Biographical Details of Lawrence Ellison - Essay Example

He was born in New York City, on August 17, 1944, to an unwed Jewish mother. He was then adopted by his mother’s uncle and aunt, who raised him in Chicago. His adoptive mother was kind to him, but he has quite a few contradictions with his adoptive father. The financial condition of the family was alright, until the Great Depression robbed his adopted father of his job, after which he took up a small job as an auditor. Lawrence Ellison went to Eugene Field Elementary School in Chicago and then went to Sullivan High School. Even as a child, he showed great aptitude for Science and Math. He attended the University of Illinois and left it at the end of the second year since his mother had expired then. Later, he went to the University of Chicago, where he learned computer design, for just one term.

CAREER

Later, he took up several jobs that helped him earn a living. In the 1970s, Ellison took up a job with Ampex Corporation. Here, he worked on a project that dealt with creating a database for the CIA. It was called Oracle. Eventually, he started a venture on his own, with his colleagues, Robert Miner, and Ed Oates, after being inspired by a paper called, ‘A Relational Model of Data for Large Shared Data Banks’ by Edgar F. ("Ted") Codd, describing a concept Codd had developed at IBM. It was initially called Software Development Laboratories.

Soon enough, they won a contract to build a relational database management system for the CIA and thus began his career as a software entrepreneur. By completing the project ahead of schedule and using the time to develop the company, Ellison and his partners started their stride into the million-dollar mark. Ever since, the company’s profits doubled year after year. It soon turned into a billion-dollar company, from a million-dollar company. This was when the company got its current name, Oracle.

Oracle also experienced its share of difficulties, in the aftermath of going public in 1986. Employees of Oracle overstated the value of their company. This led to losses the next financial year around. The company was also on the brink of bankruptcy. This was when Ellison decided to step in and disburse managerial powers to professionals and solely concentrated on product design. After this overhaul, the company registered more profits than before.

Even in light of the financial meltdown, Oracle has been able to sustain itself. Lawrence Ellison, for his part, has been one of the world’s richest men. In fact, at one point in time, he overtook Microsoft’s Bill Gates, to become the World’s Richest Man. He leads a very lavish life, with special regard and passion for yachting and water sports.

ASSETS, PHILANTHROPY, AND CONTRIBUTION

Lawrence Ellison, in his position as the co-founder and CEO of Oracle, has been currently named the fourth richest person in the world, by Forbes magazine. He is also the third richest American. He is worth US $27 billion. In terms of the share in his company, he owns 22.59% of Oracle Corporation which is worth between 20 to 25 billion US dollars.

Ellison owns a sprawling Japanese-style $200 billion mansion in California. Lawrence Ellison is also passionate about cars and sailing. He is very involved in the BMW Oracle Racing. Oracle permits BMW Oracle Racing to use its logos but does not extend financial support. Lawrence Ellison also won the 1998 Sydney to Hobart Yacht Race, in his yacht Sayonara. He is also a co-owner of the Rising Sun, the sixth-largest yacht in the world, with David Geffen. A car enthusiast as well, Ellison owns top-end models, like the Audi R9 and McLaren F1. In addition to this, he also is a certified pilot and owns several private jets. He is also looking at purchasing the NFL franchise, besides the Premier League football team Everton FC.

As a philanthropist, Ellison has been mentioned in many a cause. In the Forbes list of 2004, it was stated that Ellison had donated $151, 092, 103. This was estimated to be 1% of his wealth.

PERSONAL LIFE

As far as Ellison’s personal life goes, he has seen many ups and downs, right from his childhood, as an adopted child. He met his biological mother only when he was 48 years of age. He has been married four times and his first three marriages have ended in divorce. He has a daughter and a son from his third marriage.

Lawrence Ellison’s story is that of stupendous success, name, and fame. It is indeed a biography that can inspire many. Read More