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Lawrence Joseph Ellison (born August 17, 1944) is an American businessman and investor who founded Oracle Corporation and serves as its executive chairman and chief technology officer (CTO). He was the ninth-wealthiest person in the United States and the tenth-wealthiest person in the world as of April 2021, according to Bloomberg Billionaires Index, with a fortune of $93.9 billion, up from $57.3 billion in 2018. He also owns Lanai, the United States’ 41st biggest island, in the Hawaiian Islands, which has a population of slightly over 3000 people. Larry Ellison was born to an unmarried Jewish mother in New York City. His biological father served in the United States Army Air Corps as an Italian-American pilot. Ellison’s mother surrendered him to her aunt and uncle for adoption when he developed pneumonia at the age of nine months. He didn’t see his biological mother until he was 48 years old. Ellison relocated to Chicago’s South Shore, a predominantly middle-class area at the time. In contrast to his austere, unsupportive, and frequently aloof adoptive father, who chose the name Ellison to honour his point of entrance into the United States, Ellis Island, he remembers his adopted mother as warm and affectionate. Louis Ellison was a government employee who had amassed a little fortune as a result of his efforts.
He was motivated by Edgar F. Codd’s research on relational database architecture for IBM while working at Ampex in the early 1970s, which led to the establishment of Oracle in 1977. Oracle grew to be a popular database vendor for mid- and low-end systems, eventually competing with Sybase (founded in 1984) and Microsoft SQL Server (a port of Sybase launched in 1989), earning Ellison a spot on Forbes’ list of the world’s wealthiest people. Following a brief time with Amdahl Corporation, Ellison joined Ampex Corporation in the 1970s. One of his efforts was a database for the CIA that he dubbed “Oracle.” “A Relational Model of Data for Large Shared Data Banks,” a study by Edgar F. Codd on relational database systems, influenced Ellison. He started Software Development Laboratories (SDL) in 1977 with two partners and a $2,000 investment, of which $1,200 was his. The business changed its name to Relational Software Inc. in 1979, and then to Oracle Systems Corporation in 1983, after its main product, the Oracle Database. Ellison had heard about IBM’s System R database, which was based on C as well. Oracle lay off 10% of its staff (about 400 workers) in 1990 because company was losing money. Oracle’s “up-front” marketing approach, in which salespeople pushed potential clients to buy the maximum amount of software possible all at once, caused this catastrophe, which almost led to the company’s collapse. The salespeople increased their incentives by booking the value of future licence sales in the current quarter. When the expected future sales did not materialise, this created a concern. Oracle eventually had to restate its results twice, as well as settle class-action lawsuits stemming from the overstatement. On January 21, 2010, the European Union approved Oracle’s acquisition of Sun Microsystems, stating that the deal “has the potential to revive significant assets and generate new and creative products.” Oracle also gained control of the popular MySQL open source database, which Sun had purchased in 2008. “The HP board just made the worst personnel decision since the morons on the Apple board dismissed Steve Jobs many years ago,” Ellison wrote on August 9, 2010, after Hewlett-board Packard’s dismissed CEO Mark Hurd. (Ellison and Hurd were good friends on a personal level.) Oracle then recruited Mark Hurd as a co-president alongside Safra Catz on September 6.
Personal Profile of Larry Ellison
- Name: Larry Ellison
- Date of Birth:17 August 1944
- Age: 76 years
- Birth Sign: Leo
- Nationality: American
- Parents: Louis Ellison, Lillian Ellison
- Siblings: NA
- Birth Place/City: Bronx, New York, United States
- Profession: Business magnate
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