A tech company co-founder has overtaken Jeff Bezos and Mark Zuckerberg to become the second richest man in the world after his business’s stock rose, making him $40 million richer, according to report by Fortune.
Thanks to the booming success of Oracle’s cloud computing business, Larry Ellison’s fortune has now reached $250.9 billion, according to Forbes, placing him just behind Tesla and SpaceX CEO Elon Musk, who leads with $405.8 billion.
Oracle’s strong earnings report sent its stock soaring. With Ellison owning nearly 41% of the company’s shares, his wealth jumped by $25 billion in a single day and grew by another $16 billion shortly after.
Meanwhile, Amazon founder Jeff Bezos is currently worth $229 billion, and Meta CEO Mark Zuckerberg holds a net worth of $240 billion.
Who is Larry Ellison?
The 80-year-old tech titan co-founded Oracle in 1977 as a database software company. Over the decades, it grew into a global cloud computing powerhouse, often making him a part of the world’s top 10 richest list.
Ellison is known for his bold personality and extravagant lifestyle. In 2012, he bought 98% of Lanai, Hawaii’s sixth-largest island, for about $300 million. He’s also a licensed pilot and owns military aircraft.
Despite being one of the world’s richest people, Ellison famously took just a $1 base salary for years, relying on massive bonuses and stock options.
Friendship with Elon Musk
“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,” Ellison said in 2018, the year Musk named him to Tesla’s board.
He has publicly defended Musk amid controversies, including backlash over the billionaire’s behaviour. He once reportedly invited him to “dry out” at his Hawaii estate after reports of his alleged drug use.
