Here’s who could be the next world’s richest person

This billionaire could soon become the richest man in the world.

Larry Ellison has all the credentials to climb the ranking of the richest in the world - today he can boast the second position for the first time - until he manages to snatch the primacy from Elon Musk, owner of Tesla and SpaceX.

The CEO of Oracle managed to snatch the silver medal from Jeff Bezos thanks to the recent increase in Oracle shares.

Larry Ellison Becomes World’s Second Richest Person

Oracle founder and CEO Larry Ellison has surpassed Amazon founder Jeff Bezos to become the world’s second-richest person as of September 16. With a net worth of $250.8 billion, Tesla CEO Elon Musk continues to claim the top spot.

Larry Ellison’s net worth is currently $206.5 billion, compared to Bezos’s $202.9 billion.

Ellison’s wealth gain is due to the recent rally in Oracle shares, which closed up 5.1 percent on Monday. The enterprise software giant’s shares have risen 20 percent in the past month, the highest performance since October 2022, when the stock rallied about 28 percent.

Ellison’s net worth has risen to $8.1 billion, thanks to Oracle’s stock price rally. Last week, the company reported a quarterly report that beat analysts’ expectations, and it further raised its 2026 revenue projections.

During the margin call, Ellison said Oracle is planning to build new data centers to address the increased demand for computing power from the boom in generative artificial intelligence. The company is also joining forces with Amazon to enable its database services on dedicated hardware, similar to what it has done with Microsoft and Google.

If Oracle’s bullish trend continues, along with a few weaker sessions for Tesla, Larry Ellison could become the richest person on the planet.

Original article published on Money.it Italy 2024-09-17 13:37:24. Original title: Ecco chi sta per diventare l’uomo più ricco al mondo