Larry Ellison Surpasses Bezos and Zuckerberg: The 80-Year-Old Tech Titan’s $40 Billion Windfall
Larry Ellison Surges to Second Richest in the World After $40 Billion Windfall
In a stunning financial turnaround, Larry Ellison, the 80-year-old co-founder of Oracle, has catapulted to the title of the second richest person in the world, surpassing tech giants Jeff Bezos and Mark Zuckerberg. This remarkable shift comes on the heels of Oracle’s impressive earnings report, which sent its stock soaring and Ellison’s net worth skyrocketing by a staggering $40 billion in just one week.
According to a recent report by Fortune, Ellison’s fortune now stands at an astonishing $250.9 billion, placing him just behind Elon Musk, the CEO of Tesla and SpaceX, who leads with a net worth of $405.8 billion. The surge in Ellison’s wealth is largely attributed to his substantial ownership stake in Oracle, where he holds nearly 41% of the company’s shares. Following the earnings announcement, his wealth jumped by $25 billion in a single day, with an additional $16 billion added shortly thereafter.
The Rise of Oracle
Founded in 1977 as a database software company, Oracle has transformed into a global powerhouse in cloud computing, a sector that has seen explosive growth in recent years. This shift has not only bolstered the company’s stock but also solidified Ellison’s position among the world’s wealthiest individuals.
A Life of Extravagance
Known for his bold personality and extravagant lifestyle, Ellison has made headlines for his lavish purchases, including the acquisition of 98% of Lanai, Hawaii’s sixth-largest island, for approximately $300 million. A licensed pilot, he also owns military aircraft, showcasing his penchant for the extraordinary.
Despite his immense wealth, Ellison famously took a base salary of just $1 for years, relying instead on substantial bonuses and stock options to build his fortune.
A Unique Friendship with Elon Musk
Ellison’s connections in the tech world extend beyond Oracle. He has a close friendship with Elon Musk, having publicly defended the Tesla CEO during various controversies. In 2018, Ellison revealed his investment in Tesla and was named to the company’s board, further solidifying their bond.
As the tech landscape continues to evolve, Larry Ellison’s remarkable journey from a database software pioneer to a billionaire titan serves as a testament to the ever-changing dynamics of wealth in the digital age. With Oracle’s continued success, it seems likely that Ellison’s financial ascent is far from over.