Oracle's Larry Ellison Briefly Outpaces Jeff Bezos as World's Second-richest Person

California: Larry Ellison, the 80-year-old co-founder of Oracle, has recently claimed the title of the world’s second-richest person, surpassing Amazon founder Jeff Bezos. This achievement came after Oracle's shares surged to their best performance in two years, boosting Ellison's net worth to an astonishing $208.4 billion, according to Forbes. Although his fortune briefly dipped below Bezos', the rise in Oracle's stock has placed Ellison firmly in the spotlight once again.

Oracle’s Growth Linked to Ellison's Fortune

Ellison’s success is closely tied to the growth of Oracle, a company he co-founded in 1977. Initially, Oracle was best known for its database software, but in recent years, the company has shifted its focus to cloud technology. This pivot has paid off, with Oracle becoming a key player in the cloud infrastructure market which is mostly dominated by tech giants like Amazon , Microsoft, and Google.

Oracle's stock saw a remarkable 54% increase this year, largely driven by the growing demand for cloud services and AI technology. The company’s recent partnerships with Amazon Web Services (AWS) and Microsoft have further improved its position in the market, allowing customers to integrate Oracle’s cloud software with other platforms. These developments have led to a surge in Oracle’s share price, making Ellison one of the biggest beneficiaries.

Billion Dollar Man 

Ellison owns around 40% of Oracle’s stock, making him the company’s largest shareholder. Over the years, he has strategically increased his stake by buying back shares, boosting his personal fortune. Oracle’s resurgence in cloud computing has only added to Ellison’s wealth, which now stands at nearly $200 billion.

Despite Oracle’s late entry into the cloud market, Ellison has managed to steer the company toward success. His vision for Oracle's cloud infrastructure has been a key factor in the company's growth, particularly as the demand for AI technology continues to rise. Ellison himself has emphasized the importance of AI, predicting that training advanced AI models will become a multi-billion-dollar industry in the coming years.

Who is Larry Ellison?

Born in New York in 1944, Ellison moved to California in the 1960s, where he eventually co-founded Oracle. The company quickly grew into a leading provider of database software, and by the late 1990s, Ellison had established himself as one of Silicon Valley’s most prominent figures.

His influence extends beyond Oracle. Over the years, Ellison has invested in various ventures, including Tesla, where he served as a board member, and even acquired the Hawaiian island of Lanai in 2012. His lavish lifestyle, including owning multiple luxury homes and yachts, has often made headlines, but it is his business acumen that has kept him at the forefront of the tech world.

The Future of Oracle

As Oracle continues to expand its cloud services and forge new partnerships, Ellison’s wealth is likely to grow even further. The company's recent success, particularly in the AI space, has positioned it as a serious contender in the tech industry. While it still lags behind giants like Amazon and Microsoft in terms of market share, Oracle’s strategic moves suggest it will remain a key player in the years to come.