Topline
Amazon founder Jeff Bezos and Oracle co-founder Larry Ellison have traded off the No. 2 spot on Forbes’ billionaire list Thursday, marking the latest exchange of the title between the two tech billionaires since September.
Bezos net worth is down more than $2 billion Thursday. (Photo by Cooper Neill/Getty Images)
Key Facts
Ellison’s estimated net worth reached $228.4 billion as of 3:30 p.m. EST Thursday, narrowly overtaking Bezos’ net worth of $227.3 billion and placing him behind Tesla chief Elon Musk, the world’s richest person worth an estimated $299.9 billion.
Ellison’s net worth is down $2.9 billion Thursday as shares of Oracle are down a little more than 1%, continuing a quiet five-day stretch for the computer software giant, which has traded up a fraction of a percent within that period of time.
Bezos is down $1.8 billion as Amazon shares trade down more than 1%, tempering gains it made within the first hour of trading Thursday.
Ellison and Bezos have sparred over the No. 2 spot on Forbes’ billionaire list for several weeks, with Ellison grabbing the title in September amid a rally in Oracle shares and Bezos claiming it early this month after Amazon reported positive earnings.
Get Forbes Breaking News Text Alerts: We’re launching text message alerts so you’ll always know the biggest stories shaping the day’s headlines. Text “Alerts” to (201) 335-0739 or sign up here.
Tangent
Meta co-founder Mark Zuckerberg has maintained his spot as the world’s fourth richest person as Ellison and Bezos have traded places. Zuckerberg, who boasts a $199.1 billion estimated net worth, remains firmly outside the range of Ellison and Bezos as Meta shares have failed to replicate the gains made by Oracle and Amazon in the past month. Meta’s stock is down more than 2% in that time.
Key Background
Ellison, Bezos and other billionaires like Musk and world-renowned investor Warren Buffett saw their net worths surge in the wake of the 2024 election. Ellison became $12 billion richer after Election Day while Bezos’ net worth spiked $7 billion. Oracle shares have jumped more than 77% on the year as the company reported a 21% jump in net income during its latest earnings report, besting analyst expectations. Amazon stock is up nearly 40% since January, when it traded at $149.43 per share. The e-commerce giant has been engaged in cost-cutting measures since its share price plummeted in 2022, laying off more than 27,000 employees and recently posting $158.9 billion in revenue—$1.7 billion above analysts expectations.
Further Reading
Amazon Earnings: Stock Climbs As E-Commerce Giant Beat Expectations (Forbes)
Jeff Bezos Overtakes Larry Ellison As Second Richest Person In The World (Forbes)
