Larry Ellison Surpasses Zuckerberg and Arnault to Claim Spot as World’s Third Richest Person.. Unveiling Wealth Secrets
On September 17, 2024, Oracle co-founder Larry Ellison became the world’s third richest person. His net worth reached $203.9 billion, surpassing Mark Zuckerberg and Bernard Arnault. Earlier that day, he briefly overtook Jeff Bezos before settling back to third place.
Ellison’s wealth has surged over the past two years, increasing by more than 125%. He owns nearly 40% of Oracle and significant shares in Tesla, contributing to his impressive financial growth.
Key takeaways:
- Larry Ellison is now the third richest person globally.
- His net worth is $203.9 billion, surpassing Zuckerberg and Arnault.
- Ellison’s wealth has increased by over 125% in two years.
- He owns nearly 40% of Oracle and shares in Tesla.
Larry Ellison’s Wealth Surge: A Closer Look at His Financial Growth
Ellison’s financial journey has been remarkable. Starting the year as the eighth richest person, he has climbed the ranks swiftly. His net worth jumped from about $80 billion in October 2022 to $203.9 billion in September 2024. This growth is attributed to the success of Oracle and his investments in Tesla.
Oracle’s Success and Ellison’s Vision for AI and Cloud Computing
Oracle’s recent performance has been impressive. The company’s shares rose by 22.5% this month, following strong earnings reports and an optimistic annual outlook. Ellison emphasized the importance of adapting to the growing demand for artificial intelligence.
Ellison’s Strategic Investments: Oracle and Tesla
Ellison’s investments have played a crucial role in his wealth accumulation. His ownership of Oracle and shares in Tesla has positioned him well in the technology sector. Key points include:
- Nearly 40% ownership in Oracle.
- 15 million shares of Tesla, acquired before joining the board.
- Focus on cloud applications and AI development.
- Recent partnerships with major tech companies like Amazon, Microsoft, and Google.
In conclusion, Larry Ellison’s rise to the third richest person in the world is a testament to his strategic investments and the success of Oracle. As the tech industry continues to grow, Ellison’s vision for AI and cloud computing positions him for further success.
