Oracle billionaire co-founder Larry Ellison reached centibillionaire status for the first time after his software publisher’s shares rose on Thursday.
Oracle stock rose 1.8% as of 3:00 p.m. EST Thursday, pushing Ellison’s net worth to $ 1.8 billion, to $ 100 billion, according to TBEN‘estimates. The stock then edged gains slightly, lowering Ellison’s net worth to $ 99.8 billion at the close of the market. He remains the sixth richest person on the planet, less than $ 15 billion behind the world’s fifth richest, Facebook co-founder and CEO Mark Zuckerberg.
Ellison is president and chief technology officer of software giant Oracle, which he co-founded in 1977. The tech billionaire also served as CEO of Oracle for 37 years before stepping down in 2014. The majority of his fortune comes from his stake in the company – he owns around 35%, according to company filings.
Oracle shares have jumped about 10% in the past two weeks, adding billions of dollars to Ellison’s net worth. The stock has even remained stable despite Oracle’s recent loss in its decades-long legal battle with Google. (The United States Supreme Court ruled on April 5, 2021 that Google did not violate copyright law by using parts of Oracle’s Java programming code to build its Android operating system. ) Investors have been increasingly optimistic about the growth of Oracle’s cloud business, seeing it as an emerging competitor to established heavyweights in this space, such as Google, Amazon and Microsoft.
The software mogul was briefly the world’s sixth centibillionaire, joining a high-powered cohort that includes Amazon CEO Jeff Bezos, Tesla and SpaceX chief Elon Musk, LVMH chairman Bernard Arnault, Microsoft co-founder Bill Gates and Zuckerberg from Facebook. Musk was the most recent member of the $ 100 billion club to join the club, doing so in August 2020 as shares of his electric car company, Tesla, surged.
Besides Ellison, there are three other high profile personalities who are set to join the centibillionaire club. Famous investor Warren Buffett, known as the ‘Oracle of Omaha’, is the seventh richest person on the planet, with a net worth of $ 99.6 billion, according to TBEN. (It broke the $ 100 billion mark in March 2021, but Berkshire Hathaway shares fell quickly.) Just behind Buffett in the rankings are Google co-founders Larry Page and Sergey Brin, who are worth 97.8, respectively. billion dollars and 94.8 billion dollars.