Who Is Larry Ellison? Oracle Co-Founder Surpasses Zuckerberg To Become World's Second Richest Person
The latest surge in Ellison’s wealth was witnessed after Oracle announced plans to invest $3 billion in AI in Germany and the Netherlands over the next five years.
Software giant Oracle Co-Founder Larry Ellison has replaced Meta CEO Mark Zuckerberg as the world’s second-richest person. As of Wednesday, July 16, Ellison’s net worth reached $251 billion after a $4.71 billion gain during Tuesday’s trading session. In contrast, Zuckerberg saw a $3.59 billion drop in his fortune, ending up at third place on the global rich list.
Both tech magnates now hold nearly $251 billion in net worth, with Ellison narrowly remaining ahead, according to Bloomberg’s Billionaire Index. The latest surge in Ellison’s wealth followed as Oracle shares gained 2.48% on Tuesday, ending at nearly $235 per share, after the company announced plans to invest $3 billion over five years in AI in Germany and the Netherlands.
The data showed that 80-year-old Ellison has added $59 billion to his wealth so far this year. On the other hand, Zuckerberg’s fortune has grown by $43.4 billion in the same period. Meanwhile, Elon Musk remains the world’s richest person, boasting a net worth of $358 billion, the index shows.
Notably, eight of the top 10 positions on the world’s richest list are held by tech tycoons, including Nvidia founder Jensen Huang, former Microsoft CEO Steve Ballmer, and Google Co-Founder Larry Page.
Who Is Larry Ellison?
New York-born Ellison is the chairman, chief technology officer and co-founder of software giant Oracle. The US multinational is recognised as the world’s largest database management company.
Ellison founded Oracle in 1977 and served as its CEO for 37 years until 2014. He owns roughly 40% of the company and has also served on the Board of Tesla from December 2018 to August 2022.
According to Forbes, Ellison’s net worth was $59 billion in 2020, marking a remarkable increase of over 325% in just five years. In 2020, he also relocated permanently to the Hawaiian island of Lanai. He had purchased the island in 2012 for $300 million.
Ellison is currently married to 33-year-old Jolin Zhu. According to reports, it is his fifth marriage.
He is the father of David Ellison, who has produced movies such as The Terminator and Mission: Impossible. Ellison's daughter Megan is also a film producer and entrepreneur.
