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60-547: The syndicate was initially named Oracle for the 2003 campaign and backed primarily by Larry Ellison , the co-founder and CEO of Oracle Corporation , but was renamed in August 2004 to Oracle BMW Racing to reflect the German company's role, and subsequently revised again to BMW Oracle Racing to reflect increased involvement from BMW . At the end of December 2010 it was announced that by mutual agreement of both partners, BMW

120-409: A bar mitzvah celebration. Ellison states: "While I think I am religious in one sense, the particular dogmas of Judaism are not dogmas I subscribe to. I don't believe that they are real. They're interesting stories. They're interesting mythology, and I certainly respect people who believe these are literally true, but I don't. I see no evidence for this stuff." Ellison says that his fondness for Israel

180-431: A $ 975,000 salary, a $ 6,500,000 bonus, and other compensation of $ 955,100. In 2007, Ellison earned a total compensation of $ 61,180,524, which included a base salary of $ 1,000,000, a cash bonus of $ 8,369,000, and options granted of $ 50,087,100. In 2008, he earned a total compensation of $ 84,598,700, which included a base salary of $ 1,000,000, a cash bonus of $ 10,779,000, no stock grants, and options granted of $ 71,372,700. In

240-453: A court allowed Ellison to donate $ 100 million to his own charitable foundation without admitting wrongdoing. A California judge refused to allow Oracle to pay Ellison's legal fees of $ 24 million. Ellison's lawyer had argued that if Ellison were to pay the fees, that could be construed as an admission of guilt. His charitable donations to Stanford University raised questions about the independence of two Stanford professors who evaluated

300-486: A database for the CIA , code-named "Oracle". Ellison was inspired by a paper written by Edgar F. Codd on relational database systems called "A Relational Model of Data for Large Shared Data Banks". In 1977, he founded Software Development Laboratories (SDL) with two partners and an investment of $ 2,000; $ 1,200 of the money was his. In 1979, the company renamed itself Relational Software, Inc. (RSI). Ellison had heard about

360-472: A fundraiser at his home. Ellison was one of the top donors to Conservative Solutions PAC, a super PAC supporting Marco Rubio 's 2016 presidential bid. As of February 2016, Ellison had given $ 4 million overall to the PAC. In 2020, Ellison allowed former president Donald Trump to have a fundraiser at his Rancho Mirage estate, but Ellison was not present. In January 2022, Ellison donated $ 15 million to

420-609: A high-speed bicycle crash. After receiving treatment at University of California, Davis , Ellison donated $ 5 million to seed the Lawrence J. Ellison Musculo-Skeletal Research Center. In 1998, the Lawrence J. Ellison Ambulatory Care Center opened on the Sacramento campus of the UC Davis Medical Center . To settle an insider trading lawsuit arising from his selling nearly $ 1 billion of Oracle stock,

480-768: A loss of focus on its core database technology. In 1993, Sybase sold the rights to its database software running under the Windows operating system to Microsoft Corporation, which now markets it under the name "SQL Server". In his early years at Oracle, Ellison was named an Award Recipient in the High Technology Category for the Ernst and Young Entrepreneur of the Year Program. In 1994, Informix overtook Sybase and became Oracle's most important rival. The intense war between Informix CEO Phil White and Ellison

540-647: A net worth of $ 44 billion. In October 2012, he was listed just behind David Hamilton Koch as the eighth richest person in the world, according to the Bloomberg Billionaires Index. Ellison owns stakes in Salesforce.com , NetSuite , Quark Biotechnology Inc. and Astex Pharmaceuticals . In June 2012, Ellison agreed to buy 98 percent of the Hawaiian island of Lānaʻi from David Murdock 's company, Castle & Cooke . The price

600-523: A rocky start with changes in the skipper position, alternating between Cayard and Chris Dickson , to Dickson alone, to Peter Holmberg , and then back to Dickson. Bob Wylie was a key member of the 2003 team contributing mainly to the tactics. Oracle reached the finals of the 2003 Louis Vuitton Cup , losing to Alinghi 5–1. BMW Oracle Racing through the GGYC was the Challenger-of-Record for

