Larry Ellison, founder of Oracle, is now the second richest person in the world with a net worth of $254 billion, surpassing Mark Zuckerberg. Ellison's wealth increased by $57 billion this year, while Elon Musk's net worth dropped to $349 billion due to Tesla's 30% stock decline. Oracle's stock rose 41%, reflecting significant revenue growth in cloud computing and artificial intelligence. Musk benefits from the valuable SpaceX and xAI, but faces challenges with Tesla's unit sales and increasing competition in the automotive sector.
Larry Ellison's net worth has risen to $254 billion, surpassing Mark Zuckerberg and positioning him as the second richest person behind Elon Musk, valued at $349 billion.
Ellison's wealth increase of $57 billion contrasts with Musk's decrease of $84 billion, attributed to fluctuating stock values of their respective companies, Oracle and Tesla.
Oracle's revenue growth, from $38 billion ten years ago to $53 billion in 2024, demonstrates its expanding presence in cloud computing and artificial intelligence.
Tesla has seen a 30% drop in stock value this year, significantly impacting Musk's wealth, while Ellison benefits from a 41% increase in Oracle's stock.
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