Billionaire Larry Ellison, among world’s richest people, bought Florida estate for $173 million

Billionaire Larry Ellison, who was recently ranked by Forbes as the world’s eighth-richest person, just dropped $173 million of his fortune to buy a Florida compound in Manalapan, the wealthy town south of Palm Beach. The transaction marks the largest residential sale ever in Florida.

Ellison bought the ocean-to-lake estate — and part of nearby Bird Island in the Intracoastal Waterway — from a trust controlled by a fellow software billionaire, Jim Clark. In all, the estate and its island measure more than 22 acres.

Read about the estate Ellison just bought: A Florida ‘most expensive’ residential record: Waterfront estate sells for $173 million

So who is Larry Ellison? Here’s a quick look at the billionaire.

How rich is Larry Ellison?

On June 22, the day the deed recorded for the Florida sale, Forbes estimated the 77-year-old’s net worth at $93.6 billion.

How did Larry Ellison get his fortune?

Ellison co-founded Oracle Corp. with two partners in Santa Clara, California, in 1977. Today, the software powerhouse bills itself as the world’s largest database-management company. Ellison spent 37 years as CEO and still holds the titles of chairman and chief technology officer at the company, which is headquartered in Austin, Texas. His ownership stake in the company is about 35 percent, according to Forbes.

USA Today takes a look back: As he steps down from Oracle, here are Larry Ellison's titanic moments

What about Larry Ellison’s Tesla ties?

Among Ellison’s most well-publicized stock purchases, he invested heavily in his billionaire friend Elon Musk’s Tesla and joined the company’s board in 2018. This month, Tesla reported that Ellison would be stepping down from the board.

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Did Larry Ellison go to college?

Yes, but he didn’t graduate. He dropped out of the University of Chicago and the University of Illinois, Urbana-Champaign, according to Bloomberg and other published reports.