660-604: A waiver for Ellison's jet, but did not invalidate the curfew. Ellison also owns at least two military jets: the Italian training aircraft SIAI-Marchetti S.211 , and a decommissioned Soviet fighter MiG-29 , which the US government has refused him permission to import. Ellison made a brief cameo appearance in the 2010 movie Iron Man 2 . In July 2013, Ellison opened a restaurant in Malibu named Nikita. In 2009, Ellison purchased

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720-529: Is not connected to religious sentiments but rather due to the innovative spirit of Israelis in the technology sector. Ellison attended South Shore High School in Chicago and later was admitted to University of Illinois at Urbana–Champaign and was enrolled as a pre-med student. At the university, he was named science student of the year. He withdrew without taking final exams after his sophomore year because his adoptive mother had just died. After spending

780-534: Is said to be the seventh wealthiest person in the world, with a net worth of $ 66.8 billion. As of 2022, Ellison owns 42.9 percent of the shares of Oracle Corporation, and as of June 2023, 1.4 percent of the shares of Tesla. Ellison's software startup, Project Ronin, that he co-founded with David Agus and Dave Hodgson closed down in 2024. The company aimed at transforming cancer care whose products were intended to quickly analyze data within electronic medical records systems. In 1992 Ellison shattered his elbow in

840-4058: Is smaller than the AC50 class that was used in the 2017 America's Cup . Teams [ edit ] Club Team Helmsman [REDACTED] Golden Gate Yacht Club Oracle Team USA [REDACTED] James Spithill [REDACTED] Royal Yacht Squadron Land Rover BAR [REDACTED] Ben Ainslie [REDACTED] Royal New Zealand Yacht Squadron Emirates Team New Zealand [REDACTED] Peter Burling [REDACTED] Glenn Ashby [REDACTED] Kansai Yacht Club Softbank Team Japan [REDACTED] Dean Barker [REDACTED] Yacht Club de France Groupama Team France [REDACTED] Franck Cammas [REDACTED] Adam Minoprio [REDACTED] Royal Swedish Yacht Club Artemis Racing [REDACTED] Nathan Outteridge [REDACTED] Francesco Bruni Standings [ edit ] Team Portsmouth 25–26 Jul 2015 Gothenburg 29–30 Aug 2015 Bermuda 17–18 Oct 2015 Muscat 27–28 Feb 2016 New York 7–8 May 2016 Chicago 11–12 Jun 2016 Portsmouth 23–24 Jul 2016 Toulon 10–11 Sep 2016 Fukuoka 19–20 Nov 2016 Standings 1 2 3 4 1 2 3 4 1 2 3 4 5 1 2 3 4 5 6 1 2 3 4 5 S 1 2 3 4 5 1 2 3 4 5 6 1 2 3 4 5 6 1 2 3 4 5 6 [REDACTED] Land Rover BAR 10 9 CAN 9 9 16 12 CAN 16 10 18 8 10 10 18 14 16 CAN 18 12 12 6 CAN 20 14 18 6 10 10 20 18 18 5 5 10 16 20 14 10 8 9 14 18 16 512 [REDACTED] Oracle Team USA 9 7 10 10 14 14 20 16 12 9 6 9 12 20 18 14 18 18 5 14 18 12 9 9 5 18 20 20 8 6 7 14 12 10 7 9 10 16 16 12 493 [REDACTED] Team New Zealand 8 10 8 8 18 20 12 18 20 10 7 5 20 16 12 16 16 20 7 12 16 16 8 5 7 16 12 14 9 9 5 12 10 18 9 6 8 18 14 10 485 [REDACTED] Artemis Racing 6 5 7 5 20 10 18 20 14 7 5 8 14 12 10 20 10 10 9 18 20 14 5 6 6 12 14 10 10 10 8 20 16 12 8 7 6 20 20 14 466 [REDACTED] Softbank Team Japan 7 6 6 7 12 18 14 14 16 6 9 6 16 10 14 12 14 16 10 16 10 20 7 8 8 14 16 16 6 7 6 18 14 20 6 10 5 12 10 18 460 [REDACTED] Groupama Team France 5 8 5 6 10 16 10 12 10 5 8 7 10 18 20 10 20 14 8 10 12 10 10 7 9 10 10 12 7 8 9 10 18 16 5 5 7 10 12 20 419 races cancelled for winds over 25kt: July 26, 2015 races cancelled for winds under 6kt: October 17, 2015; May 7, 2016; June 11, 2016 (June 10, 2016 practice race used as substitute) References [ edit ] AC45 class rule v2.4 AC45 Noticeboard AC45 results AC45 World Series replays ^ Land Rover BAR Wins America's Cup World Series , Sailing World, 21st Nov 2016 See also [ edit ] [REDACTED] Wikimedia Commons has media related to 2015-16 America's Cup World Series . 2017 America's Cup v t e America's Cup Deed of Gift Challengers and defenders Competing yacht clubs History of

