Larry Ellison, co-founder of Oracle, has briefly overtaken Elon Musk as the world’s richest person. His net worth reached $393 billion, surpassing Musk’s $384 billion, according to Forbes. Oracle’s stock surged on the news, boosting Ellison’s fortune, though the value fluctuated throughout the day. While less known than Musk, Ellison has huge influence in Silicon Valley and politics. He is known for his lavish lifestyle, including mega-yachts, private jets, multiple marriages, and ownership of the Hawaiian island of Lanai.
Ellison, 81, built his fortune in software development starting in the 1970s. He co-founded Oracle after winning a two-year contract to build a database for the US Central Intelligence Agency. Oracle grew into a global tech giant, providing software to Fortune 500 companies and later expanding into cloud computing. The rise of artificial intelligence has helped Oracle secure profitable deals with companies 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 was CEO of Oracle for 37 years before becoming chief technology officer in 2014. He still leads the board and owns more than 40% of the company. Oracle moved its headquarters from Silicon Valley to Austin, Texas, in 2020. 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, run by his son David Ellison. The company oversees CBS, MTV, and Paramount Pictures. David Ellison has said the media group will remain non-partisan, though he is considering hiring Bari Weiss to help lead CBS News.
Ellison has long ties to former US President Donald Trump and the Republican party. He frequently dined at Trump’s Mar-a-Lago resort and met him in the Oval Office. Oracle has emerged as the lead buyer of TikTok amid regulatory pressure. Ellison is also close 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 high-profile guests 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 friendship and rivalry. Musk often visits Lanai and calls Ellison his mentor. Earlier this year, Musk described Ellison as “one of the smartest people” he has ever met. Their competition for the title of world’s richest person highlights Ellison’s immense influence and success across technology, business, and politics.
