According to documents unsealed by a judge in the shareholder lawsuit, Ellison habitually pushes his credit limit of more than a billion dollars to its maximum to finance his yachts and homes. And that's not even counting some $20 million a year he burns through in miscellaneous lifestyle expenses.
Of course, there's no question that Ellison, 62, is good for the loans. Forbes' famous list of wealthy people says the maverick entrepreneur is the nation's fifth richest individual, worth $17 billion, mostly in Oracle stock. Still, Ellison's spending and his reluctance to part with Oracle shares have caused his financial adviser fits of anxiety, the documents show.
Tuesday, January 31, 2006
Tax Cuts Are Great
By the way, while the shrubster advocates the trimming of fantatstically succesful programs that pomote the greater good this evening, I have one question that may be salient. Does Larry Ellison need another tax break more than the poor need Medicare and Medicade ?
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Read the Ellison sfgate.com link
Ellison doesn't appear to be all that different from Warren Buffett, the Sage of Omaha. They both have a lot of money. They both are heavily invested in their own companies. They both have been in business for a long time, Ellison since 1977. The difference is that Ellison spends his money, Buffett doesn't.
Buffett was against the latest Bush tax cuts for millionaires. He pays taxes at a lower rate than his personal secretary.
The rich probably don't spend a lot of time thinking about the problems of the poor any more than popular people think about the problems of the unpopular. The rich have their own problems.
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