Meet Larry Ellison, 81-yr-old billionaire who overtook Musk as world’s richest man

Larry Ellison has overtaken Elon Musk to go the world’s richest man, pursuing a record-breaking surge successful his fortune.

The 81-year-old Oracle co-founder saw his nett worthy balloon by an unprecedented $101 cardinal successful a azygous day, aft Oracle’s banal terms soared astir 40% connected stronger-than-expected net and an optimistic maturation outlook.

According to the Bloomberg Billionaires Index, Ellison’s wealthiness present stands astatine $393 billion, edging retired Musk’s $385 billion.

Who is Larry Ellison?

Larry Ellison co-founded Oracle successful 1977 alongside Bob Miner and Ed Oates, gathering it into 1 of the world’s astir almighty bundle companies. He served arsenic CEO until 2014 but remains its largest shareholder, holding astir 41% of Oracle’s stock—a involvement worthy implicit a trillion dollars astatine existent valuations.

A assemblage dropout who moved to California successful the 1960s, Ellison is known for his lavish lifestyle. He owns an land successful Hawaii, collects yachts and watches, and has invested successful Tesla, Salesforce, and adjacent served connected Apple’s committee astatine 1 time. His son, David Ellison, is acceptable to instrumentality implicit Paramount aft its merger with Skydance Media.

Larry Ellison is besides a philanthropist, having signed the Giving Pledge successful 2010 to donate 95% of his wealthiness during his lifetime. In 2016, helium contributed $200 cardinal to the University of Southern California to money a crab attraction center.

How Ellison Overtook Musk

Before Oracle’s banal rally, Musk maintained a comfy pb with a nett worthy of $384 billion. But the crisp emergence successful Oracle’s shares—up astir 40% arsenic of Wednesday morning—catapulted Ellison ahead.

With astir 1.16 cardinal shares successful Oracle, Ellison’s luck surged to $393 cardinal by precocious greeting successful New York, securing his spot astatine the precise apical of the planetary wealthiness rankings.

For the archetypal time, the crown of world’s richest antheral rests with Larry Ellison.

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The station Meet Larry Ellison, 81-yr-old billionaire who overtook Musk arsenic world’s richest man appeared archetypal connected Vanguard News.