During the 1970s, Larry Ellison worked for the Ampex Corporation, where one of his projects for the CIA was a database which he named "Oracle."
Ellison was inspired by a paper called "A Relational Model of Data for Large Shared Data Banks," written by Edgar F. Codd about relational database systems. Ellison founded Oracle in 1977, putting up $2000 of his own money, under the name Software Development Laboratories.
In 1979 the company was renamed Relational Software Inc. It was later renamed Oracle after the company's flagship product - Ellison's Oracle database. Ellison had heard about the IBM System R database (which also based on Codd's theories) and wanted Oracle to be compatible, but IBM stopped this and kept the error codes for their DBMS secret. The initial release of Oracle was called Oracle 2, even though there was no Oracle 1. The release title was intended to convey the idea that all bugs or kinks had been worked out of an earlier version.
Reported to be one of the richest people in America by Forbes, it was reported in 2005 that Ellison's net worth was around $18.4 billion. For a short period in 2000, Ellison was the richest man in the world.
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