Join WhatsApp
Join NowLarry Ellison becomes the world’s richest person after Oracle shares jumped 41%, increasing his wealth by $101 billion. Read the full story in detail.
Larry Ellison, co-founder and current Chairman & Chief Technology Officer (CTO) of tech giant Oracle, has become the world’s richest person for the first time in history. He surpassed American billionaire Elon Musk after Oracle presented its quarterly financial results on September 10. Following the announcement, Oracle’s stock surged significantly, resulting in a sudden $101 billion increase in Ellison’s net worth.
Unprecedented Wealth Increase
On September 10, Oracle shares saw an incredible 41% jump. As a result, Larry Ellison’s total net worth reached $393 billion. According to Bloomberg Billionaires Index, this is the first time in history that a billionaire’s wealth increased by such a huge amount in just one day.
Elon Musk had been at the top of the list since 2021 when he became the world’s richest person for the first time. Following that, Jeff Bezos and Bernard Arnault briefly took the top position, but Musk regained the number one spot last year. Now, after nearly 300 days, Ellison has overtaken Musk.
Humble Beginnings of Oracle
Born in 1944, Larry Ellison co-founded Oracle with just $2,000. His vision and deep understanding of technology helped transform Oracle into one of the world’s largest software companies. Currently, Ellison holds a 41% stake in the company.
He served as CEO for 37 consecutive years before stepping down in 2014, though he remains actively involved in the company’s growth and innovation.
Personal Life and Hobbies
Larry Ellison is not just a business magnate but also an adventure enthusiast. He loves participating in sailboat races, flying planes, playing tennis, and playing the guitar. Ellison resides on the Hawaiian island of Lanai, which he purchased in 2012 for $300 million.
Oracle Shares Gain Momentum
This year, Oracle’s shares have gained a total of 45%. On September 10 alone, the stock surged by a historic 41% in a single trading session — the largest single-day increase in the company’s history.
This extraordinary jump was triggered by the release of strong quarterly results, showing the company’s better-than-expected performance. A large number of investors jumped to buy Oracle stock, driving prices up.
Larry Ellison’s Business Philosophy
Ellison firmly believes that continuous innovation in technology and a customer-centric strategy are key to any company’s success. His long-held vision has always emphasized using technology to improve and simplify the world.
Under his leadership, Oracle became a leader in cloud computing, database solutions, and enterprise software.
Global Business Impact
Larry Ellison’s influence goes far beyond personal wealth. His strategic thinking and technological innovations have reshaped the tech industry. Oracle’s cloud technologies have encouraged large corporations to shift toward cloud-based solutions.
Oracle’s investments in Artificial Intelligence (AI), Big Data Analytics, and Autonomous Databases have placed it among the global tech leaders.
Future Plans
Now that Larry Ellison holds the title of the world’s richest person, he remains focused on taking Oracle to the next level of technological advancement. His long-term goal is to make cloud technology even more powerful and secure.
Ellison aims to provide smarter, sustainable, and highly efficient solutions for businesses worldwide, focusing on enterprise-level cloud services
Larry Ellison’s achievement is not just a personal milestone but a testament to the power of vision, relentless hard work, and innovation in the tech industry. His success story shows how ambition and smart strategies can lead to unprecedented heights.
With his visionary leadership, Oracle is expected to continue shaping the future of technology and business. Ellison’s journey is a shining example of how leveraging technology can transform businesses and the global economy.
