Larry Ellison, cofounder of Oracle, has officially become the world’s richest person, according to the Bloomberg Billionaires Index. On Wednesday alone, his wealth surged by a jaw-dropping $100 billion, pushing his net worth to $393 billion and dethroning Musk, who now trails behind at $385 billion.
At 81 years old, Ellison isn’t slowing down. Oracle’s stock just had its biggest single-day rally since 1992, making him the ultimate winner of the week. But who exactly is Larry Ellison, and how did he rise to the top of the billionaire rankings?
From CIA Contract to Tech Giant
Ellison’s journey began back in 1977, when he, Bob Miner, and Ed Oates founded Software Development Laboratories in Santa Clara, California. Their big break came from a contract with the CIA to build a database program called “Oracle.”
By 1982, the company adopted the name Oracle and went public in 1986. Over the decades, Oracle weathered ups and downs but is now riding high thanks to massive demand for AI data centers.
A Life at the Helm of Oracle
Ellison has worn many hats at Oracle:
- President (1978–1996)
- Chairman (two separate stints, including the early ‘90s)
- CEO until 2014, before stepping down to become executive chairman and chief technology officer — positions he still holds.
Oracle’s momentum isn’t slowing. Just this week, the company revealed it signed four multi-billion-dollar contracts in a single quarter, with more expected soon.
More Than Just Business: Islands, Yachts & Tennis Courts
Ellison is not your average billionaire.
- In 2012, he bought 98% of Lana’i, Hawaii’s sixth-largest island, once famous as the wedding spot for Bill and Melinda Gates.
- He’s a passionate sailor, backing Oracle Team USA to a legendary comeback win at the 2013 America’s Cup before later founding SailGP, a high-speed global racing league. Stars like Anne Hathaway and soccer star Kylian Mbappé have already joined in as investors.
- A tennis lover, he revived the Indian Wells tournament in California, earning it the nickname “the fifth slam.” The venue even boasts its own Nobu restaurant overlooking the courts.
Politics and Power
Ellison is also a major player in politics. Over the years, he’s donated millions to Republican candidates and causes, including $15 million in 2022 to support Senator Tim Scott’s presidential bid. He has also supported Marco Rubio and maintains close ties with Donald Trump, recently appearing alongside him at the White House for an AI infrastructure announcement.
Big on Philanthropy — With a Twist
Ellison has given back in significant ways. In 2016, he donated $200 million to the University of Southern California to establish a cancer research and treatment center.
He also signed The Giving Pledge in 2010, promising to give away at least 95% of his fortune. But more recently, he’s shifted focus, directing huge sums toward the Ellison Institute of Technology, which works on global challenges like healthcare, hunger, and clean energy.
While Bill Gates and Warren Buffett may have influenced others in philanthropy, Ellison has charted his own path — often preferring independence over following the crowd.
The Bottom Line
Larry Ellison’s story is one of ambition, bold bets, and a taste for both high tech and high seas. From a CIA database project to a $393 billion fortune, he has not only surpassed Elon Musk but also cemented himself as one of the most fascinating figures in modern business.
And with Oracle’s AI boom just getting started, this might only be the beginning of Ellison’s reign at the very top.