900-619: Is the third-wealthiest person in the world, according to Bloomberg Billionaires Index , with an estimated net worth of US$ 208 billion, and the second-wealthiest in the world according to Forbes , with an estimated net worth of $ 237 billion. Ellison is also known for his ownership of 98% of Lānaʻi , the sixth-largest island in the Hawaiian Islands . Ellison was born on August 17, 1944, in New York City to Florence Spellman, an unwed Jewish mother. His biological father

960-762: The 2007 America’s Cup which was held in Valencia , Spain . BMW Oracle Racing, lost to Luna Rossa Challenge 5 to 1 in the 2007 Louis Vuitton Cup Semi Finals. Larry Ellison hired Russell Coutts to be the CEO of the 33rd America's Cup campaign. In July 2007, the Golden Gate Yacht Club , sponsoring BMW Oracle Racing, filed a challenge with the Société Nautique de Genève for the 33rd America's Cup stating that they did not believe that SNG's hand picked challenger, Club Náutico Español de Vela (CNEV)

1020-660: The Golden Gate Yacht Club , against the way that Ernesto Bertarelli (also one of the world's richest men) proposed to organize the 33rd America's Cup following the 2007 victory of Bertarelli's team Alinghi . The races were finally held in February 2010 in Valencia. On September 25, 2013, Ellison's Oracle Team USA defeated Emirates Team New Zealand to win the 34th America's Cup in San Francisco Bay , California. Oracle Team USA had been penalized two points in

1080-592: The IBM System R database, also based on Codd's theories, and wanted Oracle to achieve compatibility with it, but IBM made this impossible by refusing to share System R's error codes. The initial release of the Oracle Database in 1979 was called Oracle version 2; there was no Oracle version 1. In 1983, the company officially became Oracle Systems Corporation after its flagship product. In 1990, Oracle laid off 10% of its workforce (about 400 people) because it

1140-682: The Indian Wells Tennis Garden tennis facility in California's Coachella Valley and the Indian Wells Masters tournament for $ 100 million, and has subsequently invested another $ 100 million into the club. In 2010, Ellison purchased a 50% share of the BNP Paribas Open tennis tournament. With the economic downturn of 2010, Ellison sold his share of Rising Sun , the 12th largest yacht in

1200-1360: The America's Cup Editions 1851 1870 1871 1876 1881 1885 1886 1887 1893 1895 1899 1901 1903 1914 (postponed) 1920 1930 1934 1937 1958 1962 1964 1967 1970 1974 1977 1980 1983 1987 1988 1992 1995 2000 2003 2007 2010 2013 2017 2021 2024 Challenger Selection Series Herbert Pell Cup (1970–1980) Louis Vuitton Cup (1983–2017 & 2024) Prada Cup (2021) 1970 1974 1977 1980 1983 1987 1992 1995 2000 2003 2007 2013 2017 2021 2024 Defender Selection Series Citizen Cup (1992–1995) 1987 1992 1995 Youth America's Cup 2013 2017 2024 Women's America's Cup 2024 Class NYCC Rule Seawanhaka Rule J Class 12-Metre yachts IACC yachts regattas AC72 AC45 AC50 AC45F AC75 AC40 Related Challenger America (yacht) Louis Vuitton Pacific Series Louis Vuitton Trophy AC45 World Series Italy at

