Larry Ellison Surpasses Jeff Bezos to Claim Third-Richest Person Spot

Renowned tech industry figure and Oracle co-founder Larry Ellison has seized the position of the world's third-richest person, outpacing rival Jeff Bezos, according to Forbes' latest rankings. Ellison's software company, Oracle, experienced a surge in share prices, propelling his net worth to $152 billion and overshadowing Bezos' $149 billion fortune.

This marks the first time that Ellison has secured the prestigious rank of the third-wealthiest individual worldwide, with the exception of a brief period on Tuesday. Over the past two months, Ellison has witnessed a staggering $45 billion increase in his wealth, courtesy of a remarkable 45% surge in Oracle's stock, largely driven by the artificial intelligence frenzy. Ellison confidently declared Oracle as the leading provider of generative AI software earlier this week.

Currently, Ellison trails behind only Tesla CEO Elon Musk, who holds the top spot with a net worth of $235 billion, and LVMH chairman Bernard Arnault, who stands at $225 billion.

Ellison's journey to billionaire status began in 1993 when Forbes first estimated his net worth at $1.6 billion. With 46 years since the inception of Oracle, Ellison played a pivotal role as CEO for 37 years until 2017, transforming the company into one of the most valuable tech enterprises worldwide. He remains Oracle's largest shareholder and chairman of its board. Alongside his Oracle stake, Ellison possesses a real estate portfolio valued at over $1 billion, which includes a notable island in Hawaii acquired for $300 million in 2012.

In recognition of Ellison's exceptional engineering abilities, Tesla's Elon Musk described him as "one of the best engineers" he has encountered, praising his swift comprehension even outside the realm of software.

Furthermore, Ellison's significant contributions to Republican causes in last year's midterm elections, surpassing $20 million in donations, garnered attention. He notably supported a super PAC associated with Senator Tim Scott (R-S.C.), and Ellison's presence at Scott's recent presidential campaign launch led to reciprocal admiration, with Scott referring to Ellison as one of his mentors.

Source: Forbes

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