Oracle’s Larry Ellison is getting richer, rivaling Musk, Bezos, Zuckerberg

Oracle co-founder and CTO Larry Ellison’s net worth has soared, placing him in the soaring ranks of fellow billionaires Elon Musk, Jeff Bezos and Mark Zuckerberg.

His estimated net worth was $208 billion as of Friday night, according to Forbes.

At that wealth level, he was sandwiched between Musk, the richest, with a net worth of $264 billion, and Mark Zuckerberg, the third-richest, with $206 billion, on the wealth tracker real-time global store assets.

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Bezos was not far from the CEO of Meta Platforms, Forbes estimating that his wealth is worth 204.4 billion dollars.

Ellison saw his net worth increase by more than $33 billion during the month of September, the publication reported Tuesday. Compared to early October last year, it appears to have increased by tens of billions of dollars.

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His holding in Oracle is a major contributor to his net worth. It represents more than 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 a large amount of land in Hawaii and properties in several states, according to reports.

Ellison, Bob Miner and Ed Oates created Oracle about 47 years ago.

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The software company’s share price is up 63% year-to-date and up 59% over the past 12 months, which has helped boost Ellison’s fortune.

In September, Oracle said it generated $13.3 billion in revenue and $2.9 billion in net income for the first quarter, year-over-year increases of 7 percent and 21 percent, respectively. CEO Safra Catz said at the time that the company was “highly confident and committed to double-digit full-year total revenue growth and full-year total cloud infrastructure revenue growth faster than last year” for the fiscal year.

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Informa Connect Academy recently estimated that Oracle’s market capitalization could reach $1 trillion by 2030 if it continues on its current trajectory. It was $471.139 billion as of Friday.

Source of the original article: Oracle’s Larry Ellison is getting richer, rivaling Musk, Bezos, Zuckerberg