Larry Ellison, the chairman of Oracle, has surpassed Jeff Bezos, the founder of Amazon, to become the world’s second-richest person. This change comes after Ellison’s net worth surged by $26 billion following Oracle’s strong quarterly earnings report, bringing his total wealth to $243 billion. This amount exceeds Bezos’ $227 billion and Meta CEO Mark Zuckerberg’s $239 billion. Elon Musk remains the wealthiest individual with a total worth of $407.3 billion.
Key Details of the Wealth Shift
Ellison’s fortune increased dramatically after Oracle announced better-than-expected revenue and profit for the quarter ending in May. The company’s stock price soared past $200 for the first time, contributing to Ellison’s significant gain. This $26 billion increase in a single day is noted as one of the largest single-day gains by any billionaire.
Bezos had held the position of the world’s second-richest person since 2017, when his net worth jumped to $75.6 billion following a rise in Amazon’s stock. He briefly lost the title to Meta CEO Mark Zuckerberg in October 2024 but regained it. However, Ellison’s recent wealth surge has now pushed him to the second spot.
The article also mentions that Elon Musk’s net worth saw a notable increase of $191 million, reaching $411.4 billion. This change came after Musk publicly apologized for his critical social media posts directed at former President Donald Trump, signaling a potential reconciliation.
Market and Economic Context
The wealth fluctuations among these tech giants reflect the dynamic nature of the global economy and the tech industry. Oracle’s strong earnings and the subsequent surge in Ellison’s net worth highlight the impact of corporate performance on individual wealth.
As the world’s richest individuals continue to see fluctuations in their net worth, the global economic landscape remains a critical factor in these changes. The ongoing shifts in wealth rankings among Musk, Ellison, Bezos, and Zuckerberg underscore the volatile nature of wealth in the tech industry.
