CEOs Gone Wild: Larry Ellison
By Justin Rohrlich Aug 28, 2008 12:55 pm
Oracle CEO has God complex, untold billions.
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.
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.”
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.
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.
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.
No positions in stocks mentioned.
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Reply
2008-08-29 17:32:25
Living the modest dream
It would seem like a lot of money but if he has to have a 474 foot boat to enjoy life no amount of money will make him happy. What he should do is hire someone like myself who can enjoy being minutely as rich as he is and can appreciate the smaller things in life. I could help him spend his money and report back to him each year about how much I enjoyed doing what I did with his money. Hell I might even take some time off enjoying myself and help him help other people who are less fortunate. Think of the satisfaction he might get knowing that I was enjoying life where he couldn't for a small token of the price that it would cost him. He could focus on doing what he does best while I focus on doing what I have wanted to do all my life which is to have just enough money to know that I don't have to worry about my next pay check. That doesn't mean I would want his 474 foot long boat though. Imagine pulling into the Puget Sound and then having to back it all the way back out just to turn around.
I going to have my wife put some affirmations under our frog and I will paint the door on our rental red while she feng shui's the house. Oh Happy Days.
JPM
I going to have my wife put some affirmations under our frog and I will paint the door on our rental red while she feng shui's the house. Oh Happy Days.
JPM
2008-09-02 13:34:24
Living the modest dream
most rich people missed the point, we are here on earth just temporary, a tresspasser, this is just a testing ground of god for onother life in eternity. if i am that rich, I will give 75 percent of my wealth to the poor, just like what jesus said, give all your wealth to the poor and follow me.
regards
Dr. Nellie Roque ph.d
regards
Dr. Nellie Roque ph.d
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