1260-650: The America's Cup Media Wind (film) The Wind Gods (film) Untold: The Race of the Century (documentary) The Billionaire and the Mechanic (book) Retrieved from " https://en.wikipedia.org/w/index.php?title=2015–16_America%27s_Cup_World_Series&oldid=1190027049 " Categories : America's Cup World Series 2015 in sailing 2017 America's Cup 2016 in sailing Hidden categories: Pages using multiple image with auto scaled images Commons category link

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1320-490: The America's Cup environment. Kite sail flying lasting about 30 minutes was achieved during testing in New Zealand. BMW Oracle Racing was the "Challenger of Record" on behalf of the Golden Gate Yacht Club of San Francisco for the 2007 America's Cup in Valencia, Spain , until eliminated from the 2007 Louis Vuitton Cup challenger-selection series in the semi-finals. On February 14, 2010, Ellison's yacht USA 17 won

1380-678: The Opportunity Matters Fund super PAC associated with Sen. Tim Scott (R-SC), which is one of the most significant financial contributions of the 2022 election cycle . The Washington Post reported in May 2022 that Ellison participated in a conference call days after the 2020 presidential election that focused on strategies for challenging the legitimacy of the vote. Other participants on the call included Fox News host Sean Hannity , Senator Lindsey Graham , Trump personal attorney Jay Sekulow and James Bopp , an attorney for True

1440-955: The Vote . The Post cited court documents and a participant on the call. According to reports in 2019, Larry Ellison has funded illegal annexation projects in Jerusalem that received criticism from Palestinians as well as Israeli peace activists and archaeologists . Additionally, in 2019 a $ 1 billion lawsuit was filed against several Israel supporters, including Ellison. The lawsuit accused Ellison and others of conspiring to ethnically cleanse Palestinians from Israeli-occupied territories, committing war crimes , and funding genocide. Ellison, who has close ties with Israeli prime minister Benjamin Netanyahu , reportedly lobbied Israeli mogul Arnon Milchan to drop his lawyer so that Netanyahu, implicated in one of his corruption cases , could hire him. It

1500-486: The best-of-three series and becoming the first American syndicate to win the cup since 1992. The rigid wing sail of USA 17 provided a decisive advantage and Golden Gate Yacht Club won the 2010 America's Cup by a considerable margin. Oracle Team USA competed in the 2011–13 America's Cup World Series . In August 2013, the competition jury received a report from Oracle Team USA that their boat and others they had loaned had unauthorized modifications. The team withdrew from

1560-606: The building was not fortified against rocket attacks. Other charitable donations by Ellison include a $ 10 million donation to the Friends of the Israel Defense Forces in 2014. In 2017 Ellison again donated to the Friends of the Israel Defense Forces, this time for $ 16.6 million. His donation was intended to support the construction of well-being facilities on a new campus for co-ed conscripts. Ellison

1620-641: The case's merits for Oracle. In response to the September 11 terrorist attacks of 2001, Ellison made a controversial offer to donate software to the federal government that would have enabled it to build and run a national identification database and to issue ID cards . Forbes ' 2004 list of charitable donations made by the wealthiest 400 Americans stated that Ellison had donated $ 151,092,103, about 1% of his estimated personal wealth. In June 2006, Ellison announced he would not honor his earlier pledge of $ 115 million to Harvard University , claiming it

1680-468: The competition on 8 August 2013. Penalties imposed included expelling three team members, a $ 250,000 fine, and a one-point penalty for each of the first two races of the Match in which they would otherwise score a point. Oracle Team USA's Larry Ellison declared that the 34th America's Cup would be sailed on AC72 class wing-sail catamarans . Oracle Team USA experienced the first major accident involving

1740-492: The final for cheating by some team members during the America's Cup World Series warm-up events. The Oracle team came from a 1–8 deficit to win 9–8, in what has been called "one of the greatest comebacks in sports history". In 2019, Ellison, in conjunction with Russell Coutts , started the SailGP international racing series. The series used F50 foiling catamarans, the fastest class of boat in history with regattas held across

1800-560: The fiscal year of 2010, down from the $ 1,000,000 he was paid in fiscal 2009. The European Union approved Oracle's acquisition of Sun Microsystems on January 21, 2010, and agreed that Oracle's acquisition of Sun "has the potential to revitalize important assets and create new and innovative products". The Sun acquisition also gave Oracle control of the popular MySQL open source database, which Sun had acquired in 2008. On August 9, 2010, Ellison denounced Hewlett-Packard's board for firing CEO Mark Hurd , writing that: "The HP board just made

