Piketty proposes a permanent annual tax on capital. It proposes rates of 1% for fortunes between 1 and 5 million euros and 2% above 5 million euros, which, if applied, could generate significant income. Larry Ellison, chairman of Oracles, worth $41 billion in September 2013, was a high school dropout who worked many odd jobs over the years until he founded what is now the one of the largest technology companies in the world (Business Insider). Ellison, who would be the ideal candidate for Piketty's tax, is an example of hard work and a "rags to riches" story, unlike the image Piketty paints of the rich getting richer through inheritance.