Oracle founder Ellison’s investments in Tesla pay off
By MYBRANDBOOK
When Elon Musk was facing fire from all directions including the U.S. Securities and Exchange Commission, Oracle founder Larry Ellison chose to join Tesla’s board in late 2018 amid the escalating crisis. That move has proved to be profitable.
Before becoming an independent director on the electric car maker’s board, Ellison acquired 3 million shares, when Tesla shares were trading at around $337. The recent Tesla rally has seen the stock appreciate by nearly 30% in the first 15 days of this year, which indicates that Ellison’s stake has gone up by over 60%.
The stake which Ellison spent $1 billion to purchase is now worth slightly over $1.6 billion.
Last year in June, the Oracle founder received 50,000 Tesla shares as compensation from the electric car maker. At the time of the stock award the shares were trading at roughly $223. This has resulted in a gain of 140%. This particular stock award has also recorded paper profits of nearly $16 million.
Ellison also received another stock award of 8334 shares in January last year. This raises the tally of the total number of shares he holds in Tesla to 3,058,334. The entire stake is now valued at about $1.65 billion.
The appreciation Oracle has recorded over the same period pales in comparison to that of Tesla. Since December 27th, 2018, when it was reported that Larry Ellison had acquired three million Tesla shares, Oracle has only gone up by 22%.
Oracle’s market cap is currently nearly twice that of Tesla.
BREAKING NEWS
TECHNO TRENDS
InterGlobe’s Rahul Bhatia and C.P. Gurnani together announce
In a move that is set to transform the AI landscape, Rahul Bhatia, Group M...
Download masked Aadhaar to improve privacy
Download a masked Aadhaar from UIDAI to improve privacy. Select masking w...
Sterlite Technologies' Rs 145 crore claim against BSNL rejecte
An arbitrator has rejected broadband technology company Sterlite Technolog...
ID-REDACT® ensures full compliance with the DPDP Act for Indi
Data Safeguard India Pvt Ltd, a wholly-owned subsidiary of Data Safeguard ...
E-Magazine
TECHNOTAINMENT
Salman Khan trolled for singing with B Praak at Anant Ambani's
To celebrate Mukesh Ambani's youngest son Anant Ambani’s 29th birthday
Disney+ Hotstar wins the Best OTT Platform of the year
Film Critics Guild and Group M Motion Entertainment, in collaboration with
MOVERS & SHAKERS
SISL elevates Ankita Wadhawan as CEO—End User Computing
The IT service provider, SISL in a LinkedIn post announced the elevation
InfoVision appoints Radhika Venkatraman to its Advisory Board
Global digital services company, InfoVision has announced the appointment
OPEN YOUR EYES
INTERVIEWS
Technology and a robust partner network help position Allied T
Allied Telesis in India has a strong and growing team that is very customer
AMD Pensando innovation CONTINUES
In 2022, AMD announced its acquisition of Pensando Systems, an addition to
HOT PICK
Canon India Introduces 4K Remote PTZ Camera Controller & 4K In
Canon India, a leading company in digital imaging solutions, further solidi
Dell Technologies launches the new consumer and gaming portfol
Dell Technologies has unveiled its newest line of AI-enabled consumer PCs
MAKE IN INDIA BRANDS
SAMRIDDHI AUTOMATIONS PVT. LTD.
DRUVA SOFTWARE PVT. LTD.
VERSA NETWORKS INDIA PVT. LTD.
LUMINOUS POWER TECHNOLOGIES PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Technology Icons Of India 2023: Josh Foulger
Josh is the Country Head of India and MD of Bharat FIH Ltd (A Foxconn ...
Technology Icons Of India 2023: Shailender Kumar
Shailender Kumar is senior vice president and regional managing direct...
Technology Icons Of India 2023: Ashish Kumar Chauhan
Ashish works as the CEO of the National Stock Exchange (NSE). He is al...
PARTNER SPEAKERS
PSU
HPCL is transforming the energy landscape, across the nation and beyond
HPCL is world-class energy company known for caring and delighting the...
INDIANOIL helps reach precious petroleum fuels to every nook and corner of the country
IndianOil, a diversified, integrated energy major with presence in alm...
PGCIL transforming India with its wide power transmission network
Engaged in power transmission, POWERGRID or PGCIL is a stated owned In...
VIDEOS
Top 25 Brands
Value-Added Distribution
ACCERON INFOSOL PVT. LTD.
It is a leading value added distributor in the IT security space and h...
M. TECH SOLUTIONS (I) PVT. LTD.
M.Tech is a leading cyber security and network performance solutions ...
ADITYA INFOTECH LTD.
Aditya Infotech Ltd. (AIL) – the technology arm of Aditya Group, is ...
ITFORUM 2024
WIITF 2024
CMO of the Year
WOMEN LEADERSHIP
EMINENT CIO's OF INDIA
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
