Who is Larry Ellison? Former CEO of Oracle Surpasses Amazon’s Jeff Bezos

Former Oracle CEO Larry Ellison has surpassed Amazon founder Jeff Bezos to become the world’s second-richest person.

According to Forbes’ real-time rich list, shortly after the opening, Larry Ellison’s wealth fell from US$208.4 billion to US$197 billion, while Bezos ranked second on the world’s richest list with a net worth of US$204.8 billion.

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However, that soon changed, as Oracle shares rose 5% on Monday, allowing Ellison to surpass Bezos in wealth. According to Forbes’ Real-Time Billionaires List, Ellison’s net worth is $206 billion, while Bezos’ net worth is $204.8 billion.

But according to today’s data, Jeff Bezos has become the second richest person in the world, with a real-time net worth of $204.8 billion, while Larry Ellison has become the third richest person, with a real-time net worth of $203.5 billion.

Who is Larry Ellison?

Lawrence Joseph “Larry” Ellison was born in New York City on August 17, 1944, to an unmarried teenage mother. He contracted pneumonia when he was nine months old and was adopted by his aunt and uncle, who raised him on the South Side of Chicago.

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His upbringing was challenging; his adoptive father struggled financially, and Larry often clashed with him because of his independent streak.

educate

Ellison attended South Shore High School, where he excelled in math and science. He then attended the University of Illinois at Urbana-Champaign as a pre-med student, but dropped out during his sophomore year after his adoptive mother died. He briefly attended the University of Chicago, but dropped out after one semester.

Career Start

In 1966, at the age of 22, Ellison moved to California and began working as a programmer. He gained work experience at several technology companies, including Amdahl.

Co-founder of Oracle Corporation

In 1977, he and two partners founded Software Development Laboratories, inspired by Edgar F. Codd’s research on relational databases. The company was later renamed Oracle Corporation and, under Ellison’s leadership, came to dominate the database software market.

Current Status

Today, he is recognized as one of the richest people in the world, with a net worth of more than $146 billion.

Larry Ellison vs. Jeff Bezos: The Battle for Second Place

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Oracle co-founder and chairman Larry Ellison recently replaced Amazon founder Jeff Bezos as the world’s second-richest person. The shift in wealth rankings was driven by Oracle’s strong performance in the artificial intelligence (AI) market and the company’s impressive stock price surge.

According to Forbes’ real-time billionaire ranking, Ellison’s net worth has reached a staggering $206 billion as of September 2024. The surge in Ellison’s wealth was driven by Oracle’s 23% stock price increase in September, giving the company its most profitable month since October 2022.

The company’s involvement in the field of artificial intelligence, particularly its data centers built to meet the growing demand for generative AI technology, has contributed significantly to its success.

During Oracle’s most recent earnings call, Ellison discussed the company’s plans to build data centers, ranging from small, portable, and affordable facilities to 200-megawatt data centers that are ideal for training large language models and keeping them up to date. This strategic focus on AI has resonated with investors, driving up Oracle’s stock price and, therefore, Ellison’s net worth.

Jeff Bezos has been ranked second on the list of the richest people since 2016, with a current net worth of $204.8 billion, according to Forbes. Despite the setbacks, Bezos remains a formidable figure in the tech industry, with Amazon continuing to dominate the e-commerce market and expand into new areas such as cloud computing and artificial intelligence.

Source: https://dinhtienhoang.edu.vn
Category: Optical Illusion