Oracle founder wanted to buy Apple & fire its CEO, but Steve Jobs stopped him
Oracle founder Larry Ellison revealed he once planned to buy Apple for $5 billion and install Steve Jobs as CEO. Jobs rejected the hostile takeover, preferring to return to Apple on his own terms through the acquisition of his company, NeXT.
Why it matters
This historical anecdote provides insight into the leadership philosophies of two of the most influential figures in the technology industry.
Larry Ellison once had the money, the credit, and a fully worked-out plan to buy Apple outright. What he did not have was Steve Jobs' agreement. The Oracle co-founder revealed in a 2016 USC commencement speech that back in the mid-1990s, when Apple was worth roughly Rs 41,500 crore—about $5 billion—he had arranged to borrow every dollar needed to seize control of the struggling company and reinstall his close friend as CEO.The catch was Jobs himself. Ellison's pitch was blunt: buy Apple, hand Jobs the top job, done. But Jobs turned it down flat, telling Ellison he did not want power handed to him through a takeover.
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