Larry Ellison Tops Bloomberg Billionaires Index as Richest Man

According to the Bloomberg Billionaires Index, Oracle co-founder Larry Ellison has surpassed Tesla CEO Elon Musk on the global rich list, becoming the world's richest individual with a net worth of $393 billion, surpassing Musk's $385 billion fortune. Ellison's net worth increased by a staggering $101 billion after Oracle Corp reported quarterly results that exceeded expectations.

The tech billionaire's $101 billion wealth surge is the largest one-day increase ever recorded by Bloomberg.

Key Highlights

• Larry Ellison’s net worth rose $101 billion in one day, propelling him past Elon Musk. 
• Oracle’s AI-cloud deals fueled unprecedented wealth surge, making Ellison world’s richest person.

Who is Larry Ellison?

Larry Ellison was born in 1944 in New York City to Florence Spellman, an unmarried 19-year-old Jewish woman. He contracted pneumonia at nine months old and was given up for adoption by his birth mother to his mother's aunt and uncle, Lillian and Louis Ellison. Larry was raised in Chicago by foster parents, but he didn't realize he was adopted until he was 12, a discovery that shaped his worldview significantly.

Larry Ellison co-founded Oracle in 1977 as a database software company, and it has since grown into a global cloud computing powerhouse. The 80-year-old is currently the Chairman and Chief Technology Officer of Oracle Corporation, and he owns 41% of the company's stock.

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

How did Larry Ellison become the world's richest man?

Larry Ellison's wealth has grown exponentially as a result of a recent surge in Oracle stock prices, including an astonishing $101 billion increase--the largest ever recorded by Bloomberg--on Wednesday, which pushed him past Elon Musk's $385 billion net worth. According to Bloomberg, Ellison's wealth increased by $41 billion in just two days in June, with $25 billion added in a single day.

Interestingly, Larry Ellison is a close friend of Elon Musk and a significant investor in Tesla, having previously served on the company's board from December 2018 to August 2022. "I don't know how many people know this... but I am a close friend of Elon Musk and a big investor in Tesla," Ellison said in a 2018 interview. The Oracle CEO has also defended Musk in several controversies involving the world's richest man.