Billionaire Oracle Chairman Larry Ellison has overtaken Amazon founder Jeff Bezos as the world’s second-richest person, as Oracle shares jumped again on Monday (September 16).
Article by Ty Roush for Forbes US – translated by Flora Lucas
What you need to remember
Larry Ellison, who owns about 40% of Oracle, has a net worth of about $206 billion, an increase of $8.3 billion (4.2%), according to Oracle’s Real-Time Billionaires Rankings. Forbes.
Oracle shares rose nearly 5% to more than $170 a share, boosting Larry Ellison’s net worth, while Amazon shares fell slightly (0.6%), causing Jeff Bezos to lose about $1.6 billion, leaving him worth $203.4 billion.
Larry Ellison is now tied with Tesla CEO Elon Musk, who is worth $250.7 billion. Jeff Bezos is just ahead of Meta founder Mark Zuckerberg ($183.5 billion).
The figure to remember
$34 billion: Larry Ellison’s fortune has increased by $34 billion since September 6, when the Oracle chairman was worth $172 billion and was the fifth richest person in the world.
Context
Oracle shares have jumped 21% over the past five trading days after reporting earnings last week. The cloud software maker also announced a partnership with Amazon Web Services, adding to its previous deals with Google and Microsoft. The rally in Oracle’s stock has boosted Larry Ellison’s fortune, propelling the 80-year-old chairman past Mark Zuckerberg and Bernard Arnault, the chief executive of LVMH and Europe’s richest man. Ellison is expected to become the majority shareholder of Paramount, the parent company of CBS, once David Ellison, his son and CEO of Skydance Media, completes his acquisition of the company.
Also read: FORBES BILLIONAIRES RANKING | Larry Ellison passes Mark Zuckerberg and Bernard Arnault as Oracle shares hit record high
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