Oracle’s Billionaire CEO Larry Ellison Makes $5 Billion in 5 Days
Billionaire businessman and Oracle CEO Larry Ellison has earned a whopping $5.4 billion in five days, taking his net worth to $90.6 billion.
As of May 25, 2022, the billionaire was worth $85.2 billion according to the Bloomberg Billionaires Index. However, at the time of writing, his net worth has seen a significant increase as he is now worth $90.6 billion.
In contrast, its year-to-date value has declined significantly, dropping $16.2 billion between January and May 2022.
The drop in his net worth is largely attributed to the huge sell-offs in Oracle Corporation shares. The American multinational computer technology company has seen a 17.2% drop in its share price since the start of the year, now selling at $72.78 despite starting the year at $87.9.
Similarly, the share price of Tesla, an American auto and clean energy company, in which Ellison is also exposed, has also fallen 36.69% since the start of the year. It should be noted that his net worth has soared by more than $5 billion in the past 5 days following the rally recorded in the stock market.
About Oracle Corporation
Oracle Corporation is an American multinational computer technology company headquartered in Austin, Texas. Notably, Oracle is the third largest software company in the world by revenue and market capitalization.
- The company sells database software and technologies (especially its own brands), cloud engineering systems and enterprise software products.
- Oracle has revenue of $40.47 billion. In 2021, the company recorded operating income of $15.21 billion, net income of $13.74 billion, total assets of $131.10 billion and total shareholders’ equity of 5.95 billions of dollars.
- Oracle Corporation was founded by Larry Ellison with co-founders Bob Miner and Ed Oates as Software Development Laboratories (SDL).
- Ellison was inspired by the 1970 article written by Edgar F. Codd on relational database management systems (RDBMS) named “A Relational Data Model for Large Shared Data Stores.” He heard about the IBM System R database from an IBM Research Journal article provided by co-founder Oates.
- In 1979, SDL changed its name to Relational Software, Inc (RSI,]and then again to Oracle Systems Corporation in 1983 to align more closely with its flagship product Oracle Database.
- In 1995, Oracle Systems Corporation changed its name to Oracle Corporation, officially named Oracle, but is sometimes referred to as Oracle Corporation, the name of the holding company.
Besides Oracle Corporation, founded by the billionaire, he also owns more than 40% of the Austin, Texas-based company, as well as a large stake in Tesla, a sailing team, the Indian Wells tennis event and valuable real estate. , such as Hawaii’s Lanai Island and, very interestingly, a collection of 16th century samurai armor and weapons.
What Larry Ellison’s Net Worth Can Buy
According to the Bloomberg Billionaire Index profile of the billionaire businessman, his net worth of $90.6 billion can buy the following;
- 8 million ounces of gold
- 754 million barrels of crude oil
- 432% of US GDP
- 24% of the total wealth of the 500 richest people in the world
- 9% of the top 100 university endowments in the United States
- 1,435% of total top 200 U.S. executives received compensation
- 06% of existing homes in the United States
- 1,342,037 times the median household income in the United States.