Larry Ellison, co-founder of Oracle, has briefly surpassed Elon Musk to become the world’s richest person. His net worth climbed to $393 billion, edging past Musk’s $384 billion, according to Forbes. Oracle’s stock surged with the news, boosting Ellison’s fortune, though the value fluctuated throughout the day. While not as widely recognized as Musk, Ellison wields significant influence in Silicon Valley and politics. He is famous for his extravagant lifestyle, including mega-yachts, private jets, multiple marriages, and ownership of the Hawaiian island of Lanai.
Ellison, 81, made his fortune in software development starting in the 1970s. He co-founded Oracle after securing a two-year contract to build a database for the US Central Intelligence Agency. Oracle grew into a global tech giant, providing software for Fortune 500 companies and later expanding into cloud computing. The rise of artificial intelligence has further benefited Oracle through lucrative deals with firms like OpenAI, the creator of ChatGPT. “AI is a much bigger deal than the Industrial Revolution, electricity, and everything that’s come before,” Ellison said in an interview with former UK Prime Minister Tony Blair.
Ellison led Oracle as CEO for 37 years before moving to chief technology officer in 2014. He remains the board chairman and owns more than 40% of the company. In 2020, Oracle moved its headquarters from Silicon Valley to Austin, Texas. Ellison also served on Tesla’s board from 2018 to 2022 and retains a stake in Musk’s electric car company. He owns nearly half of the media conglomerate Paramount Skydance, led by his son David Ellison. The company controls CBS, MTV, and Paramount Pictures. His son has emphasized that the media group will avoid political bias, though he is considering hiring Bari Weiss to help lead CBS News.
Ellison has maintained a close relationship with former US President Donald Trump and the Republican party for over a decade. He frequently dined at Trump’s Mar-a-Lago resort and met the former president in the Oval Office. Oracle has also emerged as the lead buyer for TikTok amid regulatory pressure. Ellison is also connected to Israeli Prime Minister Benjamin Netanyahu. He has donated heavily to the Israeli military through Friends of the Israel Defense Forces, including a record $16.6 million donation in 2017. He has hosted Netanyahu and other prominent figures at his Lanai estate, which he purchased 98% of in 2012. Ellison has developed a luxury Four Seasons resort and a hydroponic farm on the island.
Musk and Ellison share both friendship and rivalry. Musk often visits Lanai and calls Ellison his mentor. Speaking on a podcast earlier this year, Musk described Ellison as “one of the smartest people” he has ever met. Their rivalry for the title of world’s richest person highlights Ellison’s remarkable influence and success across tech, business, and politics.
