Oracle co-founder and chief technology officer (CTO) Larry Ellison's net worth is increasing, making him one of the highest among billionaires such as Elon Musk, Jeff Bezos, and Mark Zuckerberg. in a high position. (Credit: Getty Images)
Oracle co-founder and chief technology officer (CTO) Larry Ellison's net worth is increasing, making him one of the highest among billionaires such as Elon Musk, Jeff Bezos, and Mark Zuckerberg. in a high position.
As of Friday night, his estimated net worth was $208 billion, according to Forbes magazine.
At this level of wealth, the outlet's real-time global wealth tracker puts him wedged between Musk, the richest man with a net worth of $264 billion, and Mark Zuckerberg, the third richest man with a net worth of $206 billion.
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Bezos is nowhere near the CEO of Metaplatform, with Forbes magazine estimating his wealth to be worth $204.4 billion.
Oracle Chief Technology Officer Larry Ellison delivered the keynote address at the 2019 Oracle OpenWorld in San Francisco, California on September 16, 2019. (Justin Sullivan/Getty Images/Getty Images)
The outlet reported on Tuesday that Ellison's net worth soared by more than $33 billion during September. This is an increase of tens of billions of dollars compared to early October last year.
His holdings in Oracle stock contribute significantly to his net worth. This represents more than 41% of the software company's common stock, according to recent filings with the Securities and Exchange Commission (SEC).
File photo: Oracle Chairman of the Board and Chief Technology Officer Larry Ellison gestures during a keynote speech at Oracle OpenWorld on September 30, 2014 in San Francisco, California. (Reuters/Robert Galbraith/Reuters Photo)
He has also invested in real estate over the years, including large tracts of land in Hawaii and properties in several states, according to reports.
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| ORCL | Oracle Corporation | 170.79 | +3.87 |
+2.32% |
Ellison, Bob Miner, and Ed Oates founded Oracle nearly 47 years ago.
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The software company's shares have risen 63% since the beginning of the year and 59% in the past 12 months, helping to boost Ellison's fortune.
A sign is posted on a building at the Oracle Corp. corporate campus on Monday, March 14, 2016, in Redwood City, California. (Michael Short/Bloomberg via Getty Images/Getty Images)
In September, Oracle announced first-quarter revenue of $13.3 billion and net income of $2.9 billion, up 7% and 21%, respectively, from the same period last year. CEO Safra Catz said at the time that the company was “very confident that full-year total revenue will grow by double digits and that full-year total cloud infrastructure revenue will grow at a faster pace than the prior year.” “We are committed to this,” he said.
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Informa Connect Academy recently predicted that Oracle's market cap could reach $1 trillion by 2030 if it continues on its current trajectory. As of Friday, it was $471.139 billion.
