Larry Ellison – small bio

Name Larry Ellison
Founder/Co-Founder Founder of Oracle
Born on 6 November 1968 AD
education University of Chicago
Net worth $53.6 billion

Lawrence Joseph ‘Larry’ Ellison is an American businessman, best known as the co-founder and CEO of billion dollar software company- ‘Oracle Corporation’.

He was a university dropout who was highly inclined towards the newly developing computer design system and in pursuit of success moved to California from Chicago. He started out by developing databases for CIA and quickly escalated to the idea of forming his own company, after developing the database ‘Oracle’. He co-founded ‘Software Development Laboratories’, which later came to be known as ‘Oracle Corporation’, with an initial investment of $2000. Ellison is a man who achieved brilliance against all odds because of his courage, talent, strong ideas and hard work.

 

Career

  • After dropping out of the university, Ellison, during 1970s, started working with the Ampex Corporation. He worked to develop databases, in particular for CIA; a program that he named ‘Oracle’.
  • In 1977, Ellison founded his own company under the name of ‘Software Development Laboratories (SDL)’. He started it with two other partners and invested about 2000 US dollars in it, initially.
  • In the late ‘70s and early ’80, Ellison renamed his company as ‘Relational Software Inc.’, which went on to become ‘Oracle Systems Corporation’, named after its patent invention ‘Oracle’ database.
  • He wanted his creation Oracle to achieve compatibility with the newly formed IBM System Inc., which was like Oracle based on Codd’s theories, but IBM refused to share System R’s code.
  • In 1990, Oracle started losing money in the business and laid off about 10% of its working staff. This situation emerged due to Oracle’s marketing techniques.
  • In 1994, Informix overhauled Sybase and became Oracle’s most important competition in the software market. The rivalry between the heads of the two companies – Phil White (Informix) and Ellison.
  • Eventually, Informix announced its bankruptcy and Phil White ended in jail; his company was absorbed by IBM in 2001. Around the same time, Ellison who was also working as the director of Apple Computer for about 5 years now, resigned.
  • After Informix and Sybase were defeated in the competition, Oracle went through a period of dominance and success until Microsoft SQL Server and IBM overtook the market.
  • It is said that by 2005, Ellison was making a salary of $975,000 with $6,500,00 in bonus and $955,100 in compensations, which eventually became $56.8 million during the late 2000s. He was ranked as the richest Californian.
  • In 2010, Oracle’s takeover of Sun Microsystems was granted by the European Union. This gave Oracle the control of the popular MySQL open source database. In the same year, Mark Hurd (ex-CEO of HP) was hired as Co-President by Ellison.

· By late 2000s, Ellison was estimated to be of net worth of $28 billion. ‘The Wall Street Journal’ reported him to be the best-paid executive.

 

8 Comments

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