Larry Ellison: From empty-handed people with no money to pay tuition fees to technology billionaires

From a student who dropped out twice because he could not afford to pay tuition fees, billionaire Larry Ellison today is not only one of the cult tycoons.

Having the most extravagant and powerful personality of the technology world, Larry Ellison is often featured in Forbes' top 10 richest billionaires in the world. As of March 2019, billionaire Larry Ellison was listed by Forbes magazine as the 3rd richest person in the US, 6th richest in the world.

Poor childhood

Larry Ellison full name Lawrence Joseph Ellison, born in 1944 in Bronx borough, New York City. He was the only son of Florence Spellman, a woman of Jewish origin. Larry Ellison's father was an Italian-American Air Force pilot.

When Larry Ellison was only 9 months old, he contracted pneumonia. His mother let him live with his aunt and uncle, Lillian and Louis Ellison, in Chicago. They are also the adoptive parents of Larry Ellison - a devoted and affectionate adoptive mother, in contrast to the austere, cold and distant adoptive father. Since then, he did not repeat his biological mother until he was 48 years old.

When he was a boy, billionaire Larry Ellison revealed the independent and rebellious personality of a future leader when often causing conflicts with his adoptive father. Ellison also showed a passion and aptitude for math and science from an early age.

Larry Ellison said, it was the difficult life of childhood that forged him to be resilient to challenges, to stand up after each fall. "And the most fortunate thing, I found the source of my life," he said. Unexpectedly, that joy and life source "wrapped" his life until now.

While he attended the University of Chicago, Ellison spent the summer moving to northern California, where he lived with his friend Chuck Weiss. It was here that he first had the opportunity to interact with computers and aroused in him a strong passion. At the age of 20, he moved to northern California. Moreover, he once said that it was a life without family affection that brought him to the technology industry at a young age. What he later called "the predestined" with the profession. And it was also the life of having to be independent from a young age that also helped him know how to overcome difficulties to achieve the success he is today.

In 1966, 22-year-old Ellison decided to go away to start a business with some money saved up. He left Chicago to move to Berkeley, California. The area Ellsion lived in at the time bordered a place that was gradually becoming a center for America's leading technological brains that only a short time later became known as the Sicilian valley.

In about 8 years, Larry went through a lot of work that he absorbed and progressed very quickly in his computer and programming skills. After that, he worked at the electronics company Ampex, where there was a contract to build a data warehouse for the CIA with the code "Oracle". And it is also this name that billionaire Larry Ellison gave his corporation later.

In 1977, Ellison and his colleagues Bob Miner and Ed Oates founded a database management company called Software Development Laboratories, with an initial capital of $2,000.

In 1979, the company was renamed Rational Software Inc. A year later, Ellison's company had only eight employees, including himself and two friends, and revenue of less than $1 million a year.

The first version of the database created by billionaire Larry Ellison's company was called Orcale version 2. In 1982, the company changed its name to Oracle Systems Corp. After the launch of the flagship product Oracle 2, that name has maintained along with strong growth to this day.

Oracle is one of the fastest growing startups in the computer industry. In 1986, Oracle first issued shares, bringing the company's revenue to $ 55 million.

In 1990, Oracle's market capitalization fell 80% due to the wrong direction and had to lay off 10% of its workforce then (about 400 people). Less than a decade after its dream start, Oracle was on the verge of bankruptcy and became a lucrative "piece of meat" as competitors competed to "undercut" market share. This was an event that billionaire Larry Ellison would later describe as "an amazing business mistake" when it came to legal proceedings.

But with the bravery of a good leader and a sharp management and business mind, billionaire Larry Ellison conducted a strong and comprehensive "blood change" for Oracle. Senior employees are replaced by more experienced managers.

For the first time, he delegated business management to specialists, and shifted his focus to product development. A new version of the Oracle 7 database, released in 1992, has "sweeped" the administrative software market. In just 2 years, the company's stock has rebounded.

In 1994, Informix Software overtook Sybase and became Oracle's most important competitor. Finally, in 1997, Oracle defeated Informix. That same year, Ellison was offered the job of director of Apple Computer, but he resigned in 2002 due to lack of time.

After Informix and Sybase were defeated, Oracle enjoyed years of industry domination until Microsoft SQL Server emerged in the late 1990s and acquired IBM by Informix Software in 2001 to supplement the database. whether their DB2.

Withdraw from the technology playground

Billionaire Larry Ellison is famous for his strong temper but still keeps his "cold" head. He is ready to humiliate and sue his opponents.

He is also a person who hates submissive employees. For him, a good employee is one who must have a strong opinion as well as be ready to oppose the superior for the common development.

“Before embarking on groundbreaking initiatives, you should prepare yourself for being told by the whole world that you are crazy,” he once shared about one of the secrets to getting rich.

With huge resources and business acumen, Ellison turned to other potential businesses just before the domain name (.com) fever cooled down. In 2014, Oracle acquired human resource management software provider PeopleSoft for $10.3 billion.

In 2009, Oracle bought Sun Microsystems - a server company that started in 1982 with Oracle. This acquisition gives Oracle many important technologies, including the familiar MySQL database control.

However, since 2010, billionaire Larry Ellison began to withdraw from the playing field of the technology world and hand over the management rights to confidants.

In 2014, Ellison officially stepped down from the position of CEO of Oracle and ceded the power to take charge of the corporation to Hurd and Katz. At that time, billionaire Larry Ellison was at number 5 on the list of the richest people in the world. In the last half of 2018, Larry Ellison still ranked 10th on this list.

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