Tech Titan Larry Ellison Soars, Surpassing Bezos and Zuckerberg
Oracle co-founder Larry Ellison has dramatically increased his net worth. The tech magnate’s wealth recently surged due to Oracle’s successful cloud computing division, vaulting him ahead of both Jeff Bezos and Mark Zuckerberg on the world’s rich list.
Ellison‘s Massive Financial Gains
Larry Ellison, at 80 years old, has become the second wealthiest individual globally. His fortune has reached an astounding $250.9 billion due to Oracle’s booming cloud computing operations, as reported by Forbes. He now trails only Elon Musk, who currently leads with $405.8 billion.
Oracle’s favorable financial report fueled a surge in its stock price. Owning about 41% of the company’s shares allowed Ellison to witness his wealth jump by $25 billion in just one day, with an additional $16 billion added soon after. Meanwhile, Jeff Bezos has a net worth of $229 billion, and Mark Zuckerberg is worth $240 billion.
The Oracle Visionary
Larry Ellison co-founded Oracle, initially a database software company, in 1977. Over the years, it has grown to be a worldwide leader in cloud computing. He has often been listed among the globe’s top ten wealthiest individuals.
Ellison is known for his distinct personality and his lavish lifestyle. In 2012, he acquired 98% of Lanai, Hawaii’s sixth-largest island, for approximately $300 million. Additionally, he holds a pilot’s license and has a fleet of military aircraft.
“I am not sure how many people know, but I’m very close friends with Elon Musk, and I’m a big investor in Tesla,”
—Larry Ellison, Tech Executive
Despite his immense wealth, Ellison reportedly earned just a $1 base salary for a long period, depending on extensive bonuses and stock options. The cloud computing market is projected to reach $791.48 billion by 2028 (Fortune Business Insights).
Notable Relationships
Ellison has a close friendship with Elon Musk, and he is a key investor in Tesla. In 2018, Musk added him to Tesla’s board. Ellison has also defended Musk publicly during controversies.
As Oracle continues to thrive, Ellison‘s financial success could further reshape the rankings of the world’s wealthiest individuals. The tech industry eagerly anticipates future developments.