Oracle’s co-founder Larry Ellison has finished second to surpass Facebook’s Mark Zuckerberg.
There has been a big upset in the list of world’s richest people. Mark Zuckerberg, the boss of Meta platforms, has now rolled on the third position in this list, while Oracle’s co-founder Larry Ellison has taken a long jump and took second place. According to the latest data from the Bloomberg Billionaires Index, Alison’s total assets have reached $ 251 billion. Zuckerberg’s net worth is almost the same, but in the after -decimal calculation, Alison defeated him. On Tuesday, where the assets of Alison increased by $ 4.71 billion, Zuckerberg’s net worth fell down $ 3.59 billion.
Mask still occupied the top
The world’s largest rich chair still holds Tesla and SpaceX owner Alan Musk. His net worth is $ 357.8 billion, which puts him at the forefront of this race. But in the second battle, Larry Alison overtook Zuckerberg. The recent bounce in Oracle’s shares brought Ellison to this point. The increasing interest of investors in Artificial Intelligence (AI) Stocks has given tremendous advantage to Oracle. Especially since the arrival of Chatgpt, the price of Oracle shares has almost three times. In the last three months, these stocks saw a rise of more than 90%.
Networth of $ 59 billion increased in a year
The big reason for this speed of Oracle is the jump in the company’s shares. Recently, the US government allowed companies making chips like NVIDIA and Advanced Micro Devices to export some semiconductor to China. After this news, Oracle’s shares increased by 5.7%, which directly benefited Larry Elison’s net worth. More than 80% of his property comes from Oracle’s stocks and options. This year, his net worth increased by $ 59 billion, while Zuckerberg’s wealth increased by $ 43.3 billion.
Oracle is planning to create data centers
Oracle has achieved billions of dollars of contracts in the field of cloud computing in recent months. The company is also working vigorously on creating data centers, which will give service to companies like Openai. In the last quarter, Oracle’s earnings were much higher than expectations. The CEO of the company claims that the company will perform better in the financial year 2026. ORACLE has also partnered with many big companies, which brought its shares to more highs.
Announcement to donate a large part of the property
Larry Alison has announced to donate a large part of his property. He will give most of his wealth to Alison Institute of Technology. The institute was established in 2023 in collaboration with Oxford University. It works on new innovation in areas like health, agriculture, clean energy and artificial intelligence.