Oracle co-founder Larry Ellison on Tuesday became the world's third-richest person with a net worth of $203.9 billion, surpassing Mark Zuckerberg and Bernard Arnault, according to Forbes magazine.
Earlier on Tuesday, Ellison briefly surpassed Amazon's Jeff Bezos before dropping back down to third place.
According to Forbes, Bezos has a net worth of $206.4 billion, and has held the number two spot on the list at various times since 2016.
Ellison started the year as the eighth-richest person in the world, according to the Bloomberg Billionaires Index.
His net worth has soared more than 125% in just over two years, from about $80 billion in mid-October 2022 to $181 billion as of Monday's closing price, according to Business Insider.
His net worth rose to $22.9 billion on Tuesday, from Monday's closing price of $181 billion, according to Forbes magazine.
The 80-year-old billionaire owns about 40% of Oracle, the software company he founded in 1977 and served as CEO for nearly four decades.
He also owns about 15 million shares of Tesla stock, which he purchased before joining the company's board of directors in 2018, according to Forbes. He continued to hold those shares after he left the board in 2022.
So far this year, Mr Ellison has amassed wealth that makes him wealthier than Google's Larry Page, Microsoft's Bill Gates, Microsoft's Steve Ballmer and now LVMH's Mr Arnault and Meta's Mr Zuckerberg.
According to Forbes magazine, the only other billionaires bigger than Ellison are Bezos and Tesla founder Elon Musk, the world's richest person with a net worth of $255 billion.
Oracle shares have risen 7.9% over the past five days after the company raised its full-year outlook and reported better-than-expected profits last week.
The stock is up a whopping 22.5% this month.
Oracle has seen success with its adoption of cloud applications and artificial intelligence.
During the company's earnings call last week, Ellison said Oracle is building out its data centers to meet growing demand for AI.
“We're literally building everything from the smallest, most portable, most affordable cloud data centers to 200-megawatt data centers that are perfect for training very large language models and keeping them up to date,” Ellison said on the conference call.
Oracle announced a partnership with Amazon's cloud-computing unit last week, after revealing similar deals with Microsoft and Google.
