A Billionaire Shake-Up Shocks the World
In a surprising twist in the billionaire universe, Amazon’s Jeff Bezos has lost his long-held title as the world’s second-richest person. Stepping into the spotlight is Oracle’s co-founder, Larry Ellison, who just pulled off something extraordinary. Ellison’s net worth grew by $26 billion in one day. That unbelievable leap pushed him past Bezos and even Facebook’s Mark Zuckerberg.
As of June 12, Ellison now stands proudly at $243 billion. Meanwhile, Bezos dropped to $227 billion. This marks the end of an era, Bezos had held the second spot for nearly eight years.
Oracle’s Big Win, Ellison’s Bigger Payoff
What triggered this massive shift? The magic lies in Oracle’s May quarter performance. It was nothing short of a blockbuster. The company beat market expectations, and its shares surged like never before. Oracle’s stock surpassed $200 for the first time ever
Ellison, who still owns a significant portion of the company, was the biggest winner. The stock jump nearly 13% in a single day, poured billions into his already massive fortune.
According to Oracle’s financial report, total sales reached $15.9 billion, while earnings per share hit $1.70. Investors cheered. The market responded. And Ellison made history.
The Fall of Bezos: A Reminder of How Fast Things Change
Bezos isn’t exactly hurting, but this marks a major change. Back in 2017, he became the world’s second-richest man after surpassing Warren Buffett. That was when Amazon stock was soaring. Now, he finds himself behind not just Larry Ellison but also Meta’s Mark Zuckerberg, whose net worth has touched $239 billion.
And at the top is Elon Musk still reigns supreme with an eye-watering $407 billion fortune. Even Musk’s fortune saw a bump this week, $191 million richer in just a few days.
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Final Thought: Everything Can Change in a Day
The world of billionaires is erratic, competitive, and dynamic. One good quarter, one spike in stock prices and fortunes flip overnight and Larry Ellison just reminded the world of that.