Larry Ellison, Oracle’s co-founder, has briefly overtaken Elon Musk to become the world’s richest person. His net worth rose to $393 billion, surpassing Musk’s $384 billion, according to Forbes. Oracle’s stock surged with the news, boosting Ellison’s fortune, though it fluctuated during the day. Less known to the public than Musk, Ellison holds immense influence in Silicon Valley and politics. He is famous for his extravagant lifestyle, including mega-yachts, private jets, multiple marriages, and ownership of nearly the entire Hawaiian island of Lanai.
Ellison, 81, began building his fortune in the 1970s through software development. 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 leader, providing software to Fortune 500 companies and later expanding into cloud computing. The rise of artificial intelligence has further boosted Oracle through profitable partnerships 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 told former UK Prime Minister Tony Blair.
Ellison served as Oracle’s CEO for 37 years before becoming chief technology officer in 2014. He remains board chairman and owns over 40% of the company. Oracle relocated 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, managed by his son David Ellison. The company controls CBS, MTV, and Paramount Pictures. David Ellison says the media group will remain non-partisan, though he is considering hiring Bari Weiss to help lead CBS News.
Ellison has long-standing ties to former US President Donald Trump and the Republican party. He has dined frequently at Trump’s Mar-a-Lago resort and met him in the Oval Office. Oracle has also emerged as the lead buyer of TikTok amid regulatory scrutiny. Ellison is close to Israeli Prime Minister Benjamin Netanyahu and 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, developing 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. Earlier this year, Musk described Ellison as “one of the smartest people” he has ever met. Their competition for the world’s richest person highlights Ellison’s extraordinary success and influence across technology, business, and politics.
