80-year-old Larry Ellison overtakes Mark Zuckerberg to become world’s second-richest person
In a shocking turn of events, Oracle co-founder Larry Ellison has surpassed Meta CEO Mark Zuckerberg to become the world’s second-richest person, according to the Bloomberg Billionaires Index. Ellison’s net worth has jumped to a staggering $251.2 billion, a significant boost that has propelled him to the second spot on the list.
Ellison, who is 80 years old, has been a dominant force in the tech industry for decades. He co-founded Oracle in 1977 and has since built the company into a global giant, known for its enterprise software and cloud computing services. Oracle’s success has been a major contributor to Ellison’s wealth, with over 80% of his net worth coming from the company’s stock and options.
The news of Ellison’s rise to the second spot on the billionaires list comes as a surprise to many, given his age and the fact that he has been relatively quiet about his personal finances in recent years. However, it is a testament to his enduring success and the value he has created through his business ventures.
Mark Zuckerberg, who has been the second-richest person in the world for several years, has seen his net worth take a hit due to the decline in Facebook’s stock price. The social media giant has faced numerous challenges in recent years, including increased competition from other platforms and a series of scandals that have damaged its reputation.
In contrast, Oracle has continued to thrive, with its stock price rising by over 20% in the past year. The company’s cloud computing business has been a major driver of its growth, with revenue from this segment increasing by over 30% in the past quarter.
Ellison’s rise to the second spot on the billionaires list is not the only notable development in the tech industry. Other tech moguls, such as Jeff Bezos and Bill Gates, continue to dominate the list, with their net worths exceeding $200 billion and $150 billion, respectively.
The Bloomberg Billionaires Index is a widely-followed ranking of the world’s wealthiest individuals, based on their net worth. The index takes into account the value of the individuals’ assets, including stocks, bonds, real estate, and other investments.
The rise of Ellison to the second spot on the billionaires list is a significant development in the tech industry, and it is likely to have implications for the industry as a whole. Ellison’s success is a testament to the power of entrepreneurship and the importance of innovation in driving economic growth.
In conclusion, the news of Larry Ellison’s rise to the second-richest person in the world is a significant development in the tech industry. Ellison’s success is a testament to the power of entrepreneurship and the importance of innovation in driving economic growth. As the tech industry continues to evolve, it will be interesting to see how Ellison and other tech moguls continue to shape the industry and shape the global economy.
