The day began with an unexpected twist, as software titan Oracle surged in the stock market, momentarily propelling its co-founder and chairman Larry Ellison into an elite position. On Friday, Ellison stood as the second-richest person in the world, ahead of even Amazon’s Jeff Bezos. But what could cause such a meteoric rise?
Ellison’s net worth catapulted by Rs 92275 crore early in the day, hitting a high of Rs1748229 crore. This monumental leap pushed him ahead of Bezos, whose wealth stood at Rs 1728095 crore, and placed him just behind his close friend, Tesla’s Elon Musk, whose fortune sits at Rs 2122131 crore. Oracle’s shares spiked by 7.8%, marking an all-time high for the company, and investors began taking notice.
However, as the day wore on, Ellison’s new title was short-lived. The market cooled, Oracle’s stock gains dwindled to around 2%, and Ellison’s net worth dipped back to Rs 1694349 crore. Bezos quickly reclaimed his second-place position.
Ellison’s wealth increase stemmed from Oracle’s recent financial optimism. Following a promising earnings report earlier in the week and an ambitious sales target for the future, Oracle projected its revenue to soar to Rs 872338 crore by 2029. The company's strong financial outlook drove investor confidence, contributing to Ellison’s brief wealth surge.
Though Ellison’s time as the world’s second-richest was fleeting, it highlighted the volatility of billionaire rankings and the power of a single stock rally to reshape fortunes. For now, he remains comfortably in the top tier of the world’s wealthiest, his sights set firmly on the future of Oracle’s growing empire.
Ellison left the University of Illinois after the death of his adoptive mother and briefly attended the University of Chicago. It was at Chicago where he first discovered computer design, igniting a passion that eventually led him to establish Oracle in 1977. Today, Oracle stands as one of the world’s largest software giants, with Ellison serving as its chief technology officer and executive chairman. The company’s market capitalization currently sits at Rs 3772059 crore.
