Title: Oracle’s Larry Ellison Overtakes Bezos & Zuckerberg, Becomes World’s 2nd Richest Person
In a significant shift in the global billionaire’s club, 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, it stated. His fortune reportedly rose after Oracle’s stocks rallied over the past week.
Ellison’s remarkable rise to the second spot on the billionaires list comes as a surprise, considering the dominance of tech moguls like Bezos and Zuckerberg in recent years. However, Oracle’s stock has been on a tear lately, driven by the company’s strong performance in the cloud computing space. The surge in Oracle’s stock price has significantly boosted Ellison’s net worth, propelling him past Bezos and Zuckerberg to the second spot.
Forbes’ real-time billionaires list tracks the net worth of the world’s richest people in real-time, providing a snapshot of the constantly evolving landscape of wealth. According to the list, Ellison’s net worth has increased by over $30 billion in the past week alone, a testament to the remarkable growth of Oracle’s stock.
Ellison’s ascension to the second spot is a significant milestone in the world of technology and finance. As the co-founder and CEO of Oracle, Ellison has played a pivotal role in shaping the company’s success, particularly in the cloud computing space. Oracle’s cloud offerings have seen significant adoption in recent years, driven by the growing demand for cloud-based solutions.
The rise of cloud computing has been a significant driver of Oracle’s growth, with the company’s cloud revenue increasing by over 25% in the last quarter. This growth has been fueled by the adoption of Oracle’s cloud-based solutions by enterprises around the world, including many of the world’s largest and most complex organizations.
Oracle’s success in the cloud space has been a major factor in Ellison’s net worth increase. The company’s cloud revenue has been growing at a rapid pace, driven by the increasing adoption of cloud-based solutions by enterprises. Oracle’s cloud offerings include a range of solutions, including cloud infrastructure, platform as a service, and software as a service.
In addition to Oracle’s cloud offerings, the company’s other businesses, including its database and middleware solutions, have also seen significant growth. Oracle’s database solutions are used by many of the world’s largest and most complex organizations, and the company’s middleware solutions provide a range of integration and development tools for developers.
Ellison’s net worth increase is also a testament to the power of tech entrepreneurship. As the co-founder and CEO of Oracle, Ellison has built the company from the ground up, and his vision and leadership have been instrumental in the company’s success. Oracle’s growth has been driven by Ellison’s focus on innovation and his commitment to delivering high-quality products and services to customers.
The rise of Ellison to the second spot on the billionaires list also highlights the growing importance of cloud computing in the tech industry. Cloud computing has become a key driver of growth for many tech companies, and Oracle’s success in this space is a testament to the company’s ability to adapt and innovate.
In conclusion, Oracle’s Chairman and CTO Larry Ellison has made a remarkable rise to become the world’s second richest person, surpassing billionaires Jeff Bezos and Mark Zuckerberg. Ellison’s net worth is estimated to be $258.8 billion, and his fortune has been boosted by Oracle’s strong performance in the cloud computing space. The rise of Ellison to the second spot is a significant milestone in the world of technology and finance, and highlights the growing importance of cloud computing in the tech industry.
