Larry Ellison Closes in on Elon Musk as World's Richest Person

Larry Ellison, the co-founder of the Oracle Corporation, is close behind Elon Musk in the competition to become the richest individual on Earth.

The wealth of the 80-year-old technology billionaire has soared by 70 billion, following the exceptional quarterly earnings of Oracle announced on Tuesday that surpassed Wall Street expectations and projected growth in the future. Ellison now has an estimated net worth of approximately $257 billion, placing him just short of Musk who moves on the top with a value of 415.6 billion.

Oracle’s stock has nearly tripled since November 2022, fueled by the growing demand for artificial intelligence (AI) and cloud computing. The company’s partnerships with big names like OpenAI and xAI have made it a major player in the AI boom.

• Larry Ellison Nears Elon Musk as World’s Richest Person After Oracle AI Boom
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• Tech Billionaire Larry Ellison’s Fortune Hits $257B Amid AI and Cloud Growth

Ellison, who owns about 40% of Oracle, has seen his wealth jump by $59 billion this year alone. A recent tweak in Bloomberg’s Billionaires Index, accounting for shares used as loan collateral, boosted his net worth by $33 billion in just one day.

Ellison has since overtaken Mark Zuckerberg of Facebook and Jeff Bezos of Amazon to take the 2nd place in the world. His fortune is also not limited to Oracle, and he also controls 1.4 percent of Tesla, owns the Lanai island in Hawaii, and the Indian Wells tennis tournament. Ellison spends Oracle dividends and loans on yachts, jets, and luxury homes and has amassed more than 12 billion dollars since 2003, known for his flashy lifestyle.

Despite his lavish spending, Ellison has committed to giving away 95% of his fortune, focusing on medical research and education through his Ellison Institute of Technology. His recent collaboration with Musk on the $500 billion Stargate AI project shows he’s still a major force in tech and philanthropy.

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As Oracle rides the AI wave, Ellison’s rise in the billionaire rankings underscores how technology continues to reshape who holds the world’s biggest fortunes.