Oracle co-founder Larry Ellison. Image Credit: Times of India
(The Post News) – With a one-day $101 billion surge to his $292 billion fortune, Oracle cofounder Larry Ellison is now officially the richest person in the world. Ellison’s net worth now sits at $393 billion, surpassing Elon Musk’s $385 billion, following Oracle’s record-breaking stock earnings report on Tuesday.
Who is Larry Ellison?
The 81-year-old is a New York-born American businessman who dropped out of the University of Illinois and the University of Chicago. He co-founded Oracle Corporation with Bob Miner and Ed Oates after working on a CIA database program code-named “Oracle.”
Ellison started as president during the company’s early years, gradually ascending through various leadership roles until becoming the current executive chairman of the board and chief technology officer, accumulating more shares through stock buybacks. According to Forbes, he held just 22% of Oracle shares in 2010, but now he owns a massive 41%.
Since 1977, the Oracle leader has led the software company, watching it develop into one of the most in-demand cloud infrastructure businesses and data centres for artificial intelligence customers. These same services contributed to the company’s shares rising by 38% Wednesday morning from Tuesday’s closing market.
Ellison’s close relationship with President Trump allowed Oracle to lead alongside OpenAI and SoftBank in AI infrastructure projects, such as the Stargate project. In January, he appeared alongside Trump and other tech leaders at the White House as the president outlined a massive artificial intelligence infrastructure initiative. Oracle competes with Microsoft, Amazon, and Google in this sector.
Politically, Ellison is often assumed to lean Republican due to his alliance with Trump and his numerous donations to conservative groups. However, he has also contributed to Democratic causes, including supporting Joe Biden’s 2024 reelection campaign.
CNN reports that Ellison, originally committed through the 2010 Giving Pledge to donate 95% of his fortune to charity after his passing, is currently deciding to redirect some of that wealth toward a technical institute he founded at the University of Oxford.
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