Larry was a dreamer and visionary. He knew that the future was behind computers and the first one who would learn how to deal with them would be the king. In the early 70s, Ellison was working for a small company — Amtex.
When he joined it, he already knew how to develop powerful databases that process various types of payments and almost all banking operations. That was the time when Larry developed Oracle. It was a convenient, multi-functional, and almost perfect database.
It was a huge live mechanism that could process an enormous amount of requests and was served at an intuitive level. There were no impossible tasks for it. Oracle could do everything. This software was too good to be sold.
The oracle is the one who gives correct answers to all the questions. Larry believed that computers were the future. Nevertheless, he thought that these machines should belong to large corporations, no to individuals. Oracle is a DBMS database management system.
Ellison was roughly explaining the same thing to his first customers. His software could do breathtaking things: for example, select one store from a supermarket chain that works better than others, determine the most demanded cheese in Florida in April, etc. He made the trip from Chicago to California in a flashy turquoise Thunderbird that he thought would make an impression in his new life. Ellison bounced around from job to job, including stints at companies like Wells Fargo and the mainframe manufacturer Amdahl.
Along the way, he learned computer and programming skills. The turning point came when Ellison came to work for the electronics company Ampex, which had a contract to build a database for the CIA codenamed "Oracle.
The first version of the Oracle database was version 2 — there was no version 1. In , the company renamed itself Relational Software Inc.
As one of the key drivers of the growing computer industry, Oracle grew fast. It took a few years, but by , Ellison and Oracle managed to right the course with new employees and the popular Oracle7 database.
Ellison is known for his willingness to trash-talk competitors. For much of the '90s, he and Oracle were locked in a public-relations battle with the competitor Informix, which went so far as to place a "Dinosaur Crossing" billboard outside Oracle's Silicon Valley offices at one point.
But Oracle just kept steamrolling over the competition. And with Ellison as Oracle's major shareholder, his millions kept rolling in. He started to indulge in some expensive hobbies — including yacht racing. That's Ellison at the helm during a race.
Ellison even managed to turn a potential loss into a big win. When Benioff found out that Ellison had Oracle working on a direct competitor to Salesforce's product, he tried to force his mentor to quit Salesforce's board. Instead, Ellison forced Benioff to fire him — meaning Ellison kept his shares in Salesforce. It has led to a love-hate relationship between the two executives that continues to this day, with the two taking shots at each other in the press.
In fact, Salesforce aside, the dot-com boom of the late '90s benefited Oracle, too: All of those new dot-com companies needed databases, and Oracle was there to sell them. Ellison stuck around for a while but felt that he couldn't devote the time. With the coffers overflowing, Ellison was able to lead Oracle through a spending spree once the dot-com boom was over and prices were low. Starting in the s, Ellison started to take more of a back seat, handing more responsibilities to trusted lieutenants, like Mark Hurd and Safra Catz, then Oracle's co-presidents.
Ellison now serves as the company's chairman and chief technology officer. In , Ellison scored a personal coup: the purchase of NetSuite. It will cost him around million to million dollars. Since Ellison received a salary of , dollars along with 6,, dollars bonus money and other benefits of , dollars. In these figures increased to a base salary of ,, a bonus of 8,, and other compensation of 50,, dollars. By he earned a total of According to Forbes, Ellison is the richest Californian.
Famous Entrepreneurs Biographies, Pictures and Facts. Larry, along with Bill and other billionaires, have pledged over half of their wealth to philanthropy this is called the Giving Pledge.
It would be so easy for them to invest their wealth in creating the Oracle or Microsoft conglomerate — I doff my hat off to them for setting an example in giving back. Seeing them play and spending time with them gives me immense happiness. And this is the happiest I have ever been.
Entrepreneurs like us need to create a world where we use technology to make our planet more habitable and enrich people not merely through digital pixels but real human values of love, trust, and empathy. In billionaires not just by financial wealth like Larry Ellison, I have hope. Retail is evolving with changing customer preferences and relentless digital acceleration.
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