Bernard Arnault – Larry Ellison Takes the Crown from Jeff Bezos

Wednesday, 18 September 2024, 03:50

Bernard Arnault has made headlines as Larry Ellison dethrones Jeff Bezos to become the world's second richest person. With a staggering net worth of $206 billion, Ellison's rise follows a significant surge in Oracle's stock, reflecting his prominence in the tech industry.
Moneycontrol
Bernard Arnault – Larry Ellison Takes the Crown from Jeff Bezos

Larry Ellison: A New Era of Wealth

In recent financial news, Larry Ellison has emerged victorious, surpassing Jeff Bezos to become the world’s second richest person. Following Oracle's remarkable stock performance, Ellison's net worth has soared by $8.1 billion, marking a substantial milestone in the competitive world of billionaires.

Oracle and the AI Boom

Oracle's recent earnings report has ignited investor interest, pushing the stock price up by 20 percent this month. Ellison credits this success to the company's pivotal role in the artificial intelligence sector, revealing plans to develop innovative data centers to meet the rising demand for generative AI.

10 Things to Know About Larry Ellison

  • Ellison never completed college, dropping out shortly after losing his adoptive mother.
  • He began his career as a computer programmer for various organizations, including the CIA.
  • Founded Oracle in 1977, he's been a prominent figure in the company as chairman and CTO.
  • Ellison holds nearly 40% of Oracle shares.
  • He was on Tesla's board from 2018 to 2022 and still owns shares in the company.
  • His wealth trails only Elon Musk’s fortune.
  • In 2020, he moved to the Hawaiian island of Lanai after purchasing it in 2012.
  • He was the CEO of Oracle for 37 years until stepping down in 2014.
  • A skilled yachtsman, his team won the America's Cup in 2010.
  • His children are involved in the film industry with several notable productions.

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.


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