Billionaire Oracle founder Larry Ellison reveals $1bn stake in Tesla

Irving Hamilton
January 9, 2019

A 3 million-share stake would be worth about $1 billion based on Monday's close.

The billionaire, 74, indirectly owns 3 million Tesla shares through the Lawrence J. Ellison Revocable Trust, according to a filing made to the U.S. Securities and Exchange Commission. The disclosure came after Ellison, a close friend of Tesla Chief Executive Officer Elon Musk and a fellow larger-than-life technology titan, became a director in December.

Ellison's swelling stake may prove of further importance to Musk in this time of vulnerability.

Then, despite blasting the SEC again via Twitter only a few days prior, it was announced on the first day of October a year ago that Musk would stay on as CEO - only this time with two additional independent directors sitting on his board; an attempt to wrangle in the eccentric CEO as envisioned by officials at the SEC.

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Musk drew scrutiny from regulators in August when he tweeted that he was taking the company private at $420 share and had secured the necessary funding, initially causing Tesla's shares to spike.

Previously, Ellison-whose net worth is estimated at $54.5 billion, according to Forbes, making him the 10th-richest person on the planet-has stated he fells Musk had been treated unfairly by the media, mocking both the widespread coverage of the CEO smoking marijuana on The Joe Rogan Show podcast and journalists for writing stories decrying Musk. His stake in Oracle is worth about $39 billion.

Ellison said Tesla was his second-largest investment in October without being more specific. It represents about 1.7% of Tesla's shares outstanding.

Tesla's press office didn't immediately respond to an e-mail requesting comment on Ellison's holding.

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