Larry Ellison Overtakes Jeff Bezos as World’s Second-Richest

Larry Ellison, the billionaire chairman and co-founder of Oracle Corporation, has reclaimed his position as the world’s second-richest person, surpassing Amazon founder Jeff Bezos. This shift in the rankings follows a significant surge in Oracle’s stock price, which saw Ellison’s net worth soar to approximately $206 billion as of 2:45 p.m. EDT. Ellison, who owns around 40% of Oracle’s shares, saw his wealth increase by $8.3 billion, or 4.2%, on Monday, driven by a notable rise in Oracle’s stock value. The company’s shares have climbed nearly 5% to exceed $170, further boosting Ellison’s financial standing. In contrast, Amazon’s shares experienced a minor decline of 0.6%, which resulted in a $1.6 billion reduction in Bezos’ net worth, bringing it down to $203.4 billion. As a result of these market fluctuations, Ellison now holds the position of the world’s second-richest individual, trailing only behind Tesla CEO Elon Musk, who leads with a net worth of $250.7 billion. Jeff Bezos, who previously occupied the second spot, now ranks just ahead of Meta founder Mark Zuckerberg, whose wealth stands at $183.5 billion.

Larry Ellison’s recent ascent to the second spot on the world’s wealth rankings is marked by a dramatic increase in his fortune. Since September 6, when his net worth was reported at $172 billion, Ellison’s wealth has surged by $34 billion. On that date, he was ranked as the fifth-richest person globally. This substantial rise underscores the recent volatility and dynamism in the tech industry, particularly reflecting Oracle’s impressive performance and strategic maneuvers.

The dramatic increase in Oracle’s stock price is a result of several positive developments. Over the past five trading sessions, Oracle’s shares have surged by 21%, fueled by the company’s strong earnings report and optimistic guidance released last week. This financial performance surpassed analyst expectations and highlighted Oracle’s robust growth trajectory. The cloud software firm has also strengthened its market position through strategic partnerships. Recently, Oracle announced a new alliance with Amazon Web Services (AWS), complementing its earlier agreements with major tech giants such as Google and Microsoft. These partnerships are seen as crucial in enhancing Oracle’s competitive edge in the cloud computing sector and have contributed significantly to the rise in its stock value.

Ellison’s surge in wealth has not only restored him to the second spot but also propelled him ahead of other prominent figures in the global wealth rankings. His newfound position places him above Meta’s Mark Zuckerberg and Bernard Arnault, the CEO of LVMH and Europe’s wealthiest individual. The fluctuations in the rankings reflect broader trends in the technology and finance sectors, where market conditions and company performance can rapidly alter the financial standings of leading executives and entrepreneurs.

In addition to his current achievements, Ellison is set to expand his influence further. He is poised to become the controlling shareholder of Paramount Global, the parent company of CBS. This transition is expected to occur once David Ellison, Larry’s son and the CEO of Skydance Media, completes the acquisition of the firm. This move will likely enhance Larry Ellison’s influence in the media industry and may contribute to future shifts in his wealth and rankings. Larry Ellison’s rise to the position of the world’s second-richest individual highlights the volatile nature of financial markets and the significant impact of corporate performance on personal wealth. The surge in Oracle’s stock price, driven by strong earnings and strategic partnerships, has been a key factor in Ellison’s financial ascent. As he continues to make strategic moves and expand his influence, Ellison’s position in the global wealth rankings may experience further changes, reflecting the dynamic interplay of market forces and corporate achievements.