1860-409: The future sales subsequently failed to materialize. Oracle eventually had to restate its earnings twice, and had to settle class-action lawsuits arising from its having overstated its earnings. Ellison would later say that Oracle had made "an incredible business mistake". Although IBM dominated the mainframe relational database market with its DB2 and SQL/DS database products, it delayed entering

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1920-556: The globe. Ellison committed to five years of funding to support the series until it could become self sustaining. The first season was successful with global audiences of over 1.8 billion. Ellison was critical of NSA whistle-blower Edward Snowden , saying that "Snowden had yet to identify a single person who had been 'wrongly injured' by the NSA's data collection". In 2012, he donated to both Democratic and Republican politicians, and in late 2014 hosted Republican senator Rand Paul at

1980-475: The greatest comebacks in sports history". Oracle Team USA was runner up in 2015–16 America's Cup World Series . Oracle Team USA was the defender of the 35th America's Cup . The event took place in the Great Sound of Bermuda in 2017, with challenger selection through the 2017 Louis Vuitton Cup on June 5–25. The finals against Emirates Team New Zealand were June 17–26. The new AC50 class rule governed

2040-594: The interpretation of the airport rule, contending that his Gulfstream V aircraft "is certified by the manufacturer to fly at two weights: 75,000 pounds, and at 90,000 pounds for heavier loads or long flights requiring more fuel. But the pilot only lands the plane in San Jose when it weighs 75,000 pounds or less, and has the logs to prove it." US District Judge Jeremy Fogel ruled in Ellison's favor in June 2001, calling for

2100-510: The lead up to the 2017 America's Cup . The series was won by Land Rover BAR and confers two points towards the 2017 Louis Vuitton Cup . The runner up was Oracle Team USA which confers one point toward the next competition. The series awards points exclusively for fleet races. They were raced in AC45F catamarans, modified from the previous AC45 series to incorporate hydrofoiling capability for improved performance, in strict one-design. The design

2160-471: The market for a relational database on Unix and Windows operating systems. This left the door open for Sybase , Oracle, Ingres , Informix , and eventually Microsoft to dominate mid-range systems and microcomputers. Around this time, Oracle fell behind Sybase. From 1990 to 1993, Sybase was the fastest-growing database company and the database industry's darling vendor, but soon it fell victim to merger mania . Sybase's 1996 merger with Powersoft resulted in

2220-537: The name Ellison to honor his point of entry into the United States, Ellis Island . Louis Ellison was a government employee who had made a small fortune in Chicago real estate, only to lose it during the Great Depression . Although Ellison was raised in a Reform Jewish home by his adoptive parents, who attended synagogue regularly, he remained a religious skeptic. At age 13, Ellison refused to have

2280-443: The new AC72 class, when the boat capsized during training off San Francisco on October 16, 2012. Oracle Team USA successfully defended the trophy and won the 2013 America's Cup on September 25, 2013. They accomplished this achievement by coming back from 7 points down and one point away from defeat in the series, and completing the largest in-series comeback in America's Cup history. The Wall Street Journal later called it "one of

2340-542: The northern tip of the Coromandel Peninsula to the northern tip of New Zealand's North Island . Larry Ellison This is an accepted version of this page Lawrence Joseph Ellison (born August 17, 1944) is an American businessman and entrepreneur who co-founded software company Oracle Corporation . He was Oracle's chief executive officer from 1977 to 2014 and is now its chief technology officer and executive chairman. As of November 13, 2024, he

2400-462: The races; Oracle Team USA launched their yacht in February 2017. Oracle Team USA ultimately lost the challenge 7–1 to Emirates Team New Zealand. Oracle Team USA did not issue a challenge within the initial challenging deadline for the 36th America’s Cup presented by Prada, June 30, 2018, ending Oracle's fifteen year presence in the Cup races. Oracle Team USA skipper James Spithill previously indicated he

