The co-founder of Oracle, Larry Ellisonbecame on Wednesday the third richest person in the worldaccording to Forbes estimates, eclipsing rival tech mogul Jeff Bezoswhile the shares of the company of software Ellison’s soar to all-time highs.
Thanks to the Oracle shares surged nearly 5%, Ellison’s net worth rose 4% on Wednesdayup to $152 billion, leaving behind the $149 billion fortune of Amazon founder Bezos.
It’s the first time the Oracle co-founder has been the third-richest person on the planet, except for a brief stint on Tuesday.
Ellison is some 45,000 million dollars richer than just two months ago, when Oracle shares rose 45% thanks to the artificial intelligence craze; The businessman declared on Monday that Oracle was the “number one” provider of software generative artificial intelligence.
Oracle’s co-founder now stands behind Tesla CEO Elon Musk (235,000 million dollars), and the president of LVMH, Bernard Arnault ($225 billion), in net worth.
“He’s really one of the best engineers I’ve ever met,” Musk told Forbes of Ellison in 2020 (Ellison served on Tesla’s board from 2018 to 2022). «When we get involved in a technical issue, he understands it very quickly, even when he is outside his normal scope, not the software«.
First time millionaire in 1993
Forbes named billionaire to Ellison for the first time in 1993estimating his net worth at 1.6 billion of dollars.
Ellison co-founded Oracle 46 years ago, was CEO for 37 years, until 2017, and built the company into one of the most valuable tech companies in the world.
The billionaire is still the Oracle’s largest shareholder and president of its board of directors.
In addition to his involvement with Oracle, Ellison owns a real estate portfolio valued at more than one billion dollars, including an island in Hawaii that he bought for $300 million in 2012.
On the other hand, Ellison donated more than twenty million dollars to republican causes ahead of last year’s midterm elections, largely by funding a super-PAC linked to Sen. Tim Scott (R-South Carolina). The businessman was present at the official kickoff of Scott’s presidential campaign last month, prompting Scott to call Ellison one of his “mentors.”
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Who is Larry Ellison, the man who has surpassed Bezos in the list of the richest in the world – Forbes Spain