Jakarta, Indonesia Sentinel — Larry Ellison, co-founder of Oracle, has climbed to become the world’s second-richest person, boasting a net worth of $212.2 billion, according to Forbes. On Friday, October 25, 2024, Ellison’s fortune surged past Amazon founder Jeff Bezos and Meta’s Mark Zuckerberg, solidifying his position among the wealthiest individuals globally.
Ellison’s net worth jumped by $3.3 billion this month as Oracle’s stock surged 22.5% following strong earnings and an optimistic annual forecast, according to CNBC Indonesia. This boost has placed Ellison ahead of Meta CEO Zuckerberg and luxury goods titan Bernard Arnault of LVMH.
Oracle’s recent success is largely driven by advancements in its cloud computing and artificial intelligence (AI) offerings. During a public presentation last week, Ellison shared Oracle’s ambitious plans to build portable cloud data centers designed to train and maintain large language models, underscoring Oracle’s commitment to AI growth.
With nearly 40% of Oracle shares under his ownership, Ellison also holds about 15 million shares in Tesla. This year, his net worth has surpassed that of Google co-founder Larry Page, Microsoft’s Bill Gates, and former Microsoft CEO Steve Ballmer.
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Oracle also announced a strategic partnership with Amazon Web Services (AWS), allowing AWS customers to use Oracle’s AI-powered applications within Amazon’s cloud ecosystem. This collaboration, according to Deutsche Bank analyst Brad Zelnick, completes Oracle’s “triple crown” of partnerships with major cloud providers, following similar agreements with Google and Microsoft.
Ellison, who serves as Oracle’s chairman and chief technology officer, co-founded the enterprise software company in 1977. A vocal industry figure, he previously served on Tesla’s board and is expected to take a controlling stake in Paramount, the parent company of CBS. Ellison is also a notable Republican Party donor, contributing millions to support various causes, including GOP presidential candidate Senator Tim Scott of South Carolina.
With Oracle’s growth in AI and cloud computing, Larry Ellison wealth and influence are likely to expand alongside the company’s ambitious technology ventures.
(Raidi/Agung)
