Oracle’s Larry Ellison races past Bezos and Brin to become world’s third-richest person

Larry Ellison, co-founder of Oracle, has ascended past tech titans Jeff Bezos and Sergey Brin to claim the title of the world's third richest individual. As reported by Bloomberg’s Billionaire Index, Ellison's net worth has soared to an impressive $302 billion as of June 2, 2026. He now sits just behind Elon Musk of SpaceX and former Google CEO Larry Page. The surge in Ellison's wealth comes on the heels of a significant increase in Oracle’s stock prices. The company's shares experienced a remarkable rise of approximately 11% on May 29, reaching a peak of $244 on June 1, marking Oracle's most robust monthly performance in over twenty years. During this latest tracking period, Ellison’s fortune grew by $21.4 billion, contributing to an astounding year-to-date increase of $55.1 billion. In a remarkable turn of events, Ellison witnessed a staggering $100 billion spike in his net worth during a stock rally in September 2025, setting a record for the largest single-day wealth increase and pushing his total fortune close to $400 billion. This substantial rise is attributed to his nearly 41% ownership stake in Oracle, highlighting the direct correlation between his wealth and the company's stock performance. However, it hasn't been a smooth journey. In April 2026, Ellison’s wealth had plummeted to $195 billion, a significant drop of nearly $200 billion from his September peak, placing him in sixth on the Billionaires Index due to poor stock performance. Now, with Oracle's stock rebounding, he is back on the rise in just a month. Once primarily known for its database and enterprise software solutions, Oracle has strategically repositioned itself to capitalize on the AI boom, supplying the necessary computing power for companies developing advanced AI technologies. Yet, this transition was not without its challenges; on March 31, Oracle announced the layoff of over 30,000 employees worldwide, representing about 18% of its workforce, with over 12,000 job cuts occurring in India.