Larry Ellison is now the second richest person in the world: Who is he and how much is he worth?

Forbes’ list of the world’s richest individuals frequently features owners of the most prominent global companies. Like Elon Musk (X, formerly Twitter, Tesla and SpaceX) or Jeff Bezos (Amazon). But recently a venerable name among the richest people on the planet has risen the ranking to second place in this elite group: Founder: Larry Ellison SeerA company specializing in both cloud and on-premises technology solutions.

Rapid rise from fifth to second

At the beginning of September, Ellison was ranked fifth among the world’s richest individuals. But Oracle’s stock price rose, pushing it to the top. On September 10, Oracle reached an all-time high in its stock price. Ellison’s net worth has reached an eye-watering $202.8 billion.

Ellison’s early days

Born in the Bronx, New York, Ellison faced health problems from a young age, leading him to move to Chicago and live with his aunt, who eventually adopted him. Accordingly Vanity Fair, Ellison attended both the University of Illinois and the University of Chicago but left both before completing his degrees.

Later, Ellison moved to California, where he began his career as a computer programmer. He founded Software Development Laboratories with two partners in 1977. After a series of name changes, the company became Oracle Systems Corp in 1982. As the computer industry grows, Oracle emerged as one of the key players.

More than 40 years of experience

Oracle’s path to success was not without its challenges. In 1990, the company lost $36 million in one month. Ellison managed to get through the tough times. After nearly four decades as CEO, Ellison resigned in 2014 and moved into the roles of president and chief technology officer while retaining less than half of the company. Ellison also served on Tesla’s board of directors from 2018 to 2022.

Oracle’s Legacy and Impact

Founded in 1977 Oracle, as it was eventually called, quickly became a leader in the database management industry. Oracle, known for its cutting-edge relational database software, has expanded its offerings includes cloud infrastructure, enterprise software and customer experience tools. Its flagship product, Oracle Database, has revolutionized the way businesses manage data, making it easier to store, retrieve and process large volumes of information. Over the decades, Oracle has expanded its portfolio through acquisitions of major companies such as Sun Microsystems and its current focus is on cloud solutions with Oracle Cloud Infrastructure (OCI) and Oracle Fusion Applications.

The company’s impact spans many industries, from finance and healthcare to retail and government, and its software helps businesses streamline operations, increase efficiency, and foster innovation. Larry Ellison’s vision made Oracle a The dominant force in both cloud computing and enterprise software is shaping the future of digital transformation globally.

Ellison’s children

Ellison’s children also acquired significant fortunes. Son David Ellison owns Skydance Mediaa film production company and recently struck a deal with Paramount to form New Paramount, where he will serve as CEO. Meanwhile her daughter Megan Ellison is a producer for Annapurna PicturesA production company known for its critically acclaimed films, including many Oscar nominations.