Larry Ellison Becomes World’s Second-Richest Person, Passing Jeff Bezos

Photo: Larry Ellison, Jeff Bezos (Instagram)

Larry Ellison, the Chairman of Oracle, has become the second-richest person in the world, overtaking Amazon founder Jeff Bezos. This change happened as Oracle's stock surged by 5.1% on Monday, continuing its strong performance.

Ellison's wealth grew by $8.1 billion since Friday, reaching $206 billion. Bezos, who had held the second spot for many years, is now worth $203 billion. Elon Musk, the CEO of Tesla, remains the richest person, with $251 billion.

Oracle’s recent stock increase comes after the company reported earnings that exceeded expectations. This helped boost its future revenue forecasts and contributed to Ellison’s rise in wealth. Oracle’s shares have gone up by 20% this month, marking one of its best months since 2022.

Photo: Larry Ellison (Instagram)

One reason for Oracle's success is its involvement in the growing field of artificial intelligence. Ellison shared that Oracle is building data centers to meet the increasing demand for AI technology. He mentioned that these centers will help with training large language models, a key part of AI development.

Additionally, Oracle recently partnered with Amazon’s cloud service and has similar agreements with Microsoft and Google. These partnerships are expected to strengthen Oracle’s position in the tech industry.

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Source: CNBC 

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