Oracle’s Larry Ellison Overtakes Bezos & Zuckerberg, Becomes World’s 2nd Richest Person
In a shocking 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, according to Forbes’ real-time billionaires list. The 80-year-old’s current net worth is estimated to be a staggering $258.8 billion, with his fortune reportedly rising after Oracle’s stocks rallied over the past week.
Ellison’s remarkable ascent to the second spot on the list comes as a surprise to many, given the long-standing dominance of tech moguls Bezos and Zuckerberg. Bezos, the founder of Amazon, had held the second spot on the list for several years, while Zuckerberg, the co-founder and CEO of Facebook, had been steadily climbing the ranks. However, Ellison’s recent gains have propelled him past both Bezos and Zuckerberg, with his net worth now trailing only that of Tesla CEO Elon Musk.
Oracle’s stock rally, which has seen the company’s shares surge by over 10% in the past week alone, has been attributed to a combination of factors. The company’s strong financial performance, including a 15% increase in quarterly revenue, has been cited as a major contributor to the stock’s rise. Additionally, Oracle’s expanding presence in the cloud computing market, as well as its growing focus on artificial intelligence and machine learning, have also boosted investor confidence.
Ellison’s rise to the second spot on the list marks a significant milestone in his long and storied career. The 80-year-old co-founder of Oracle has been instrumental in the company’s growth and success, and has been widely recognized for his innovative approach to business and technology. Under Ellison’s leadership, Oracle has become one of the largest and most successful technology companies in the world, with a market capitalization of over $2 trillion.
Bezos, who had held the second spot on the list for several years, has seen his net worth drop to around $258.5 billion. Zuckerberg, meanwhile, has seen his net worth fall to around $257.5 billion. The drop in their net worth is attributed to a combination of factors, including the decline in Amazon and Facebook’s stock prices over the past week.
Musk, who has long held the top spot on the list, continues to maintain his position as the world’s richest person. His net worth is estimated to be around $310 billion, thanks to the rapid growth of Tesla’s stock price over the past year.
Ellison’s rise to the second spot on the list is a testament to his enduring influence and success in the world of technology. Despite being 80 years old, Ellison remains a dominant force in the tech industry, and his company’s continued success is a reflection of his vision and leadership.
The news of Ellison’s rise to the second spot on the list has sent shockwaves through the tech community, with many analysts and investors scrambling to understand the implications of his newfound wealth. While it remains to be seen how Ellison will use his newfound wealth and influence, one thing is certain – he is now a major player in the world of tech, and his impact on the industry will be felt for years to come.
