Who Is Larry Ellison, the Billionaire Who Overtook Elon Musk?

Meet Larry Ellison, the Oracle Cofounder Who Just Became the World’s Richest Man

Larry Ellison is having a Wednesday unlike any other. With a single day’s leap in fortune of more than $100 billion, the Oracle cofounder has officially dethroned Elon Musk to become the world’s richest person, according to the Bloomberg Billionaires Index.

At $393 billion, Ellison’s wealth now edges past Musk’s $385 billion, thanks to Oracle’s stock posting its biggest single-day gain since 1992. But behind the jaw-dropping numbers lies a fascinating story of risk-taking, reinvention, and an almost unmatched ability to ride the waves of technological change. So who exactly is Larry Ellison? Let’s take a closer look.

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Ellison’s billionaire journey traces back to 1977, when he teamed up with Bob Miner and Ed Oates to launch Software Development Laboratories in Santa Clara, California. One of their earliest contracts was with the CIA, who needed a database system with the codename “Oracle.” By 1982, the company officially rebranded as Oracle, and just four years later it went public. From its early days as a database software provider to its modern transformation into a cloud and AI infrastructure giant, Oracle has been at the center of Silicon Valley’s evolution for nearly half a century.

From CEO to AI Kingmaker

Ellison wore many hats at Oracle over the years. He was president from 1978 to 1996, served twice as chairman, and weathered a near-fatal bodysurfing accident in 1992 before returning to the helm in 1995.

In 2014, he stepped down as CEO but stayed deeply involved, taking on the roles of executive chairman and chief technology officer, positions he still holds. Under his watch, Oracle pivoted from a traditional software company to a powerhouse providing AI cloud infrastructure. Just this week, Oracle revealed it had signed four multibillion-dollar AI contracts in a single quarter, with more on the horizon. That announcement was enough to send the company’s stock into orbit and Ellison’s fortune into the stratosphere.

Ellison isn’t just about business. He’s known for his extravagant lifestyle and eclectic passions.

In 2012, he bought 98% of Lana’i, Hawaii’s sixth-largest island, transforming it into a private paradise.
A lover of the sea, he bankrolled Oracle Team USA, which famously staged a dramatic comeback to win the 2013 America’s Cup before disbanding in 2017.
In 2018, he cofounded SailGP, a high-speed catamaran racing league with global reach, now backed by celebrities like Anne Hathaway and soccer superstar Kylian Mbappé.
He also revived the Indian Wells tennis tournament in California, often dubbed the “fifth slam,” complete with luxury touches like a Nobu overlooking center court.

Clearly, Ellison’s playground is as vast as his bank account.

Politics and Power

Ellison has long been active in U.S. politics, mostly leaning Republican. He has donated millions of dollars to conservative groups, including $15 million in 2022 to a super PAC backing Senator Tim Scott’s presidential bid and earlier support for Marco Rubio.

He also maintains close ties with Donald Trump, appearing at the White House alongside OpenAI CEO Sam Altman and SoftBank’s Masayoshi Son when Trump announced new AI infrastructure initiatives.

Philanthropy and the Giving Pledge… With a Twist

Ellison has donated to medical research as well, including a $200 million gift to the University of Southern California in 2016 to establish a cancer research and treatment center. In 2010, he signed the Giving Pledge, committing to give away 95% of his fortune. But true to form, Ellison has taken a path all his own. He recently amended his pledge to funnel money into the Ellison Institute of Technology, a project tied to the University of Oxford.

The institute’s mission? To take on some of the world’s greatest challenges, cancer treatment, world hunger, sustainable farming, clean energy, and climate change. A New York Times report noted that Ellison has kept his philanthropic approach independent, preferring autonomy over aligning with Bill Gates’ causes. In other words, Ellison is determined to give on his terms, not anyone else’s.

At 81 years old, Ellison’s journey from college dropout to the richest man alive is the stuff of Silicon Valley legend. His story reflects more than just financial success, it’s a testament to his longevity, vision, and uncanny timing in betting big on the future of technology.

As Oracle cements itself as a central player in the AI revolution, Ellison’s fortune has soared to historic levels. But beyond the billions, his legacy will likely rest on how he reshapes industries, from AI to medicine, while indulging passions that range from sailing to tennis to island living.

For now, one thing is clear: Larry Ellison isn’t just the world’s richest man, he’s one of its most fascinating.