Oracle’s Founder Larry Ellison Just Took a Big Stake in This Company

Tesla has had a good week after reporting stellar earnings, having a notable shorter say positive things about the company and Oracle’s founder Larry Ellison disclosing a big personal stake in the company.

The billionaire disclosed that his second largest personal investment went to the electric vehicle giant, in a statement at the financial analyst meeting at the Oracle OpenWorld conference.

“My second-largest investment, I will disclose it now, I am not sure people know I am very close friends to Elon Musk and I am a very big investor in Tesla,” Ellison said. He added, “And so Tesla had a good day, and I think Tesla has a lot of upside.”

“I loved all the articles about how Elon doesn’t know what he is doing, the pictures of him smoking dope, you know, and The Wall Street Journal writing all these articles [saying] he is going to have to go out for money,” Ellison remarked. “This is not just about The Wall Street Journal.”

He asked, “Why should I believe you as opposed to my friend Elon while I am out here watching this rocket land, which I think is really cool, and you are there in front of your Apple Mac typing up an article saying Elon is an idiot?”

No specification was given on how many shares he has.

Disclaimer: We have no position in Tesla Inc. (NASDAQ: TSLA) and have not been compensated for this article.