Larry Ellison has now become the world's richest person. Following a surge of over 40 percent in Oracle's shares on September 10 and after quarterly figures, his wealth reached $393 billion, surpassing Elon Musk. This record growth is considered the largest single-day increase in a billionaire's net worth.
World Richest Person: Larry Ellison has now reached this position for the first time. On September 10, after a more than 40 percent surge in the shares of US-based Oracle, his wealth climbed to $393 billion. 81-year-old Ellison, who is the co-founder and currently the Chairman and Chief Technology Officer of Oracle, moved to the top spot with this jump, overtaking Elon Musk. This surge led to an unprecedented increase of approximately $101 billion in his net worth.
Record Surge in Ellison's Wealth
Larry Ellison has now become the world's richest person. Following a more than 40 percent surge in his company Oracle's shares on September 10, his wealth experienced an unprecedented increase. 81-year-old Ellison, the co-founder and current Chairman and Chief Technology Officer of Oracle, reached this pinnacle for the first time due to this surge and overtook American billionaire Elon Musk. After the company's quarterly figures, Ellison's net worth increased by approximately $101 billion.
Wealth Increased Significantly in a Single Day for the First Time
After the share surge on September 10, Ellison's total net worth reached $393 billion, surpassing Elon Musk, who has a net worth of $385 billion. According to the Bloomberg Billionaires Index, this is the first time a billionaire's wealth has grown so rapidly in a single day. Musk first became the world's richest person in 2021 and returned to the top spot last year, but now after approximately 300 days, he has moved to the second position.
Success Story Began with $2,000
Born in 1944, Larry Ellison co-founded Oracle with just $2,000. He now holds a 41 percent stake in the company. After serving as CEO for 37 consecutive years, he resigned from the position in 2014. Ellison enjoys hobbies such as sailboat racing, flying planes, tennis, and playing the guitar. He currently resides on the Hawaiian island of Lanai, which he purchased in 2012 for $300 million.
Oracle's Shares Gained Momentum
Oracle's shares have seen a total increase of 45 percent this year, with a sharp surge of 41 percent recorded on September 10. This sudden rise led to a significant boost in the company's and Ellison's net worth. This is considered the largest single-day surge in Oracle's share history.
