Oracle CEO Larry Ellison Surpasses Jeff Bezos as World’s Second-Richest CEO
Tuesday, 17 September 2024, 04:55
Oracle CEO Larry Ellison's Net Worth Surge
Oracle Chief Executive Larry Ellison briefly became the world’s second-richest person on September 16, surpassing Amazon founder Jeff Bezos. This remarkable shift followed a surge in Oracle's stock price, which doubled in value, propelling Ellison's net worth to an astounding US$206 billion.
Market Dynamics and Growth
- Oracle shares increased by 5.1% on Monday and have gone up by 20% this month.
- This marks the highest percentage increase since October 2022.
- The rally followed positive earnings reports surpassing investor expectations.
Comparison with Elon Musk
Elon Musk remains firmly at the top of the wealth ladder with a net worth of US$251 billion and is projected to become the world’s first trillionaire by 2027.
Ambitious Strategies by Oracle
- Ellison announced plans to enhance Oracle's data center infrastructure.
- Oracle is considering a collaboration with Amazon for a new database service.
- Calls for regulation on AI surveillance practices were made, emphasizing transparency and accountability.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.