Larry Ellison, the founder of Oracle, was the richest man in the world for a moment. The value of his shares increased by 40%, thus his assets were valued at USD 393 billion, not much more than USD 384 billion Elona Muska.
Larry Ellison’s richest man in the world
American technological billionaire Larry Ellison races with Musk in the race for the title of the richest man in the world. On Wednesday he overtook the president of Tesla. The value of his property increased rapidly after Oracle, a company dealing with business software, in which he has 41% of shares, announced better financial results than expectations.
Oracle shares increased by more than 40% in early notes, at some point the company was valued at around USD 960 billion. Ellison’s shares were worth USD 393 billion, which is more than Musk’s property (USD 384 billion). However, Ellison’s advantage did not last long, because the share price later dropped to USD 328. The hero of this text was therefore worth “only” USD 378 billion.
Two – Ellison and Musk – definitely ahead of Facebook’s founder Marek Zuckerberg and Jeff Bezos from Amazon.
Not only actions
It is worth adding, however, that Ellison also has other assets, including Shares in Tesla, a sailing team or … an island in Hawaii.
Ellison even sat on the board of Tesla – it took place in 2018–2022. He also invested a billion USD in Musk’s investment in Twitter (today X). According to Musk’s biography by Walter Isaacson, when the president of Tesla asked him for help in buying Twitter’s action, Ellison said he would gladly invest a billion USD. If you believe Biographers Musk, the head of Tesla is a frequent guest on the Hawaiian island of Ellison, Lanai.
Ellison is also a friend of Donald Trump and regularly appears alongside the US President, among others during the inauguration of the Stargate project, aimed at investing USD 500 billion in infrastructure of artificial intelligence in the USA.
Oracle can be an interesting action for bulls. Its value increased thanks to the demand from companies from the artificial intelligence industry for cloud services, which ensure computing power to AI project companies.
Who exactly is Ellison?
Ellison himself is a colorful character. In the 70s he worked at Ampex, where he gained experience in creating database systems. In 1977, together with a partner, he founded the company Software Development Laboratories (SDL), which was later renamed Oracle Corporation. Their goal was to create an efficient database management system, which resulted in one of the first commercial applications of the SQL language and enabled Oracle development.
Their first product – Oracle Database – turned out to be revolutionary. It enabled companies to easily store, manage and process large amounts of data. It was a time when computerization of business gained pace, and the demand for this type of solutions grew rapidly. Thanks to the aggressive marketing strategy, innovative technologies and concentration on corporate clients (banks, telecommunications companies, governments), Oracle quickly became the market leader. Today, the company serves millions of customers around the world and generates tens of billions of dollars of annual income.
