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Oracle cofounder tops Bloomberg’s Billionaires Index with a $393B fortune, built on tech, AI, and a life as bold as his business bets
From building Oracle to buying an island, sailing triumphs, political ties, and philanthropy, Ellison’s journey to $393 billion has been anything but ordinary.
Larry Ellison is having the best Wednesday of anyone on the planet. The 81-year-old Oracle cofounder has officially become the world’s richest person, according to the Bloomberg Billionaires Index, after his fortune surged by $100 billion in a single day. Ellison’s wealth now stands at an astonishing $393 billion, dethroning Elon Musk, who trails behind at $385 billion.
The monumental jump comes as Oracle shares enjoyed their biggest single-day gain since 1992, buoyed by strong demand for data center capacity from artificial intelligence customers. The company recently signed four multibillion-dollar contracts, with more expected in the coming months, catapulting Ellison’s personal wealth to record levels.
Ellison’s story begins in 1977, when he co-founded Software Development Laboratories in Santa Clara, California, with Bob Miner and Ed Oates. The company’s first big break came when the CIA hired them to build a database program code-named “Oracle.” By 1982, the firm had adopted that name permanently and went public in 1986.
Over the decades, Oracle became a pillar of enterprise technology. Ellison served as president from 1978 to 1996, chairman at various times, and CEO until stepping down in 2014. Today, he remains Oracle’s executive chairman and chief technology officer, positions that keep him deeply involved in steering the company’s technological future.
Ellison’s wealth has long fueled his passions. In 2012, he purchased 98% of Lana’i, Hawaii’s sixth-largest island, which has since become both a retreat and a development project. He’s also a lifelong sailor. In 2013, Oracle Team USA staged one of the greatest comebacks in sports history, winning the America’s Cup under Ellison’s backing. Though the team dissolved in 2017, Ellison later cofounded SailGP, a global racing league now backed by celebrities including actress Anne Hathaway and soccer star Kylian Mbappé.
Ellison is equally influential in tennis, having revitalized the Indian Wells tournament in California, often dubbed the sport’s “fifth slam.” The event is now as famous for its high-level competition as it is for its Nobu restaurant overlooking the courts.
Ellison’s influence extends into politics. He has donated millions to Republican candidates and causes, including $15 million in 2022 to support Senator Tim Scott’s presidential run, as well as contributions to Marco Rubio in 2015. He maintains close ties with former President Donald Trump and was recently seen alongside Trump, OpenAI CEO Sam Altman, and SoftBank CEO Masayoshi Son at the White House for the announcement of a new AI infrastructure company.
Philanthropy also plays a role in Ellison’s life. In 2016, he donated $200 million to the University of Southern California to establish a cancer research and treatment center. Through the Ellison Institute of Technology, he has pledged to focus on projects addressing healthcare, climate change, food security, and renewable energy.
Though he signed Bill Gates’ Giving Pledge in 2010, committing to give away at least 95% of his wealth, Ellison has since adjusted his approach, directing more of his fortune toward his own initiatives. True to his independent streak, he has preferred charting his own philanthropic path rather than aligning with Gates’ causes.
Larry Ellison’s rise to the top of the world’s wealth rankings reflects both his business acumen and his ability to reinvent himself alongside the tech industry. From pioneering databases for the CIA to betting big on cloud and AI infrastructure, Ellison has consistently stayed ahead of the curve.
At 81, with $393 billion to his name, his influence stretches from Silicon Valley boardrooms to Hawaiian islands, global sailing waters, and the highest levels of politics. And as Oracle continues to ride the AI wave, Ellison’s fortune — and his imprint on the tech world — may only grow larger.
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