Mark Hurd, the CEO of Oracle and former CEO of Hewlett-Packard (HP), died Friday at the age of 62. At the time of his death, Hurd had an estimated net worth north of $135 million, according to finance website Wallmine.
Per Wallmine, the $135 million figure is a representation of the late tech CEO’s wealth as of September 9. Much of Hurd’s wealth was amassed in the stock market. Hurd held some $44,776,869 in the form of 787,500 shares of Oracle, per Wallmine.
According to Google Finance, Oracle stock is currently worth just about 20 cents shy of $55 per share. Hurd also reportedly amassed some $85,960,125 in wealth through sales of Oracle stock spanning over the past 16 years. That wealth was in addition to the reported $4,595,023 he raked in each year as the CEO and board director at Oracle. While no small sum, the number seems tiny when compared to the reported $108,932,000 founder Larry Ellison earns each year, per Wallmine. Hurd was the third-highest paid staff member at the tech company.
Hurd’s most recent sale of Oracle stock reportedly came last month, when the former Hewlett-Packard CEO sold some 785,500 shares, which netted Hurd some $40,792,500 on September 3, per Wallmine. While Hurd was one of the highest paid tech CEOs, according to CNN, his net worth at the time of his death was nowhere near the $42.4 billion net worth estimated of David Koch when he died earlier this year.
Hurd’s road to wealth began in 1980 when he became a junior salesman at NCR. He would eventually work various positions at the company before serving as the head of the company’s Teradata division. Hurd joined Hewlett-Packard as CEO following the ousting of Carly Fiorina in 2005. In 2011, Hurd was reported to have taken a $12.2 million severance package from HP when he left the company amid sexual harassment allegations, per CNN.
Larry Ellison, founder of Oracle, issued a statement posted to Hurd’s personal website that confirmed the tech CEO’s death.
“Mark was my close and irreplaceable friend, and trusted colleague,” Ellison said in a memo to Oracle employees that was posted on Mark Hurd’s personal website. “Oracle has lost a brilliant and beloved leader who personally touched the lives of so many of us during his decade at Oracle. All of us will miss Mark’s keen mind and rare ability to analyze, simplify and solve problems quickly.”
According to CNN, the wealthy tech executive took a leave of absence from Oracle last month for what was noted to be an unspecified medical reason. Hurd had been with Oracle since 2010, serving as the head of the company’s board of directors and as its CEO alongside Safra Catz. Per CNN, Ellison assumed Hurd’s CEO roles when he announced he was stepping back due to medical reasons.
As CNN noted, Hurd began his role at Oracle less than a month after he resigned as the head of Hewlett-Packard after sexual harassment allegations were leveled against him. At the time, HP said an outside investigator did not find Hurd’s actions in violation of the technology company’s sexual assault policies, though Hurd himself admitted that he did not live up to standards in his actions while at the helm of HP.
Oracle had seen improvements since Hurd became CEO, though it still trails its competitors in the sector, per CNN.