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Billionaire Oracle founder reveals $1bn stake in Tesla

by Purvai Dua
9th Jan 19 10:00 am

Just days after Larry Ellison was appointed to the board of the electric carmaker, the billionaire Oracle founder has disclosed a more than $1bn stake in Tesla.

Tesla named Ellison– the world’s ninth-richest person with a net worth of $51.4bn — to its board in December as part of a settlement with regulators who demanded more oversight of the car maker’s CEO.

Ellison indirectly owns 3m Tesla shares through the Lawrence J. Ellison Revocable Trust, according to a filing to the Securities and Exchange Commission.

In October, Ellison had disclosed that Tesla was his second-largest investment, but gave no further details.

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