Bernard Arnault Loses Ground: Larry Ellison's Rise in Wealth

Bernard Arnault's Wealth Shift

Larry Ellison has overtaken Bernard Arnault to become the world's fourth-richest person with a $181 billion fortune. Oracle's cofounder and technology chief leapfrogged LVMH's founder and CEO on Monday, fueled by a 5% rise in his software company's stock, which increased his net worth by $7 billion.

Ellison's Financial Surge

Starting the year in eighth place on the Bloomberg Billionaires Index, Ellison's net worth has soared by $57.8 billion this year, making him the third-biggest wealth gainer following Meta CEO Mark Zuckerberg and Nvidia CEO Jensen Huang. He has outpaced notable figures such as Google's Larry Page, Bill Gates, and now Bernard Arnault.

• Top Billionaires:
• Elon Musk: $248 billion
• Jeff Bezos: $208 billion
• Mark Zuckerberg: $189 billion

Ellison's net worth has skyrocketed by 125% in just over two years, driven by a substantial interest in Oracle's stocks, which have surged alongside the AI boom.

A Glimpse into Oracle's Success

The surge in Oracle stock reflects investors' excitement about the company's role in the AI market, demonstrated by a 53% increase in contract backlog, which reached a record $99 billion. Ellison, who held the CEO position from 1977 to 2014, has also retained a 1.4% stake in Tesla, valued at around $10 billion.