The list of the world’s richest people continues to move. While Elon Musk has held the title of the world’s richest person in recent months, confusion has begun in the lower ranks. Accordingly, Amazon founder Jeff Bezos lost the second richest to Oracle founder Larry Ellison.
Oracle founder Larry Ellison surpassed Bezos to become the second richest person
Oracle shares gained more than 5 percent, doubling the fortune of company founder Larry Ellison. Accordingly, Ellison became the second richest person in the world, ahead of Amazon founder and former CEO Jeff Bezos. This rise came on the back of Oracle’s financial reports that exceeded expectations last week.
According to Forbes’ billionaire list, the increase in the value of Oracle shares added $8.1 billion to Ellison’s net worth. Accordingly, Ellison’s total wealth reached approximately 206 billion dollars. This means that he surpassed Bezos, who has a fortune of $ 203 billion.
Oracle shares have gained nearly 20 percent this month, one of their best performances in a decade. The company is benefiting from demand for cloud computing and artificial intelligence. In recent meetings, Ellison said Oracle will open data centers around the world to support artificial intelligence models.
Partnerships with cloud providers such as Amazon Web Services, Microsoft Azure and Google Cloud have also contributed to Oracle’s growth. Tesla and SpaceX CEO Elon Musk continues to top the list with a fortune of $ 251 billion.
It is not yet clear whether Ellison will be able to maintain his second place. However, the increases in the company’s stock show that Oracle has become a strong player in cloud infrastructure and artificial intelligence.
