Suddenly leaping to the top of the billionaires' list at 81, Larry Ellison managed to surpass Elon Musk to become the wealthiest person in the world. His success story is as riveting as a Hollywood script. At birth, his mother entrusted him to relatives, and his early life was spent in poverty. However, an illuminating idea during his education turned his fortune around, eventually earning him the title of the world's wealthiest person. Let's dive into his remarkable success story...
Soaring to Number-1 with a 41% Stock Surge
First, let's discuss the tremendous achievement Ellison attained on Wednesday, September 10. Oracle Corporation's stellar quarterly results had a pronounced impact on its shares, resulting in an astonishing 41% uplift within a single trading day.
Thanks to the rapid stock surge, Larry Ellison's net worth rocketed by $101 billion in just 24 hours, soaring to $393 billion, which dethroned Elon Musk's $385 billion net worth. Though fluctuations in property values followed, this impressive feat marked Ellison's peak moment.
Source: aajtak
48 Years Without Meeting His Mother
At 81, Larry Ellison is a pioneer in the tech sector and has, for the first time, earned the title of the wealthiest person on the planet. His early years were full of turbulence, but his grit and resilience played a crucial role in his achievements. Born in June 1944 in New York, his Jewish mother handed him over to relatives when he was just 9 months old. Reports claim that Ellison never saw his mother's face until he was 48.
Ellison's early life was marked by poverty. Despite limited focus on academics, he attended the University of Chicago but eventually dropped out to pursue a different plan, which turned out to be a turning point.
Dropped Studies for Coding Brilliance
Choosing to leave his studies midway, Larry Ellison relocated to California, where he worked at various companies. During this time, he engaged in multiple tech projects, acquiring deep insights into coding and software. In 1977, in collaboration with friends Bob Miner and Ed Oates, he founded Software Development Laboratories in Santa Clara, California, with a mere $2,000. Five years later, they renamed their company Oracle after a CIA project code name. It went public on the stock market in 1986.
Source: aajtak
CEO for Nearly Four Decades
Once listed, Oracle Corporation steadily climbed the ladder of success. From its inception until September 2014, Larry Ellison held the position of Chief Executive Officer (CEO). According to Forbes, Ellison owned nearly the entire company by 2012.
After nearly four decades at the helm, Ellison relocated to Lanai Island in Hawaii, of which he owned 98% after a $300 million investment in 2012. Despite stepping down as CEO, he remains actively engaged with Oracle as Chairman and Chief Technology Officer at 81.
Five Marriages and Two Children
Larry Ellison, now the wealthiest man worldwide, has had a personal life often in the spotlight due to his five marriages. His first marriage, to Adda Quinn in 1967, ended in 1974. In 1977, he wed Nancy Wheeler, but it lasted only a year. His third marriage to Barbara Boothe took place in 1983 and lasted three years.
Ellison's fourth wife was Melanie Craft, whom he married in 2003. This union lasted over seven years. His fifth marriage was to Jolene Zhu, who is approximately 47 years his junior. He is a father to two children: David Ellison and Megan Ellison.
