Larry Ellison, the co-founder of Oracle, is having a remarkable year. With his friend Donald Trump residing in the White House, and his son, David Ellison, taking the helm of the esteemed media company CBS, he recently outpaced his partner Elon Musk to claim the title of “The World’s Richest Person.”
The buzz around Oracle’s stock has further boosted his wealth, bringing Ellison’s net worth to an impressive $393 billion, overtaking Musk’s $384 billion.
While he may not have the same popularity as Musk, Ellison’s impact on Silicon Valley and the political landscape is significant. He is renowned for his extravagant lifestyle, which includes a massive yacht, a private jet, multiple marriages, and ownership of the entire island of Lanai in Hawaii.
At 81, this tech mogul has built a fortune through software development since the 1970s. He co-founded Oracle after securing a two-year contract to develop a database for the CIA. Academy of Achievement. Oracle has grown into a tech giant, creating software for Fortune 500 companies worldwide and making strides in cloud computing. The rise of artificial intelligence has further benefited the company, leading to fruitful partnerships with OpenAI, the creator of ChatGPT.
“AI is a much bigger deal than the Industrial Revolution, electricity, and everything that has come before,” Ellison emphasized during an interview with former British Prime Minister Tony Blair in February.
Having served as Oracle’s CEO for 37 years before becoming Chief Technology Officer in 2014, Ellison continues to lead the board and retains over 40% ownership of the company. Notably, Oracle’s headquarters relocated from Silicon Valley to Austin, Texas, in 2020.
In addition to Oracle, Ellison was on Tesla’s board from 2018 to 2022, holding shares in Musk’s electric vehicle company. According to Forbes, he also owns nearly 50% of Paramount Skydance, a media conglomerate managed by his son David. The company encompasses CBS, MTV, Paramount Pictures, among others. Young Ellison claims that media firms stay clear of political affiliations, yet he is close to Bari Weiss, a controversial figure who co-founded the Free Press to head CBS News.
Ellison’s Connections to Trump and Netanyahu
Ellison has deep ties to the Republican Party and a close relationship with Trump, dating back to his first term. Ellison has often dined at Trump’s Mar-a-Lago resort and met him in the Oval Office. Oracle has positioned itself as a lead buyer of popular social media platforms as Trump has delayed a Supreme Court ruling that could ban TikTok unless it is sold.
“In Larry, in Larry Ellison, that goes far beyond technology,” Trump remarked in a press conference shortly after taking office. “He’s a great guy and a great businessman.”
Ellison is also closely connected to Israeli Prime Minister Benjamin Netanyahu and has made substantial contributions to the Israeli military through a nonprofit benefiting Israeli Defense Forces. In 2017, he made a record donation of $16.6 million. Oracle did not respond to inquiries from the Guardian about any recent donations.
Ellison has hosted Netanyahu and numerous high-profile officials and celebrities on his extensive estate in Lanai. According to Bloomberg, he purchased 98% of the island in 2012, transforming it into a luxury Four Seasons Resort and a hydroponic farm that produces lettuce and other vegetables. Local residents have shared their concerns over the rapid transformation of their island from a sleepy military base to an ultra-rich destination.
Musk, a close friend and competitor of Ellison in the realm of wealth, is a regular visitor to Lanai and considers Ellison a mentor. During a recent podcast with Texas Senator Ted Cruz, Musk referred to Ellison as one of the smartest individuals he’s ever encountered.
“Larry Ellison is incredibly intelligent,” Musk noted. “I believe he is one of the smartest people.”
Source: www.theguardian.com
