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Oracle co-founder and CTO Larry Ellison’s net worth has been growing, placing him among the sky-high ranks of fellow billionaires Elon Musk, Jeff Bezos and Mark Zuckerberg.
His estimated net worth stood at $208 billion as of Friday evening, according to Forbes.
At that level of wealth, he was sandwiched between Musk, the richest with a net worth of $264 billion, and Mark Zuckerberg, the third-wealthiest at $206 billion, on the outlet’s real-time global wealth tracker.
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Bezos was not far off the Meta Platforms CEO, with Forbes estimating his fortune was worth $204.4 billion.
Ellison experienced a more than $33 billion surge in his net worth during September, the outlet reported Tuesday. Compared to early October of last year, it has reportedly increased by tens of billions of dollars.
His holding in Oracle is a major contributor to his net worth. It amounts to over 41% of the software company’s common stock, a recent filing with the Securities and Exchange Commission (SEC) indicated.
He has also invested in real estate over the years, including an extensive amount of land in Hawaii and property in a few states, according to reports.
Ellison, Bob Miner and Ed Oates created Oracle about 47 years ago.
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The stock price of the software company has posted a 63% increase year-to-date and a 59% jump over the past 12 months, something that has helped lift Ellison’s fortune.
In September, Oracle said it generated $13.3 billion in revenues and $2.9 billion in net income for the first quarter, year-over-year increases of 7% and 21%, respectively. CEO Safra Catz said at the time that the company was “very confident and committed to full year total revenue growth growing double digits and full year total cloud infrastructure revenue growing faster than last year” for the fiscal year.
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Informa Connect Academy recently forecasted Oracle’s market capitalization could climb to $1 trillion by 2030 if it continues on its current trajectory. It was $471.139 billion as of Friday.
Original article source: Oracle’s Larry Ellison is getting richer, rivaling Musk, Bezos, Zuckerberg
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