $ 200 million to the University of Southern California to establish a cancer research center: Lawrence J. Ellison Institute for Transformative Medicine of USC.
Politics
Ellison was critical of NSA whistle-blower Edward Snowden, saying that "Snowden has not identified one person who has been" wrongly injured "by NSA data collection". He has donated to Democrats and Republicans, and by the end of 2014 has hosted Republican Senator Rand Paul at a fundraiser at his home.
Ellison is one of the top donors for PAC's Conservative Solutions, a super PAC that supports 2016 Rubel presidential bid in 2016. In February 2016, Ellison has given $ 4 million in total to PAC.
See also
- Ellison Medical Foundation
References
Further reading
- Symonds, Matthew (2004). Softwar: Inside Portrait of Larry Ellison and Oracle . Simon & amp; Schuster. ISBN: 978-0-7432-2505-2.
- Stone, Florence M. (2002). Oracle of Oracle: The CEO Story of Volatile Larry Ellison and the Strategies Behind the Phenomenal Success of His Company (1 ed.). AMACOM. ISBN: 978-0-8144-0639-7.
- Wilson, Mike (2003). The Difference Between God and Larry Ellison: * God Does not Think He's Larry Ellison . Harper Paperbacks. ISBN: 978-0-06-000876-5. Ã,
- Filion, Avra ​​Amar (2014). Ellison Effects . Press Motivation. ISBN: 978-1-6286-5124-9.
External links
- Profile in Oracle Corporation
- Profile in Forbes
- Profile on Bloomberg L.P.
- Biography on BBC News
- Appearance in C-SPAN
- Larry Ellison at Charlie Rose
- Larry Ellison on IMDb
- "Larry Ellison collects news and comments". The New York Times .
- Works by or about Larry Ellison in the library (WorldCat catalog)
- The work by Larry Ellison in the Open Library
Source of the article : Wikipedia
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