Larry Ellison was listed in the Forbes Magazine in 2019 as the world’s 6th wealthiest person. Ellison is a business magnate, philanthropist, and a great investor. His wealth primarily originates from Oracle Corporation, where he is the co-founder. Larry Ellison has a broad real estate portfolio, owning homes across several important cities.
Apart from his endless wealth, Larry Ellison is known for his entrepreneurial DNA. He has been continuously growing his wealth through acquisitions, excellent negotiation, and managerial skills. These are some of the things that have made Larry Ellison successful. If you are looking to make it in the business world, taking some financial lessons from Larry Ellison will be worth your while. Here are some of the lessons from Ellison that you should pay attention to.
- Be greedy
Well, this might come out a little controversial as greed is often considered a vice that everyone should stay away from. Well, when it comes to the corporate world, it is something that you need to consider. For a long time, Larry Ellison has been the highest-paid executive bagging $76.9 million last year from Oracle.
This is to encourage you not to be afraid to ask for a high salary. Your employer knows your worth but will not declare it on your behalf. That is why you need to be aggressive when negotiating your compensation. It is only when you speak up that you will receive what you truly deserve.
- Never retire
If you have been a loyal follower of Larry Ellison, you will realize that he never speaks of retirement. If you look more closely, you will realize that other successful entrepreneurs and investors have no hurry to retire. At 76, Larry Ellison is still Oracle’s executive chairman.
Regardless of the nature of your job, you should never retire for two main reasons. One is because companies have a soft spot for older workers, and two, staying longer on the job maintains your financial health. This is one way that up to date Larry Ellison’s finances are improving by the day, and he can grow his wealth.
- Be competitive
Larry Ellison considers competition a great motivator. What motivates Larry to wake up every day and go to work is competition. If you are addicted to winning, nothing will stop you from soaring to greater heights. The urge to make a winning investment, being the best company in your industry, and being the best performing employee will push you to do great things, and especially in the light of finance.
- Play by your own rules
No one ever became successful by playing by other people’s rules. Your journey towards success begins when you start playing by your own rules and positively breaking the rules set by others. Breaking the rules involves stepping out of your comfort zone and doing things that other people are too afraid to do.
Larry Ellison encourages people to find the flaws in the conventional rules and innovate to move forward in business. That is how rules are broken, and exceptional performance is achieved.
- Discuss competitors
Well, this is something that most corporates and employees at different levels in an organization would be afraid to do. Unless you are able to show people why you are better than your competitor, they might not be encouraged to work or consider you.
Larry Ellison has been very brave and not afraid to discuss competitors and participate in corporate smack talk, and it is one of the things that have made Oracle Corporation shine so bright. You are allowed to do this through your marketing campaigns, provided it is constructive. Remind people of your worth, and it will stick with them.
- Do not limit yourself
Financial success involves constant growth. One of the greatest lessons to learn from Larry Ellison in this light is his efforts in driving Oracle Corporation to become the world’s biggest and most successful database software provider. He did not stop at that; he ensured that Oracle corporation dominated the business software niche. The idea is to grow through reinventing. There is nothing to stop you, and you should take advantage of that fact.
- You don’t need to have the best college degrees to be successful
Despite dropping out of college, Ellison was still able to invent a database. All it took him was the knowledge he had acquired in school about computer design and reading a paper on inventing a database. This does not, however, mean that education is not essential. The knowledge he got from school played a significant role in helping him invent a database.
However, the lesson is that inability to complete college or become a professor should not stop you from doing great things.
One of the greatest ways to improve your life is learning from the stories of other people. Larry Ellison is a phenomenal investor and businessman from whom people can borrow great finance success lessons from.