2460-599: The rise of Microsoft SQL Server in the late 1990s and IBM's acquisition of Informix Software in 2001 to complement their DB2 database. As of 2013 Oracle's main competition for new database licenses on UNIX, Linux , and Windows operating systems comes from IBM's DB2 and from Microsoft SQL Server. IBM's DB2 still dominates the mainframe database market. In 2005, Ellison agreed to settle a four-year-old insider-trading lawsuit by offering to pay $ 100 million to charity in Oracle's name. In 2005, Oracle Corporation paid Ellison

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2520-443: The second race (in the best of three " deed of gift " series) of the 33rd America's Cup , after winning the first race two days earlier. Securing a historic victory, Ellison and his BMW Oracle team became the first challengers to win a "deed of gift" match. The Cup returned to American shores for the first time since 1995. Ellison served as a crew member in the second race. Previously, Ellison had filed several legal challenges, through

2580-492: The summer of 1966 in California, he then attended the University of Chicago for one term, where he studied physics and mathematics and also first encountered computer design . He then moved to Berkeley, California , and began his career as a computer programmer for different companies. During the 1970s, after a brief stint at Amdahl Corporation , Ellison began working for Ampex Corporation . His first project included

2640-501: The time of the purchase making him $ 3.5 billion personally. In 2017, Forbes estimated that Ellison was the 4th richest person in tech. In June 2018, Ellison's net worth was about $ 54.5 billion, according to Forbes . In December 2018, Ellison became a director on the board of Tesla, Inc. , after purchasing 3 million shares earlier that year. Ellison left the Tesla Board in August 2022. As of June 2020, Ellison

2700-471: The world, making David Geffen the sole owner. The vessel is 453 feet (138 metres) long, and reportedly cost over $ 200   million to build. He downsized to Musashi , a 288-foot (88-metre) yacht built by Feadship . Ellison competes in yachting through Oracle Team USA . Following success racing Maxi yachts , Ellison founded BMW Oracle Racing to compete for the 2003 Louis Vuitton Cup . In 2002, Ellison's Oracle's team introduced kite yachting into

2760-651: The worst personnel decision since the idiots on the Apple board fired Steve Jobs many years ago." (Ellison and Hurd were close personal friends.) Then on September 6, Oracle hired Mark Hurd as co-president alongside Safra Catz . Ellison remained in his current role at Oracle. In March 2010, the Forbes list of billionaires ranked Ellison as the sixth-richest person in the world and as the third-richest American, with an estimated net worth of over $ 28 billion. On July 27, 2010, The Wall Street Journal reported that Ellison

2820-448: The year ending May 31, 2009, he made $ 56.8 million. In 2006, Forbes ranked him as the richest Californian. In April 2009, after a tug-of-war with IBM and Hewlett-Packard , Oracle announced its intent to buy Sun Microsystems . On July 2, 2009, for the fourth year in a row, Oracle's board awarded Ellison another 7 million stock options. On August 22, 2009, it was reported that Ellison would be paid only $ 1 for his base salary for

2880-875: The years. Ellison was named one of the 100 most influential people in the world by Time magazine in 2024. 2015%E2%80%9316 America%27s Cup World Series America's Cup World Series Sport Sailing Founded 2011 No. of teams 6 Country [REDACTED]   New Zealand [REDACTED]   United States [REDACTED]   France [REDACTED]   Sweden [REDACTED]   United Kingdom [REDACTED]   Japan Most recent champion(s) Land Rover BAR Related competitions America's Cup [REDACTED] [REDACTED] AC45Fs in Bermuda, left, and Portsmouth, right The second America's Cup World Series were held between 2015 and 2016 in

2940-458: Was a qualified club under the Deed of Gift . After extensive court action, Golden Gate Yacht Club was declared Challenger of Record and sailed against SNG's team: Alinghi, in February 2010 in Valencia , Spain . The competing boats, Alinghi 5 and USA 17 were both 90-foot multihulls. BMW Oracle Racing won the America's Cup on February 14, 2010, off Valencia, Spain, beating Alinghi 2–0 in

3000-638: Was also revealed in 2021 that Ellison offered Netanyahu a post at Oracle. In 1997, Ellison received the Golden Plate Award of the American Academy of Achievement . In 2013, Ellison was inducted into the Bay Area Business Hall of Fame. In 2019, the Lawrence J. Ellison Institute for Transformative Medicine of USC honored Ellison with the first Rebels With A Cause Award in recognition of his generous support through

