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richest-self-made-billionaires January 2016 (number 5)

richest-self-made-billionaires January 2016

 

5. Larry Ellison


Net worth: $45.3 billion
Age: 71
Country: US
Industry: Tech
Source of wealth: Self-made; Oracle
In 1977, Larry Ellison teamed up with two colleagues from an electronics company to start their own programming firm, which landed a contract not long after to build a relational database-management system for the CIA under the project code Oracle. The project grew into what is known today as Oracle Corp., the second-largest software maker behind Microsoft. 

In 2010, Ellison reduced his annual salary from $1 million to $1, but he still takes in more than $60 million in total compensation thanks to generous stock awards. Ellison stepped down as CEO in 2014 after 38 years on the job and took on the role of chief technology officer.

Included in Ellison's $45 billion fortune is an expansive global real-estate portfolio that features an entire Hawaiian resort island and an accompanying airline that he's rumored to be selling. He's a tennis fan — his current passion project is to revive the sport through investments in a "fifth grand slam" site in Indian Wells, California, and as lead sponsor for the Intercollegiate Tennis Association.

The tech tycoon is also a generous philanthropist through partnerships with wildlife conservation groups and the Lawrence Ellison Foundation, which supports organizations that research aging and global infectious diseases. He's also a member of Bill Gates and Warren Buffett's Giving Pledge, committing to give away at least half of his fortune.

Ref: Business finder



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