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Ellison's 'cheap' cup campaign
AUCKLAND, New Zealand -- Software billionaire Larry Ellison wants to win the America's Cup -- and is prepared to pay millions to fund his bid for the Victorian-era wine container that was originally bought for $200 dollars. Ellison, 58, has dedicated $85 million from his personal fortune to a campaign for the cup in New Zealand this year. The self-made founder of the Oracle corporation ranks among the 10 wealthiest men in the United States and was briefly judged the richest man in the world in 2000. Although Oracle's profits have recently slumped, Ellison said "not a dime" of its money has been invested in the challenge.
Instead, he has spent a small part of his estimated $23 billion fortune to construct one of the strongest of nine teams from six countries challenging for the cup in Auckland waters from October 1. Whether he wins or not, he will always have a place in America's Cup history for an attributed remark about cup campaigning -- "It's cheap. I'm surprised more people don't do it." But Ellison has not always had money at his disposal. He was given up as a child by his mother and raised by an aunt in a lower middle-class area of Chicago. He attended the universities of Illinois and Chicago, leaving both without attaining a degree. Ellison released his first version of the Oracle information management system in 1979, beginning with a $2,000 investment and ended with a software empire. No stranger to hard work, he plans on steering the boat himself during cup races -- even though he has some of the best sailing talent in the world on his team. Oracle is considered one of the strongest among the nine challenge syndicates. Many wealthy men have chased the cup before Ellison and failed. But Ellison's approach is considered very practical and he has a reputation for meticulous planning, number crunching and turning ideas into reality. He is so confident of his chances, according to The Associated Press, that dockyard gossip has it his new super yacht has a special compartment to hold the cup.
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