On the flip side, Larry Ellison (+$102 billion), Mark Zuckerberg (+$56 billion), and Jensen Huang ($37 billion) have seen sizable wealth increases.
Only $60 billion now separates Musk and Ellison as No. 1 and 2, according to Bloomberg, thanks to the newfound success of Ellison’s tech giant, Oracle. The company’s new focus on AI helped earnings soar and contributed to a stock jump of over 50% this year. Ellison’s wealth has grown by over $100 billion this year, and it’s only likely to continue.
“Oracle’s future is bright in this new era of cloud computing. Oracle will be the number one cloud database company,” Ellison said in the business’s earnings call in June. “Oracle is already prospering in this new era of cloud computing and AI, and it’s just the beginning.”
If the trends continue, and Oracle continues to grow while Tesla flounders, Ellison could replace Musk as the richest person in the world by year’s end.
