Sept. 10 (UPI) — Larry Ellison, the tech billionaire co-founder of software company Oracle, has reportedly surpassed ex-White House DOGE adviser Elon Musk as the world’s richest person.
Stock shares in Oracle — of which Ellison owns a more than 40% stake as Oracle’s largest shareholder — surged on Wednesday morning in early trading over 40% to $340 a share bringing Oracle’s valuation to around $958 billion.
According to Bloomberg’s billionaires index, it gives Ellison an estimated $393 billion fortune on paper ahead of the $384 billion bottom line for Tesla and SpaceX’s Musk.
Musk was declared the richest man on the planet in January 2021 for the first time only to be replaced by Amazon’s Jeff Bezos by March of last year.
But Ellison’s newfound notoriety on Wednesday was notably the “biggest one-day increase ever recorded,” Bloomberg added.
Ellison, a vocal supporter of U.S. President Donald Trump who has been seen at several White House events, was a college dropout who founded Oracle in 1977 and turned it into a top global software seller.
By the time Ellison stepped-down in 2014 as Oracle’s CEO, he had a net worth of more than $51 billion and was designated the fifth richest person in the world.
Nearly a year ago, Facebook founder and Meta CEO Mark Zuckerberg bypassed Bezos as the world’s second-richest billionaire, with a fortune of about $211 billion.
COMMENTS
Please let us know if you're having issues with commenting.