Oracle founder becomes the world’s second richest man with a net worth of 243 billion US dollars surpassing Bezos

[CNMO Technology News]On June 13, according to Forbes’ real-time rich list, Oracle co-founder and chairman Larry Ellison surpassed Amazon founder Jeff Bezos with a net worth of US$243 billion, and jumped to the world’s second richest man, second only to Tesla CEO Elon Musk. This wealth jump is mainly due to Oracle’s stock price continuing to rise recently. The single-day increase drives Ellison’s personal wealth to surge by $26 billion, setting a record for a single-day asset growth record for billionaires.

Larry Ellison

Ellison’s wealth growth is closely related to his stake in Oracle. As the company’s largest shareholder, he holds about 40% of the outstanding shares, and Oracle’s strong performance in the cloud computing and database markets in recent years has become the core driving force for the stock price increase. In September 2024, Oracle announced a partnership with Amazon AWS to allow AWS customers to use its database software on Oracle hardware, a strategic layout that further consolidates its position in the enterprise-level cloud services field. In addition, Ellison and Musk’s in-depth cooperation in the field of AI has also attracted much attention. In May 2024, Musk’s AI startup x.AI was revealed to have signed a US$10 billion data center contract with Oracle, and the joint development of the two parties in the fields of AI training and agricultural technology is also being promoted.

Although Ellison signed a “Donation Vow” in 2010, pledging to donate at least 95% of his wealth, his wealth transfer strategy still attracted attention. In 2024, a consortium led by his son David Ellison acquired National Amusements Inc. of the Redstone family for more than $8 billion, and then controlled Paramount Global. Ellison injected $6 billion into the project through a family trust. In addition, Ellison holds 3 million shares of Tesla through the Lawrence Ellison Revocable Trust and has provided $1 billion in funding for Musk’s acquisition of Twitter.

At present, the top three patterns of the global rich list show the characteristics of “Silicon Valley dominance”: Musk ranks first with assets of over US$340 billion, and Ellison, Bezos (US$215 billion) and Zuckerberg (US$216 billion) form the second echelon.

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