Larry Ellison Overtakes Elon Musk as World's Richest Person

Larry Ellison, co-founder of Oracle, has surpassed Elon Musk on the list of the world's richest people. Ellison's fortune increased by $101 billion, reaching $393 billion, according to the Bloomberg Billionaires Index.

This increase is attributed to Oracle's positive results for the last quarter, which exceeded analysts' forecasts. Oracle's shares rose by 41% after the announcement, while shares of Elon Musk's company, Tesla, have fallen by 13% this year.

The 81-year-old Ellison is the chairman and chief technology officer of Oracle. His wealth is tied to the database software company. He has also invested in sailing races and the purchase of Lanai Island in Hawaii.

Larry Ellison's early life did not foreshadow his later success. His mother, Florence Spellman, gave birth to him in 1944 in the Bronx, New York. In 1977, along with Oates and Miner and with just $2,000 in funding, they founded Software Development Laboratories (SDL), which was later renamed Oracle.

Source: protothema.gr