Oracle’s Ellison reveals $1-billion stake in Tesla

Larry Ellison Invests $1B In Tesla

At the time of his appointment last month to the Tesla Inc (NASDAQ: TSLA) board, Ellison disclosed ownership of 3 million company shares, according to an SEC filing. According to Investopedia, Tesla chief technology officer and co-founder Jeffrey Straubel owned 326,301 shares of the company as of a 2017 SEC filing, which at the time made him the second-largest individual holder of $TSLA.

Only weeks later we were informed that Larry Ellison, another eccentric self-made billionaire, would be one of the directors appointed to Tesla's board.

Impressive a chunk of change as $1 billion is, Ellison's 3 million shares of Tesla stock pale in comparison to CEO Musk's piece of the pie. It's now one of the most valuable auto companies in the world, turning out more than 4,700 Model 3s each week after struggling a year ago to get just a few hundred off assembly lines.

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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. Both he and the company agreed to pay US$20 million penalties and added Ellison and human resources specialist Kathleen Wilson-Thompson as board members. Ellison's now $1 billion in shares represents a mere sliver of his $51.4 billion in wealth.

Ellison is the world's sixth richest man according to Forbes and was often cited as a major investor in Tesla. At an analyst meeting in October 2018, he said he had been building a personal stake in Tesla and that it was his second-largest holding, media reports stated. His stake in Oracle is worth about $39 billion.

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

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