Larry Ellison is one cool dude. He is the kind of billionaire you think of when thinking about what billionaires would be like.
Unlike frugal billionaires like Warren Buffett, Larry likes to spend money.
There is even a story about him maxing out one of his credit cards for $1 billion dollars…
He buys cars, jets, yachts, mansions, and every toy you can possibly imagine. He’s had a string of young attractive girlfriends and likes to live life on the edge.
He even owns his own Hawaiian island, Lanai, just off the coast of Maui.
But that wasn’t the Larry that people knew back in the eighties when he could hardly afford the 1200 bucks he invested to start Relational Software Inc.
Later renamed to Oracle Systems Corporation his company now does almost $40 billion revenue a year.
With his personal net worth sitting at about $60 billion.
When Larry was born in 1944 his mother gave him away to live with relatives. He never met his real father and his adoptive father is said to have repeatedly told him he was “a good for nothing”.
“I had all the disadvantages required for success” — Larry Ellison.
In his younger years Larry worked odd jobs after dropping out of college and started to educate himself on how to code and program.
This is something that is a theme among many of the super-rich and billionaires. Often they do not value conventional education and rather like to read and are usually self-taught people.
Larry started programming by reading books from home and soon landed a job at Ampex Corporation which was building databases for the CIA.
Before long Larry made his next move which is also something that comes up again and again in the lives of billionaires. He went out on his own.
With $1200 of his own money he invested in starting what became Oracle software company and launched the first product…
It was called Oracle 2.
Larry realizing that version 1.0 software are often overlooked because they are considered to be buggy. So instead entered the market with version 2. A savvy marketer from the start.
And it worked. Before long the CIA was now contracting with Larry Ellison’s Oracle software company and things began to really take off.
And then he kept on doing it.
Oracle developed new software that solved problems for the businesses that relied upon them. Specifically Oracle is far more of a B2B company, which stands for business to business.
The company creates and markets software used in big businesses like the software used for ATM machines, and major airlines. As well as banks and big corporations.
Larry Ellison became a billionaire by continuing to innovate inside a new and emerging space and kept at it for decades.
He later became a multi-billionaire when he began to buyout all his competitors in the software space. Soon Oracle dominated the B2B software space by instead of competing; merging and buying out his competition.