Ellison saw his fortune soar to $ 1.8 billion on Thursday, as Oracle shares continued their ... recent momentum. Justin Sullivan / Images
The cofondaOracle billionaire Larry Ellison reached centibillionaire status for the first time after shares in his software company rose Thursday.
Oracle stock rose 1.8% as of 3:00 p.m. EST Thursday, pushing Ellison's net worth $ 1.8 billion, to $ 100 billion, according to estimates by Hfrance.fr. 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 that. to leave the post in 2014. The majority of his fortune comes from his participation ins the company - it owns about 35%, according to documents filed by the company.
Shares of Oracle have jumped about 10% in the past two weeks, adding billions of dollars to Ellison's net worth. The stock has even held steady despite Oracle's recent loss in its decades-long legal battle with Google. (The United States Supreme Court, April 5, 2021, that Google did not violate copyright law when it used parts of Oracle's Java programming code to build its system Android operating companies.) Investors have been increasingly bullish about Oracle, 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 very powerful cohort that includes Amazon CEO Jeff Bezos, Tesla CEO andSpaceX Elon Musk, LVMH chairman Bernard Arnault, Microsoft co-founder Bill Gates and Facebook's Zuckerberg. Musk was the most recent member of the $ 100 billion club to join, doing it in August 2020 then as shares of his electric car company, Tesla, have jumped.
Besides Ellison, there are three other high profile personalities who are about to join the centibillionaire club. Renowned investor Warren Buffett, known as the "Oracle of Omaha", is the seventh pRichest person on the planet, with a net worth of $ 99.6 billion, according to Hfrance.fr. (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. and $ 94.8 billion.