What is Larry Ellison's net worth? Oracle co-founder briefly surpasses Elon Musk to become world richest man
Larry Ellison briefly surpassed Elon Musk as the world's richest person, with a net worth of $393 billion following Oracle's impressive quarterly results.
In a first, Larry Ellison briefly surpassed Elon Musk as the richest person in the world, ending Space X CEO's almost year-long dominance.
As of 10:10 a.m. New York time, Ellison's wealth ballooned to $101 billion following Oracle Corp.'s release of quarterly results.
According to the Bloomberg Billionaires Index, his overall wealth reached $393 billion, surpassing Musk's $385 billion. It was the most dramatic one-day gain the index has ever seen.
Musk first held the title of richest person in the world in 2021 before conceding it to Amazon founder Jeff Bezos and Bernard Arnault of LVMH. Musk reclaimed the world richest man's last year and maintained it for over 300 days.
All about Larry Ellison's investments
The majority of 81-year-old Ellison's net worth is invested in Oracle, the database software firm he co-founded and currently serves as chairman and chief technology officer.
Following a significant boost in reservations and an optimistic prognosis for its cloud infrastructure business, Oracle's stock, which had already increased by 45% this year by Tuesday's closing, surged 41% on Wednesday. The company has never experienced such a significant one-day increase.
In July, two-time college dropout Ellison became the second richest man in the world, surpassing both Bezos and Meta CEO Mark Zuckerberg. At that time, his net worth had increased significantly to around $276 billion.
In comparison, Tesla Inc.'s stock has dropped 13% so far this year.
If Musk is successful in reaching a number of important objectives, the company's board has suggested a huge compensation package that may make him the first trillionaire in history.
Who is Larry Ellison? What we know about his family
After being born to a single mother in New York, Larry was reared by an adoptive relative in Chicago. His schooling started out promisingly when he took admission at the University of Illinois at Urbana-Champaign as a science and pre-med student.
But in a sad turn of events, he withdrew right before his final examinations, and his adoptive mother died when he was in his second year. He made the decision to return to school and enrolled at the University of Chicago, where he learned about programming and computers. Unfortunately, Ellison left school again just after one semester.
Larry Ellison vs Elon Musk: Here's what Forbes real time data says
According to Forbes real time data, Musk's net worth is estimated to be around $439.4 billion while Ellison's currently stands at $401.1 billion
