Larry Ellison Becomes World’s Second-Richest Again—Passing Jeff Bezo: Details on 1st – 3rd Richest Emerge
Topline
Larry Ellison, Oracle’s billionaire chairman, surpassed Amazon founder Jeff Bezos as the second-richest person in the world as Oracle’s shares surged again Monday.
Key Facts
Ellison—who holds roughly 40% of Oracle’s shares—has a net worth of about $206 billion as of around 2:45 p.m. EDT after an increase of $8.3 billion (4.2%), according to Forbes’ Real-Time Billionaires list. …CONTINUE READING
Shares of Oracle have increased by nearly 5% to over $170, boosting Ellison’s net worth, while Amazon shares fell slightly (0.6%), subtracting about $1.6 billion from Bezos’ net worth of $203.4 billion.
Ellison now only trails Tesla CEO Elon Musk’s $250.7 billion fortune for the title of the world’s richest person, while Bezos now ranks just ahead of Meta founder Mark Zuckerberg ($183.5 billion).
Big Number
$34 billion. That’s how much Ellison’s fortune has increased since reaching $172 billion on Sept. 6, when Ellison was ranked as the world’s fifth-wealthiest person.
Key Background
Oracle’s stock has jumped 21% over the last five trading sessions after releasing a strong earnings report and guidance last week, surpassing analyst expectations. The cloud software firm also announced a partnership with Amazon Web Services, adding to earlier deals with Google and Microsoft. Oracle’s rally has swelled Ellison’s wealth, propelling the company’s 80-year-old chairman ahead of Zuckerberg and Bernard Arnault, the LVMH chief executive and Europe’s richest man.
Ellison is set to become the controlling shareholder of CBS parent Paramount once David Ellison, Larry’s son and Skydance Media’s CEO, completes a takeover of the firm.
