Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

CEOs Gone Wild: Larry Ellison

By

Oracle CEO has God complex, untold billions.

PrintPRINT
There's an old joke in Silicon Valley about Oracle (ORCL) CEO and founder Larry Ellison:
Q: What's the difference between God and Larry Ellison?
A: God doesn't think he's Larry Ellison.
So, a guy with a God complex becomes one of the richest men in the world. Or, one of the richest men in the world develops a God complex. Only his therapist knows for sure.
What is for sure is that all that wealth and power can create resentment. Which is why Oracle preemptively bought the domain names larryellisonsux.com, larryellisonblows.com, ihatelarryellison.com, larryellisonsonofabitch.com, and larryellisonbites.com.
At least the guy's having fun with the spoils of his success. Ellison flies an SIAI-Marchetti S.211 fighter plane, used by the Italian Air Force. He owns the second-largest private yacht in the world: The 454-foot Rising Sun, a boat so big that it can't be docked at most ports. Instead, it has to be tied up alongside marine rabble like oil tankers and container shops.

Minyanville's CEOS Gone Wild
Ellison also tried to import a decommissioned Russian MiG-29, but the U.S. government stopped him. "It's considered a firearm, even though that's not my intention. It is disarmed, but theoretically you could rearm it and take out a couple of cities," he said.
But if Larry Ellison is actually God, he could "take out a couple of cities" with nothing more than a wave of his hand.
And, like all gods, Ellison's sure he can corner the market on immortality. His biographer, Mark Wilson, believes that "part of Larry... is saying if he's smart enough, he should be able to beat [death]. Death is just another kind of corporate opponent that he can outfox."

In Ellison's own words: ``Death has never made any sense to me. How can a person be there and then just vanish, just not be there? Clearly the reason they're not there is they're off doing something else... Death makes me very angry."
And he's not just angry, he's putting his money where his mouth is.
Ever hear of the Methuselah Mouse competition?
Created by Aubrey de Grey, a researcher in the Department of Genetics at Cambridge University, the contest awards a large cash prize to the first person able to extend a mouse's lifespan from 3 years to 5.
A major sponsor is the Ellison Medical Foundation - not surprising, since Ellison is now the single largest private supporter of aging research in the world.

If Larry Ellison doesn't believe in death, does he believe in taxes, as the old cliché goes?

Don't be ridiculous - he's got taxes licked.

According to the San Francisco Chronicle, Ellison managed to convince the San Mateo assessment appeals board that his 23-acre estate modeled on a Japanese emperor's country residence suffered from "significant functional obsolescence," given the "finite market for high-end luxury homes, limited appeal for 16th-century Japanese architecture" and costly to maintain "over improvements."

For a man who is God, a 5-acre man-made lake, 2 waterfalls, 2 bridges, a guest residence, 3 cottages and a barn aren't over-improvements: They're absolute necessities.

Nevertheless, the board agreed with Ellison, slicing the valuation of his home by around $100 million for each of the last 3 years, for a tax savings of more than $3 million.

Not bad, for a guy worth $25 billion.
Now, if Larry Ellison happens to be wrong about living forever, at least he doesn't have to worry about dying a violent death. An analysis conducted by James F. Reda & Associates for the Wall Street Journal, showed that Oracle spent $1.7 million on security last year for Ellison.
Regardless of whether or not the God of Oracle lives forever, he'll certainly have the money to do it. He earned $61.2 million in pay in Oracle's 2007 fiscal year, which included $11.1 million in salary and bonus, and $50.1 million in profit from stock sales.

Additionally, over the past two years, Oracle has awarded Ellison an additional 13 million options, on top of the 1.15 billion shares he already owns.

God, that's a lot of money.
< Previous
  • 1
Next >
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE