Big reversal in the global ranking of billionaires, this giant overtook Elon Musk

New Delhi: A big reversal has been seen in the global ranking of billionaires. For a long time, Tesla and SpaceX owner Elon Musk was considered the richest person in the world, but now 81-year-old tech giant and Oracle co-founder Larry Ellison has overtaken him. The historic rise in the company’s shares has brought Ellison straight to the number-1 position.

According to the data, his total wealth increased by more than $ 100 billion in a single day and he reached the top, leaving Musk behind with a net worth of $ 393 billion. But before reaching here, his early life was full of struggles. Let’s know his story. Larry Ellison’s life journey is no less than a film story, born in New York in June 1944, Ellison was handed over to relatives by his mother nine months after his birth and left.

Larry Ellison had not even seen his mother’s face till the age of 48. Financial difficulties and insecurity were always present in his childhood. Larry Ellison was not interested in studies, he enrolled in the universities of Illinois and Chicago, but could not complete his graduation. After leaving his studies incomplete, he started looking for a job and headed to California.

After reaching California, Ellison became passionate about computer programming. While working on small projects, he understood the nuances of technology. This interest in machines and coding became the turning point of his life. His quick thinking and ability to take risks showed him the way forward.

In 1977, he laid the foundation of a software venture with his friends by investing just 2000 dollars. Initially, this company used to prepare database software for government projects. In the same year, he formed Software Development Laboratories (SDL) along with two partners, which was later named Oracle Corporation. This company became the real reason for his success in the coming decades.

Ellison worked as the CEO of Oracle for about 37 years. In 2014, he resigned from this position, but remained fully associated with the company. Today he is the Chairman and Chief Technology Officer of Oracle. In 2012, he bought Hawaii’s famous Lanai Island for $300 million and settled there in 2020, but despite this, his passion for technology and innovation never diminished.

His 41% stake in Oracle brought him to this position. In the past few days, the shares of this company saw a strong jump. On September 10, Oracle’s stock rose nearly 40% to $339.69. The growing demand for AI-based cloud services was the main reason for this jump. As a result, the company’s market cap reached around $948 billion. This growth took Ellison’s net worth to $393 billion.