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

Larry Ellison, the founder of Oracle Corporation, has acquired 3 million Tesla shares for $1 billion, the carmaker confirmed in a regulatory filing on January 8.

Tesla named Ellison, who's reportedly close friends with chief executive Elon Musk, to its board in December as part of a settlement with the SEC, which was created in part to enhance oversight at the company.

Ellison owns 3 million shares of Tesla.

Then, despite blasting the SEC again via Twitter only a few days prior, it was announced on the first day of October a year ago that Musk would stay on as CEO - only this time with two additional independent directors sitting on his board; an attempt to wrangle in the eccentric CEO as envisioned by officials at the SEC.

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The SEC moved to punish Tesla and Musk because it alleged he committed fraud by tweeting that he had the "funding secured" to take the company private at $420 a share. Both he and the company agreed to pay $20 million penalties and added Ellison and human resources expert Kathleen Wilson-Thompson as directors.

Tesla shares were up 1.21 percent, to $339.03 per share, as of half an hour after the opening of market trading.

Ellison is the world's ninth-richest person with a net worth of US$51.4 billion, according to the Bloomberg Billionaires Index. His stake in Oracle is worth about $39 billion. "We're out here watching this rocket land, which I think is really cool, and you're there in front of your Apple Macintosh, and typing up an article saying Elon's an idiot", Ellison said during an October analyst meeting where he also said Tesla was his second-biggest investment, according to Bloomberg and Business Insider.

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

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