Oracle’s Larry Ellison Overtakes Bezos & Zuckerberg, Becomes World’s 2nd Richest Person
In a remarkable turn of events, Oracle Chairman and CTO Larry Ellison has surpassed billionaires Jeff Bezos and Mark Zuckerberg to become the world’s second richest person behind Tesla CEO Elon Musk, according to Forbes’ real-time billionaires list. The 80-year-old’s current net worth is estimated to be a staggering $258.8 billion, as reported by Forbes.
Ellison’s fortune reportedly rose after Oracle’s stocks rallied over the past week, sending the company’s value soaring. The tech mogul’s net worth has increased by more than $50 billion in the past few days alone, making him the richest person in the world, except for Elon Musk, who still holds the top spot.
This significant jump in Ellison’s net worth is attributed to Oracle’s strong performance in recent months. The company’s cloud computing services have been gaining popularity, driving revenue growth and boosting the company’s stock price. Oracle’s cloud business has been a key area of focus for the company, and its success has contributed to Ellison’s increased net worth.
Ellison’s rise to the second spot on the billionaires list is a testament to his remarkable entrepreneurial spirit and business acumen. He co-founded Oracle in 1977 with Bob Miner and Ed Oates, and has since grown the company into one of the largest and most successful technology companies in the world.
Under Ellison’s leadership, Oracle has expanded its operations to become a global leader in enterprise software, cloud computing, and artificial intelligence. The company’s portfolio includes a range of products and services, from database management systems to cloud-based applications and consulting services.
Ellison’s success is not limited to his business ventures. He is also a philanthropist and has donated millions of dollars to various charitable causes over the years. In 2010, he donated $150 million to the University of California, San Francisco, to establish the Lawrence Ellison Foundation, which focuses on medical research and healthcare initiatives.
The news of Ellison’s rise to the second spot on the billionaires list comes at a time when the global economy is facing unprecedented challenges. The COVID-19 pandemic has disrupted global supply chains, led to widespread job losses, and caused economic uncertainty. However, Ellison’s success is a testament to the resilience of the technology industry and the ability of entrepreneurs to adapt and thrive in challenging times.
In comparison, Jeff Bezos, the founder of Amazon, has seen his net worth decline in recent months due to the company’s struggles in the e-commerce space. Mark Zuckerberg, the co-founder and CEO of Facebook, has also seen his net worth decline due to the company’s struggles with regulatory issues and declining advertising revenue.
Ellison’s rise to the second spot on the billionaires list is a significant milestone in his career, and a testament to his enduring success as a businessman and entrepreneur. His ability to adapt to changing market conditions and capitalize on emerging trends has allowed him to maintain his position as one of the most successful entrepreneurs in the world.
In conclusion, Larry Ellison’s rise to the second spot on the billionaires list is a remarkable achievement, and a testament to his remarkable entrepreneurial spirit and business acumen. As the technology industry continues to evolve and shape the future of global commerce, it will be interesting to see how Ellison’s fortunes continue to grow and evolve.
