New York, US (EFE).— Oracle co-founder Larry Ellison became the world’s richest person on Wednesday after a surge in the company’s stock boosted his net worth to 393 billion dollars, according to the Bloomberg Billionaires Index.
Ellison, 81, who serves as Oracle’s chairman and chief technology officer, saw his fortune jump by 101 billion dollars at 10:10 am in New York.
The gain followed the company’s announcement on Tuesday of several multibillion-dollar contracts awarded in its latest quarter.
The stock rally propelled Ellison ahead of Tesla and SpaceX CEO Elon Musk, 54, whose wealth was listed at 385 billion dollars. Musk had held the top spot on Bloomberg’s ranking for nearly a year.
However, Forbes’ real-time billionaires list gave a different ranking based on its own valuation approach.
As of Wednesday, Forbes continued to rank Musk as the wealthiest individual with 440 billion dollars, followed by Ellison with 406.3 billion dollars.
The two lists often diverge due to variations in methodology and the timing of asset valuations, particularly when stock prices fluctuate sharply.
Ellison co-founded Oracle in 1977, building it into one of the world’s largest technology companies specializing in cloud computing and enterprise software.
His wealth has grown significantly in recent years as Oracle expanded its cloud services and won large government and corporate contracts.
The billionaire, who also owns properties in Hawaii, California, and Nevada, has increasingly been at the center of wealth rankings as technology stocks have surged. EFE
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