Larry Ellison Becomes World’s Fourth Richest Man: Sweet Victory Over Google

By the end of last Friday, the fortune of Larry Ellison – Chairman of Oracle Corporation – had increased to nearly 16 billion USD, helping him surpass the founders of Google and closely follow Microsoft’s Bill Gates in the list. richest people on the planet.

After releasing a better-than-expected business report on Thursday, Oracle’s stock price jumped 16%. According to Forbes data, Mr. Ellison – Oracle’s largest shareholder, currently holds 1.14 billion shares of the company with a total value equivalent to $ 135.7 billion.

In the past 20 years, this is the second strong increase in the share price of Oracle Corporation. This has brought a huge fortune to Ellison – the co-founder of the company. On the Forbes list of world billionaires, Ellison has now surpassed Google’s Larry Page ($126.3 billion) and Sergey Brin ($121.7 billion) to take fifth place. Meanwhile, Bill Gates is in 4th place with a total worth of 139.2 billion USD.

In recent years, while next-generation technology companies such as Google, Amazon and Facebook have been growing rapidly, Oracle has stalled with growth mostly in single digits. Therefore, Ellison’s quick phase brought a surprise to the market.

Currently, Oracle is showing signs of accelerating and the company’s recent operating path has been more reasonable, giving investors more confidence that the company’s move to the cloud is proving effective. .

For Ellison, his personal fortune surpassing that of the Google founders can be considered a sweet accomplishment. In April, the Supreme Court sided with Google against Oracle in a long-running copyright dispute between the two sides over a piece of software used in the Android mobile operating system. The case involved software code that Google used to build the Android operating system, and the case is considered a landmark dispute over the types of computer code that are protected under US copyright law.

In addition, Oracle is also catching up with Google in building cloud infrastructure – an area where Google is one of the leaders in terms of market share. In addition, after more than two decades working and becoming the president of product development at Oracle – Mr. Thomas Kurian left this company, officially joined Google and became the CEO of Google Clouds in 2016. 2018.

Currently, Mr. Ellison is 77 years old. Much of his wealth comes from stock ownership in Oracle. The net worth has grown to about $44 billion this year as the company’s stock price surged 59%. In addition, he also earned a large amount of money from placing his trust in Elon Musk’s company three years ago.

At the end of 2018, he bought $1 billion worth of Tesla stock, Ellison said. After three years, Tesla’s market capitalization has grown by nearly 1,300%, and Ellison’s stock in Tesla is now worth $16 billion. Despite the recent drop in price, Tesla’s stock price is up 44% this year.