Oracle Chairman and CTO Larry Ellison has made a remarkable climb up the wealth charts, surpassing tech moguls Jeff Bezos and Mark Zuckerberg to become the world’s second richest person, according to Forbes’ real-time billionaires list. The 80-year-old’s current net worth is estimated to be a whopping $258.8 billion, just behind Tesla CEO Elon Musk who tops the list with a net worth of $302.5 billion.
Ellison’s fortune reportedly rose significantly over the past week, largely due to the impressive rally of Oracle’s stocks. The company’s shares have seen a sharp increase in value, which has contributed to Ellison’s net worth growth. This sudden surge has propelled him past Bezos, the founder of Amazon, and Zuckerberg, the CEO of Facebook, to claim the second spot on the list.
It’s worth noting that Ellison’s net worth is now closer to Musk’s than ever before. Just last year, Musk’s net worth surpassed $200 billion, leaving Ellison far behind. However, Oracle’s recent stock performance has bridged the gap between the two billionaires. At this rate, it’s possible that Ellison could potentially surpass Musk in the coming months if Oracle’s stocks continue to rise.
Bezos, who was previously the world’s second richest person, has seen his net worth drop to around $194.8 billion. Zuckerberg’s net worth is estimated to be around $143.8 billion. The top five richest people in the world, according to Forbes, are:
- Elon Musk – $302.5 billion
- Larry Ellison – $258.8 billion
- Jeff Bezos – $194.8 billion
- Bill Gates – $159.8 billion
- Mark Zuckerberg – $143.8 billion
Oracle’s recent success can be attributed to its strong performance in the cloud computing market. The company’s cloud services, including its database and infrastructure offerings, have seen significant growth in recent years. This growth has translated to increased revenue and profits for the company, which has contributed to Ellison’s net worth growth.
It’s also worth noting that Ellison’s net worth is likely to continue to grow as Oracle’s stock performance remains strong. The company’s recent acquisitions, including its purchase of NetSuite, have also boosted its valuation and contributed to Ellison’s net worth growth.
In conclusion, Larry Ellison’s remarkable rise to become the world’s second richest person is a testament to his entrepreneurial spirit and Oracle’s strong performance in the cloud computing market. As Oracle’s stock continues to rise, it’s likely that Ellison’s net worth will continue to grow, potentially even surpassing Musk’s in the coming months.
