- Oracle co-founder Larry Ellison (Larry Ellison) earned $12 billion from Tesla’s investment.
- The technology billionaire bought 15 million shares of the Elon Musk automaker before joining the board of directors in December 2018.
- Since then, the value of Ellison’s shares has surged from approximately US$1
- Musk and Ellison are close friends and visited him on his Hawaiian island in December.
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Oracle co-founder Larry Ellison (Larry Ellison) earned $12 billion in Tesla stock gains in just over two years.
Before joining the board of directors in December 2018, the software giant’s technical director and former CEO bought 15 million shares of Elon Musk’s electric car company.
Since then, Tesla’s stock price has soared by about 1,200%, raising the value of Ellison’s 1.6% stake from about $1 billion to more than $13 billion.
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Ellison is Tesla’s second largest individual shareholder after Musk. He revealed in a conference call with Oracle analysts in October 2018 that his bet on the automaker was his second largest investment.
The technology billionaire also called Musk and himself “very close friends.” Indeed, last month, Musk flew to the Hawaiian island of Lanai in Ellison to seek advice from Oracle executives.
According to the Bloomberg Billionaires Index, Ellison’s Tesla bet increased his wealth to approximately $81 billion, making him the tenth richest man in the world. Musk topped the list with a net worth of $200 billion.