Definition
Larry Ellison is not a financial term but a person. He is the co-founder, executive chairman, and chief technology officer of Oracle Corporation, a multinational technology company that specializes in computer software products and database systems. Ellison is a well-known business magnate and philanthropist, with a significant net worth stemming from his leadership and innovation in the tech industry.
Phonetic
The phonetic pronunciation of the name “Larry Ellison” is:/ˈlæri ˈɛlɪsən/
Key Takeaways
- Larry Ellison is the co-founder, executive chairman, and Chief Technology Officer (CTO) of Oracle Corporation, a multinational computer technology company specializing in database management systems.
- He is one of the wealthiest people in the world, often ranking in the top 10 on the Forbes Billionaires List, and is known for his competitive nature, philanthropy, and involvement in various sports, including sailing and tennis.
- Despite dropping out of college, Ellison went on to become a successful entrepreneur, and under his leadership, Oracle has grown into one of the largest technology companies globally, providing a wide range of software and cloud-based solutions for businesses.
Importance
Larry Ellison is an important figure in the world of business and finance due to his significant contributions to the tech industry and his role as the co-founder, executive chairman, and chief technology officer of Oracle Corporation. Oracle, a multinational computer technology corporation, has played a crucial role in revolutionizing the enterprise software and technology market. Larry Ellison, as a key driving force of the company, has not only amassed significant personal wealth, but has also had a lasting impact on the global economy, job creation, and technological innovation. His strategic vision, entrepreneurial spirit, and business acumen have led Oracle to be one of the largest software and technology services providers worldwide, solidifying his legacy in the business and finance sectors.
Explanation
Larry Ellison is not a finance or business term, but rather a renowned entrepreneur and business magnate known primarily as the co-founder, chairman, and chief technology officer (CTO) of the multinational technology corporation, Oracle. Established in 1977 and initially named Software Development Laboratories (SDL), Oracle has grown to become one of the largest and most successful global technology companies, with its core product being the Oracle Database, a powerful and efficient database management system. Ellison played a pivotal role in the company’s success, building Oracle into a formidable player in a highly competitive market.
Ellison’s innovative spirit and keen business acumen have significantly influenced the tech industry, leading Oracle to become an essential technology provider for numerous companies worldwide. His purpose has involved guiding Oracle in its development of innovative database and cloud computing solutions, which are widely used in managing vast amounts of data across various sectors. Furthermore, Ellison was at the forefront of driving the company to actively pursue acquisitions to bolster its products and services.
By the end of the day, Larry Ellison’s entrepreneurial journey has been a testament to perseverance, risk-taking, and innovative thinking. These qualities and his leadership have propelled Oracle not only to establish itself in the technology industry but also to actively participate in shaping its future.
Examples
Larry Ellison is not a business/finance term; he is a renowned entrepreneur and the co-founder of Oracle Corporation. However, I can provide three real-world examples that highlight his impact on the business and finance world:
1. Oracle Corporation: Larry Ellison co-founded the software company Oracle in 1977, which has since become one of the largest tech companies specializing in database management systems, enterprise software, and cloud computing solutions. As the founder and former CEO of Oracle, Ellison has significantly impacted the tech industry and created immense wealth for himself and the company’s shareholders.
2. NetSuite Acquisition: In 2016, Larry Ellison played a pivotal role in Oracle’s acquisition of NetSuite, which is a cloud-based software service company providing Enterprise Resource Planning (ERP) and Customer Relationship Management (CRM) solutions. Oracle acquired NetSuite for $9.3 billion, making it one of the largest software deals in history. Ellison’s foresight in investing in cloud-based technology has been a significant factor in Oracle’s ongoing success and competitive advantage in the software industry.
3. Personal investments: Aside from Oracle, Larry Ellison has made strategic investments in various sectors, including the medical and leisure industries. He has invested in companies such as Salesforce, Astex Pharmaceuticals, and Quark Biotech, showcasing his willingness to back novel ideas in diverse fields.
Additionally, Ellison owns the Hawaiian island of Lanai, which he purchased in 2012. He has since invested in sustainable infrastructure, agricultural advancements, and eco-tourism projects on the island, further demonstrating Ellison’s impact on the business and finance world.
Frequently Asked Questions(FAQ)
Who is Larry Ellison?
Larry Ellison is an American entrepreneur, businessman, and philanthropist, best known as the co-founder, executive chairman, and chief technology officer of the multinational computer technology corporation Oracle.
What is Larry Ellison’s background?
Born in 1944, in New York City, Larry Ellison was adopted by his aunt and uncle at a young age. He attended the University of Illinois without obtaining a degree and later attended the University of Chicago for one term before dropping out.
How did Larry Ellison become successful in the finance/business world?
Ellison’s career took flight in 1977 when he co-founded Software Development Laboratories with two colleagues. They later renamed it Oracle after their flagship product, Oracle Database. Oracle Corporation eventually became one of the largest technology companies in the world, making Ellison one of the wealthiest individuals globally.
What is Larry Ellison’s net worth?
As of 2021, Larry Ellison has an estimated net worth of around $93 billion, making him one of the top ten wealthiest people in the world.
What are some notable achievements of Larry Ellison?
Ellison received the Golden Plate Award of the American Academy of Achievement in 1996, was inducted into the California Hall of Fame in December 2006, and was awarded the Woodrow Wilson Award for Corporate Citizenship in September 2007, among numerous other accolades. He is also known for his passion for sailing and competitive yachting.
Does Larry Ellison have any philanthropic initiatives?
Yes, Ellison is a noted philanthropist. In 2016, he ranked as the fourth-most generous philanthropist in America, having donated over $2 billion to various causes, including healthcare, education, and wildlife conservation. Ellison has signed the Giving Pledge, which commits him to giving away at least half of his wealth during his lifetime or in his will.
Is Larry Ellison involved in any other businesses aside from Oracle?
Ellison has diversified his investment portfolio over the years, acquiring stakes in companies like Tesla, Salesforce, and NetSuite. He also owns Lanai Island in Hawaii and has invested in multiple real estate properties, luxury yachting, and Japanese-inspired architecture.
Related Finance Terms
- Oracle Corporation
- Software Entrepreneur
- Database Management Systems
- NetSuite Inc.
- Tech Billionaire
