Posted by: Derek Kuhr
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There’s yet another interesting story out this week about Larry Ellison‘s unbelievable nack for making money.
The story, which appears on Forbes.com, talks about the Ellison-based NetSuite — an online CRM applications provider — plans to go public this week. They’re saying that prospects for NetSuite’s stock prices are mixed, but Ellison, who also back NetSuite rival Salesforce.com, as well as, of course, Oracle, is poised to bring home a giant sack of cash.
According to the article, even if NetSuite’s stock prices tanks, Ellison has already profited and will continue to profit from the Software-as-a-Service trend.
Once the IPO is completed Ellison and his family will control more than 65% of NetSuite’s common stock, says Forbes. But Ellison will not be in charge of the company.