- Oracle co-founder Larry Ellison has made a profit of $ 12 billion from his investment in Tesla.
- The tech billionaire bought the equivalent of 15 million shares in carmaker Elon Musk before joining his board in December 2018.
- Since then, Ellison’s share has grown from about $ 1 billion to $ 13 billion.
- Musk is close friends with Ellison and visited him on his Hawaiian island in December.
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Oracle co-founder Larry Ellison has earned $ 1
The tech giant and technology chief executive and former CEO bought the equivalent of 15 million shares in Elon Musk’s electric vehicle company before joining its board in December 2018.
Since then, Tesla’s share price has risen by about 1,200 percent, increasing the value of Ellison’s approximately 1.6 percent 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 that his bet on the carmaker is his second largest investment during a conversation with Oracle analysts in October 2018.
The tech billionaire also described Musk and himself as “very close friends” in the conversation. In fact, Musk flew to Lanai, Ellison’s Hawaiian Island, last month for advice from the head of Oracle.
Ellison’s Telis bet has helped increase his fortune to about $ 81 billion, making him the 10th richest man in the world, according to the Bloomberg Billionaires Index. Musk tops the net with a net worth of $ 200 billion in the north.