Silicon Valley heavyweight, Larry Ellison, makes a comeback
Larry Ellison, the 79-year-old visionary behind Oracle, is a towering figure in the tech industry, often referred to as the 'Grand Old Man' of the sector. Born in the Bronx, New York at the end of World War II, Ellison's life journey has been nothing short of extraordinary.
Ellison's early years were marked by hardship. At a young age, he was sent to live with his great-aunt and uncle in Chicago due to a bout of pneumonia. His only marketable skill would come much later, in the form of computer programming, a talent he honed in high school.
In 1977, Ellison founded Oracle with a modest $2,000 investment. The company, initially a revolutionary relational database company, has since undergone a significant transformation. Once heavily reliant on 'mature cash flows,' Oracle seemed destined to fade into the annals of history. However, the company has found a news lease of life in the AI industry.
Oracle's recent news has been reflected in a surge of the company's shares last month, following the announcement of a 'bumper outlook.' This surge has seen Ellison's personal wealth increase by 14% 'overnight,' adding billions to his estimated net worth of $158 billion. The turnaround has also led to a near doubling of Oracle's market capitalization, reaching approximately $400 billion, making it a major player in the cloud-based infrastructure of large language models, such as ChatGPT.
Ellison's business ventures extend beyond Oracle. He has been supportive of various ventures, sitting on the board of Theranos, backing Tesla, and being a long-time supporter of Donald Trump. His expensive tastes are well-documented, with purchases including sailing boats, tennis tournaments, and the Hawaiian island of Lanai.
Despite his wealth, Ellison's personal life has been marked by periods of estrangement. He lost touch with his mother completely until 1991. However, the turnaround of Oracle seems to have brought a new chapter in Ellison's life. As the seventh richest person on Earth, he continues to shape the tech industry, embodying the spirit of innovation and entrepreneurship that has come to define the sector.
