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Oracle’s Larry Ellison Briefly Becomes World’s Second-Richest Person, Surpassing Jeff Bezos
Oracle Chairman Larry Ellison briefly claimed the title of the world’s second-richest person on Friday, overtaking Amazon founder Jeff Bezos. Ellison’s net worth reached $208.4 billion shortly after the market opened before settling at $197 billion, according to Forbes’ real-time billionaires list. Meanwhile, Bezos’ fortune stands at $204 billion. Elon Musk remains the world’s wealthiest person, with a net worth of $252 billion.
Ellison’s rise in wealth was driven by Oracle’s best stock market performance since 2021. The company’s shares surged, closing at $162.03 on Friday, bolstered by an optimistic revenue forecast through fiscal 2029 and strong quarterly results. Oracle’s stock has risen about 54% this year, second only to AI chipmaker Nvidia among large-cap tech stocks.
As Oracle’s co-founder and its largest shareholder with a 40% stake, Ellison has significantly benefited from the company’s resurgence in cloud infrastructure and the growing demand for its cloud databases. Over the past year, Oracle has strengthened its cloud offerings by partnering with Amazon Web Services (AWS), Microsoft, and Google, positioning itself for further growth in both public and private cloud markets.
Ellison’s wealth fluctuated as he and Bezos competed for the second spot on the world’s richest list, just days after Oracle announced a new partnership with Amazon. Under this partnership, Oracle’s database software will be available for AWS customers, further boosting Oracle’s cloud presence.
Workers at Major US Tech Companies Overwhelmingly Support Kamala Harris, Data Reveals
According to data compiled by political watchdog OpenSecrets, employees at some of the largest U.S. tech companies, including Alphabet, Amazon, and Microsoft, are strongly backing Democratic presidential candidate Kamala Harris in the upcoming election. Workers at these tech giants have donated millions to Harris’ campaign, significantly outpacing the contributions made to former President Donald Trump’s campaign.
Despite the substantial support from tech employees for Harris, some of Silicon Valley’s most prominent billionaires, such as Tesla CEO Elon Musk and venture capitalists Marc Andreessen and Ben Horowitz, have thrown their weight behind Trump, praising his economic policies and business-friendly stances. The Nov. 5 election has sparked divisions in Silicon Valley, which has historically leaned Democratic. While entrepreneurs like Reid Hoffman and Mark Cuban are supporting Harris for her stance on tech policies and workers’ rights, other tech leaders have become disillusioned with Democratic policies, particularly around business regulations.
While corporations cannot donate directly to federal campaigns, employees can contribute to candidates of their choice. The data shows that Alphabet employees and their family members have contributed over $2.16 million to Harris, while Amazon and Microsoft employees have donated $1 million and $1.1 million, respectively. In contrast, Trump’s campaign has received far less support from tech workers, with Alphabet workers contributing just $57,000 to his campaign, and Amazon and Microsoft workers donating $116,000 and $88,000, respectively.
In contrast, Walmart workers have split their donations more evenly between the two candidates, with Trump’s campaign receiving slightly more support than Harris’. Analysts suggest that the difference in donations reflects the higher disposable income of tech company employees, who tend to earn more than workers in retail or other industries.
Although Meta and Apple employees haven’t yet reached the million-dollar donation mark, their contributions to Harris still dwarf those made to Trump. Meta employees have donated $835,000 to Harris and just $25,000 to Trump, while Apple workers have contributed $861,000 to Harris and $44,000 to Trump.
The data underscores Silicon Valley’s general left-leaning tendency, despite some influential figures in the tech world rallying behind the former president.