Larry Ellison Net Worth 2024

What is Larry Ellison’s Net Worth and Salary?

Larry Ellison is an American billionaire entrepreneur who has a net worth of $128 billion. Larry Ellison earned his monumental fortune because the founding father of software program large Oracle. He additionally served as CEO till September 2014.

Larry Ellison owns round 42% of Oracle. He has pledged round 1/4 of his shares as collateral in opposition to traces of credit score and private debt. Since 2003, he has earned round $12 billion from Oracle inventory gross sales and dividends.

Larry additionally owns roughly 1.5% of Tesla. A we element within the subsequent part beneath, Larry spent about $1 billion shopping for his Tesla stake over the course of 2018. At varied factors in recent times when Tesla has had a market cap of $1 trillion, that 1.5% stake was price $15 billion.

Larry Ellison’s net worth makes him one of many richest individuals on this planet behind different tycoons like Jeff Bezos, Bill Gates, Warren Buffett and Bernard Arnault. For a short interval within the Nineties, Larry was the richest individual on the planet when his net worth topped Bill Gates’, as Microsoft inventory slumped because of to the Department of Justice’s antitrust investigation. During his years as CEO, Larry was persistently considered one of, if not the, highest paid government on this planet, recurrently incomes north of $90 million in some years as primary comp, not even together with dividends or inventory gross sales.

Larry took Oracle public on March 12, 1986. Coincidentally, that was in the future earlier than lifelong rival Bill Gates took Microsoft public. At the time of the IPO Larry owned 39% of Oracle. By the top of the primary day of buying and selling, Oracle had a market cap of $270 million which meant that Larry ended the day with a paper net worth of $105.3 million. In 1990, Oracle discovered itself perilously near chapter. After dropping greater than 50% of its market cap, Oracle solely had just a few months of money left within the financial institution. Larry, who had seen his private net worth drop from round $500 million to $150 million was virtually ousted from the corporate.

In June 2012 Larry paid $300 million for the Hawaiian island of Lanai.

Tesla Investment

Over a interval of months in 2018, Larry Ellison quietly spent round $1 billion to amass 3 million shares of Tesla. He and Elon Musk are longtime associates. At the time he revealed his stake to the SEC, he owned 1.7% of Tesla. His 3 million shares grew to become 15 million after the corporate did a 5-1 inventory break up in August 2020.

At varied factors in 2021, these 15 million shares had been price as a lot as $13 billion, however on common nearer to $10 billion. He left the Tesla Board in August 2022.

Personal Life

Larry has been married 4 instances and has two youngsters. He was married to his most-recent spouse, romance novelist Melanie Craft, from 2003 to 2010. Larry’s good buddy Steve Jobs served because the official marriage ceremony photographer at their ceremony. He has two youngsters from third spouse Barbara Boothe, whom he was married to from 1983 to 1986. His two youngsters, David and Megan Ellison, are movie producers.

To date, Larry has donated not less than $400 million of his private wealth to varied charities. He has additionally signed The Giving Pledge. In May 2016, Ellison donated $200 million to the University of Southern California to ascertain a most cancers analysis middle, the Lawrence J. Ellison Institute for Transformative Medicine of USC.

Homes and Real Estate

Larry’s actual property portfolio contains properties across the globe together with properties in Hawaii, Japan, Malibu, Lake Tahoe, San Francisco, and Rhode Island. His major residence is 45-acre property in Woodside, California, that’s doubtless price not less than $200 million. The mansion is modeled after a sixteenth century Japanese property. It spans 45-acres and contains a primary home, a two-bedroom visitor home, three cottages, a barn transformed to a fitness center and a 3-acre man-made lake that options two waterfalls. After the native township assessed his property at a worth of $173 million and handed Ellison the tax invoice, he challenged the worth and gained, receiving a 60% tax reduce on his “$70 million” property.

Between 2004 and 2005, Larry spent $180 million to amass 12 properties in Malibu, California. He spent $65 million on 5 contiguous properties on Malibu’s ultra-exclusive Carbon Beach. In 2010, he spent $10.5 million to amass the Astor family mansion in Newport, Rhode Island. In 2011, Larry spent $43 million to purchase the 249-acre Porcupine Creek Estate golf course in Rancho Mirage, California.

In April 2021, Larry paid $80 million for a Palm Beach, Florida mansion. Situated on 7.35 acres of oceanfront property, the property has a 15,500-square-foot mansion, a number of swimming pools, tennis court docket and sports activities middle. In August 2022, he listed it on the market at $145 million.

Larry purchased the Palm Beach mansion as his first step in the direction of giving up his California residency. The longtime-California resident had be overtly annoyed by ever-increasing taxes and different intrusions on companies.

By uprooting from California to Florida, Larry was not on the hook for California’s Franchise Tax Board 13% annual earnings tax price. Over the final decade, Larry has acquired $1.7 billion in dividends from Oracle EVERY YEAR. By transferring to Florida he saves $230 million in taxes simply on these dividend funds alone. That works out to $644,000 in financial savings each single day of Florida residency. At that price, Larry paid for all the $80 million value of his new Florida mansion after simply FOUR MONTHS.

Gemini

In June of 2022, Larry was revealed to be the purchaser of a 16-acre property close to Palm Beach, Florida known as Gemini. Larry paid $175 million for Gemini. The vendor, fellow billionaire tech entrepreneur Jim Clark, bought the home 15 months earlier for $94 million. At the time of the sale, Larry’s $175 million buy worth slid into third place on our checklist of the most costly properties offered in US historical past. Here’s a tour of Gemini:

Lanai

In June 2012, Larry spent $300 million to amass 98% of the Hawaiian island of Lanai from the Castle & Cooke firm. The different 2% is owned by the state of Hawaii. With the acquisition Larry additionally acquired Lanai’s Four Seasons resort. He has reportedly spent $500 million of his personal cash on infrastructure enhancements together with roads, a water remedy facility and state-of-the-art movie show.

Other Toys

A lifelong tennis fanatic, Ellison owns the Indian Wells Tennis Garden in Coachella, California, and the Indian Wells Masters Tournament which he bought for $100 million. Reportedly, he has since invested one other $100 million into the membership. He is an avid sailor. His Oracle Team USA crew gained the 2010 and 2013 America’s Cups. For a few years Larry owned the twelfth largest yacht on this planet, Rising Sun. Larry spent $200 million constructing Rising Sun. He offered the yacht to music mogul David Geffen in 2010.

Planes

For a few years Larry traveled the globe on a Gulfstream V. At some level he upgraded to a $75 million Gulfstream G650. In 2013, he purchased an airline known as Island Air to assist convey friends to Lanai. He additionally owns two navy fighter jets, a decommissioned Soviet MiG-29 and an SIAI-Marchetti S.211. He just isn’t allowed to fly the Mig-29 within the United States as a result of the US authorities considers the airplane a weapon of battle.