3060-496: Was an Italian-American United States Army Air Corps pilot. After Ellison contracted pneumonia at the age of nine months, his mother gave him to her aunt and uncle for adoption. He did not meet his biological mother again until he was 48. Ellison moved to Chicago's South Shore , then a middle-class neighborhood. He remembers his adoptive mother, Lillian Spellman Ellison, as warm and loving, in contrast to his austere, unsupportive, and often distant adoptive father, who had chosen

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3120-551: Was an early investor in Theranos . In August 2010 a report listed Ellison as one of the 40 billionaires who had signed " The Giving Pledge ". In May 2016 Ellison donated $ 200 million to the University of Southern California for establishing a cancer research center: the Lawrence J. Ellison Institute for Transformative Medicine of USC. It was renamed the Ellison Institute of Technology, and an additional campus

3180-430: Was bringing to a close its longstanding partnership with Oracle Racing and thereby ending its involvement in the America's Cup. Subsequently, the syndicate was renamed to Oracle Team USA to compete for the 2013 34th America's Cup. The team was created by purchasing the assets of Paul Cayard ’s AmericaOne syndicate which was the losing finalist against Luna Rossa in the 2000 Louis Vuitton Cup . The syndicate got off to

3240-479: Was due to the departure of former president Lawrence Summers . Oracle spokesman Bob Wynne announced, "It was really Larry Summers' brainchild and once it looked like Larry Summers was leaving, Larry Ellison reconsidered ... [I]t was Larry Ellison and Larry Summers that had initially come up with this notion." In 2007 Ellison pledged $ 500,000 to fortify a community centre in Sderot , Israel, after discovering that

3300-493: Was established in Oxford in 2023 with the intention of providing a scholarship program for 20 students each year. Ellison is a licensed pilot who has owned several aircraft. He was cited by the city of San Jose, California , for violating its limits on late-night takeoffs and landings from San Jose Mineta International Airport by planes weighing more than 75,000 pounds (34,019 kg). In January 2000, Ellison sued over

3360-437: Was front-page Silicon Valley news for three years. In April 1997, Informix announced a major revenue shortfall and earnings restatements. Phil White eventually landed in jail, and IBM absorbed Informix in 2001. Also in 1997, Ellison was made a director of Apple Computer after Steve Jobs returned to the company. Ellison resigned in 2002. With the defeat of Informix and of Sybase, Oracle enjoyed years of industry dominance until

3420-400: Was losing money. This crisis, which almost resulted in the company's bankruptcy, came about because of Oracle's "up-front" marketing strategy, in which sales people urged potential customers to buy the largest possible amount of software all at once. The sales people then booked the value of future license sales in the current quarter, thereby increasing their bonuses. This became a problem when

3480-515: Was reported to be between $ 500 million and $ 600 million. In 2013, according to The Wall Street Journal , Ellison earned $ 94.6 million. On September 18, 2014, Ellison appointed Mark Hurd to CEO of Oracle from his former position as president; Safra Catz was also made CEO, moving from her former role as CFO. Ellison assumed the positions of chief technology officer and executive chairman. In November 2016, Oracle bought NetSuite for $ 9.3 billion. Ellison owned 35% of NetSuite at

3540-495: Was returning to challenging team Luna Rossa for that competition. The BMW Oracle/Oracle USA team has owned a number of boats, including: The team also appeared on the Series 20 premiere of Top Gear , emerging victorious in what was called by some a Cat Vs. Car race. Set in New Zealand, it matched Oracle in its AC45 with James May as a passenger against Jeremy Clarkson in a rented Toyota Corolla or Toyota Auris from

3600-476: Was the highest-paid executive in the last decade, collecting a total compensation of US$ 1.84 billion. In September 2011, Ellison was listed on the Forbes list of billionaires as the fifth richest man in the world and was still the third richest American, with a net worth of about $ 36.5 billion. In September 2012, Ellison was again listed on the Forbes list of billionaires as the third richest American citizen, behind Bill Gates and Warren Buffett , with

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