Billionaire Larry Ellison, 81, is now the richest person in the world with a fortune of $393 billion, surpassing Elon Musk, who owns $385 billion. According to Bloomberg Billionaires Index, Oracle shares - where Mr. Ellison is the largest individual shareholder - have just had their strongest increase since 1992, bringing his fortune to an additional 100 billion USD in just one day.
Mr. Ellison's journey began in 1977, when he co-founded Software Development Laboratories in California with Bob Miner and Ed Oates. The company was hired by the CIA to build a database program called Oracle. In 1982, the company changed its name to Oracle and listed it in 1986. Over many stages, Oracle has become a global technology pillar, especially in the context of increasing demand for data infrastructure for AI.
Mr. Ellison held many leadership positions, from chairman to CEO, before leaving the CEO position in 2014. He is currently the chairman of the board and technology director of Oracle. Recently, the company announced that it has signed four contracts worth billions of USD and is expected to have many more large contracts in the coming time, contributing to the sharp increase in stock prices.
Not only a businessman, Mr. Ellison is also famous for his passion for sports and luxurious lifestyle. In 2012, he bought 98% of Lana'i Island in Hawaii. He also sponsored the Oracle Team USA to win the 2013 America's Cup and co-founded the SailGP boat racing in 2018, attracting famous investors such as actress Anne Hathaway and player Kylian Mbappe. In the field of tennis, he contributed to the revival of the Indian Wells tournament, known as the "5th Grand Slam".
Politically, Ellison is a major sponsor of candidates and conservative organizations. He has backed Republican Sen. Tim Scott with a $15 million grant and has a close relationship with President Donald Trump. He also committed to contributing to medical research, including $200 million for the University of Southern California to establish a cancer research center.
In 2010, he participated in the Giving Pledge program initiated by Bill Gates, committing to donating at least 95% of his assets to charity. He recently revised the commitment, transferring part of it to the Ellison Institute of Technology in partnership with Oxford University, to develop sustainable healthcare, agricultural and energy solutions.
The spectacular rise of Mr. Larry Ellison not only shows the power of Oracle in the AI era but also depicts the portrait of one of the most influential figures in the global technology world.
