DEFINITION of 'Larry Ellison'
The founder and CEO of software company Oracle Corp. His company successfully went public in 1986, but suffered from quality-control problems in 1988. These issues led to cash flow problems, operating losses, a declining share price and near bankruptcy a couple years later. New top management worked with Ellison to turn these problems around by 1994. Ellison was also early to recognize the importance of the internet and positioned the company to benefit from the dot-com boom. His net worth has repeatedly ranked him as one of the richest men in the world.
BREAKING DOWN 'Larry Ellison'
Born in New York City in 1944, Ellison did not graduate from college. Instead, he found that he was skilled at software programming. He worked as a computer programmer for about 10 years before founding Oracle in 1977 - although the company did not take that name until 1983. It was initially called Software Development Laboratories. Harvard Business School named him Entrepreneur of the Year in 1990.