"Larry Ellison, the co-founder of software company Oracle, is having a good year. His friend Donald Trump is in the White House, his son David Ellison has taken over the storied media company CBS, and on Wednesday he surpassed his buddy Elon Musk to win the title of the world's richest man. Oracle's stock went wild with the news, pushing his fortune even higher."
"Ellison is not as much of a household name as Musk, but he's largely influential in Silicon Valley and more recently, politics. He's known for a lavish lifestyle filled with mega-yachts, private jets, a long list of wives, and owning the entire Hawaiian island of Lanai. The 81-year-old mega-billionaire made his fortune in software development going back to the 1970s."
"He co-founded Oracle after landing a two-year contract building a database for the US government's Central Intelligence Agency, according to the Academy of Achievement. Oracle became a tech giant creating software for Fortune 500 companies around the world, and more recently in cloud computing. The advent of artificial intelligence has been a boon for the company as it has entered lucrative deals with the likes of OpenAI, the maker of ChatGPT."
Larry Ellison briefly overtook Elon Musk as the world's richest person after Oracle's share price surged, lifting his net worth to about $393bn before intraday volatility reduced the lead. Oracle's growth traces to a 1970s CIA database contract and decades of enterprise software development, later expanding into cloud computing. Recent artificial intelligence partnerships, including deals with OpenAI, helped fuel investor enthusiasm. Ellison retains more than 40% ownership, chairs Oracle's board, served as CEO for 37 years, and moved the company's headquarters to Austin in 2020. He is influential in Silicon Valley and politics and maintains a lavish personal lifestyle.
Read at www.theguardian.com
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