Oracle’s Larry Ellison Overtakes Bezos & Zuckerberg, Becomes World’s 2nd Richest Person
In a significant shift in the global billionaire’s list, 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 $258.8 billion, it stated.
Ellison’s fortune reportedly rose after Oracle’s stocks rallied over the past week. This sudden surge in his net worth has catapulted him to the second spot, leaving Bezos and Zuckerberg behind. The news comes as a surprise, given that Bezos, the CEO of Amazon, and Zuckerberg, the CEO of Facebook, have long been among the top three richest individuals in the world.
Ellison’s net worth has been steadily increasing in recent years, thanks to Oracle’s growing success in the cloud computing and artificial intelligence sectors. The company’s stock has been performing well, driven by its expanding presence in the global market. Oracle’s revenue has been steadily increasing, with a significant jump in the last quarter, which has contributed to Ellison’s growing wealth.
Bezos, who has been the richest person in the world for several years, has seen his net worth dip due to a decline in Amazon’s stock price. The e-commerce giant has been facing increased competition from other online retailers and has been grappling with rising costs and expenses. As a result, Bezos’ net worth has taken a hit, allowing Ellison to surpass him in the billionaire’s list.
Zuckerberg, who has been struggling with the aftermath of the Cambridge Analytica scandal, has also seen his net worth decline. The scandal, which involved the misuse of Facebook user data, has led to a decline in the company’s stock price and a loss of trust among users. As a result, Zuckerberg’s net worth has taken a hit, allowing Ellison to surpass him in the list.
Musk, who has been known for his innovative ideas and vision, has been the richest person in the world for several years. His net worth is estimated to be around $300 billion, thanks to his successful ventures in electric cars, solar energy, and space exploration. His companies, including Tesla and SpaceX, have been performing well, contributing to his growing wealth.
Ellison’s rise to the second spot is a testament to his business acumen and Oracle’s success in the global market. The company has been a major player in the technology industry for several decades and has been able to adapt to changing trends and technologies. Ellison’s leadership and vision have been instrumental in the company’s success, and his net worth reflects his hard work and dedication.
In conclusion, Larry Ellison’s rise to the second spot in the billionaire’s list is a significant development in the global technology industry. His net worth of $258.8 billion is a testament to his business acumen and Oracle’s success in the global market. As the company continues to grow and expand, it will be interesting to see how Ellison’s net worth evolves in the coming years.
