In this success story, we are going to share the Larry Ellison biography co-founder and the former CEO of the Oracle Corporation. Larry Ellison is one of the richest people in the world, with the net worth of around $55.2 billion as of March 2018, according to the report.
Ellison has donated around 1% of his total wealth and is taking part in The Giving Pledge commitment campaign.
Larry Ellison takes part in yachting competitions with his Oracle Team USA, he is a licensed aircraft pilot, and he even enjoys playing guitar and tennis. Larry Ellison is a self-made entrepreneur and billionaire who achieved his success via trials and errors. His parents did not have a penny and at the time of all his life, he has been making up for the miserable childhood.
The distinctive personality traits of Larry Ellison are strategic vision, persistence, and passion for innovations.
Larry Ellison Early Career
He joined the University of Chicago, where he came across computer design as a really interesting subject. In the year 1996, he moved to California. He was 22 at that time. In the 1970s, Ellison worked for the Ampex Corporation; he had the opportunity to work on a project for the CIA, which included creating databases for their system. Ellison was inspired by the paper written by Edgar F.Codd on the relational database systems (RDMS). This paper was called by the name ‘A Relational Model of Data for Large Shared Data Banks.’
Larry Ellison Career
In the year 1977, he approached two partners for starting a new company. They named it Software Development Laboratories (SDL). The three of them started with an investment of around $2000. In the year 1979, they renamed the company to ‘Relational Software Inc.’ Slowly. They were working on creating databases for storing and managing data better. In the year 1982, they named their company Oracle Systems Corporations.
Ellison had a big dream. He wanted his company to create a database that could achieve compatibility with the IBM system Database. But IBM refused to share the System R’s code with Ellison. But Ellison was determined to take his company to the No 1 spot in selling databases. In the year 1990, 10% of the staff had to be removed as the indirect result of a false sales strategy. Ellison later admitted that the mistake he made was a really bad one and could have even done lots of harm to the company.
Larry Ellison Career Highlights
When IBM delayed its entry into the market with a relational database, Ellison saw the opportunity to dominate the market in the mid-range system and microcomputers category. He pushed for an aggressive sales strategy as a result of which Oracle was now one of the top companies across the globe because of the little or no competition it had. In the year 1991, Oracle had a good percentage of the market share and was growing at a steady rate. In the year 1994, Informix became Oracle’s biggest rival. But in the year 1997, Informix announced a revenue shortfall and thus made Oracle the dominant force in the market.
Ellison was made a director of Apple Computers in the year 1997. In 2007, Ellison earned a total of $6118000. In the year 2009, he made around $57 million. Ellison decided in 2009 to buy Sun Microsystems giving Oracle control of the popular MySQL open-source database which Sun had purchased in the year 2008. Ellison was reported by The Wall Street Journal to be the best-paid CEO in the last decade. He had collected an amount of $1.84 Billion.
Larry Ellison Achievements
What makes Ellison different from others is the business acumen he applied in taking his company from being a startup to be one of the most popular companies across the globe. This was also because of his grit in accepting his mistakes and learning from them. Using the experience he gained from his failures. He made the right decisions at the right time to propel his company to become an undisrupted leader in its field.
Today he is still the CEO of his company and has been the backbone that has ensured that it still continues its dominance that it established in the previous years.
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