Billionaire Ellison Boosts Credit Line to $10.8 Billion

September 25, 2015, 4:38 PM EDT Updated on September 25, 2015, 4:59 PM EDT

Founder has 300 million shares of software maker as collateral
Stepped down as CEO to become chief technology officer in 2014

Billionaire Larry Ellison, the founder and former chief executive officer of Oracle Corp., has increased the amount of company stock he’s pledged against personal indebtedness and lines of credit to $10.8 billion.

Ellison, 71, holds 300 million shares of the Redwood City, California-based software maker as collateral, according to Oracle’s proxy statement released Friday. That compares with 250 million shares a year ago, valued at $9.9 billion at the time. He controls almost 1.16 billion Oracle shares, or about 27 percent of the world’s biggest database company.