Jeff Bezos suffers big jolt, loses world's second richest man title after 8 years. Who overtook him?
Amazon's Jeff Bezos became the second richest person on the planet in the year 2017
Amazon founder and CEO Jeff Bezos has lost the title of world's second richest man on the planet to Oracle's Larry Ellison. According to Forbes, Larry Ellison overtook Jeff Bezos and Mark Zuckerberg to become the world's second richest person. Ellison added a staggering $26 billion to his net worth which pushed his total wealth to $243 billion, as per Forbes's World's Billionaires List.
Ellison's net worth soared by $26 billion to $243 billion on Thursday, marking the largest daily increase among any billionaire. That gain was enough to vault Ellison past Amazon chairman Jeff Bezos ($228 billion net worth) and Meta CEO Mark Zuckerberg ($239 billion) for the second spot on Forbes' real-time billionaires ranking. He now stands second to Tesla CEO Elon Musk who has total net worth of $407 million.
The increase in Ellison's fortune follows Oracle's blockbuster earnings report earlier this week. The company's stock soared past $200 for the first time after reporting better-than-expected revenue and profit for the quarter ending in May.
ALSO READ: 'So cleverly written': This Netflix show with dark, psychopath-driven plot is nearly impossible to pause once you start According to Forbes, the jump in Larry Ellison's net worth sent Oracle stock to a record closing ticker of $200. Shares of Oracle jumped more than 13% after a Wednesday afternoon earnings report revealed stronger profits ($1.70 adjusted earnings per share) and sales ($15.9 billion revenue) than Wall Street expected for the company's financial quarter ending last month.
Deutsche Bank analyst Brad Zelnick described the earnings update as a 'watershed' moment for Oracle, adding in a note to clients: 'When Larry Ellison speaks of entering a new era of cloud computing, all should pay careful attention,' nodding to Oracle's position as one of the powering forces in the generative and agentic AI push.ALSO READ: The Traitors Season 4 cast revealed: Michael Rapaport, Donna Kelce, more set to compete. Check release dateAmazon's Jeff Bezos became the second richest person on the planet in the year 2017. His personal fortune then jumped to $75.6 billion following a steady rise in Amazon's stock. The e-commerce founder then surpassed investor Warren Buffett. Bezos lost his title of world's second richest person to Meta CEO Mark Zuckerberg in October 2024. His net worth rose by $78 billion to $206.2 billion then, topping Bezos' $205.1 billion net worth, according to TOI.
ALSO READ: Karen Read case and the story behind the high-profile Massachusetts murder trial: Explained in 10 points
Tesla CEO Elon Musk's financial standing received a significant boost, with his net worth climbing by $191 million to reach $411.4 billion.This rise in net worth came shortly after Musk publicly expressed regret for his critical social media posts aimed at President Donald Trump. The apology was shared on the social media platform X (formerly Twitter) and marked a potential reconciliation following a brief but heated dispute Elon Musk and Trump.Musk's dispute with Trump began when he criticised a Trump-backed bill, calling it 'The Big Ugly Bill' after stepping down from a government role. The disagreement escalated, with Musk posting a series of harsh comments about Trump, some of which he later deleted. "I regret some of my posts about President @realDonaldTrump last week. They went too far," Musk said on X.
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Time of India
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10 hours ago
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With a robust lineup across three price segments--the V Series for entry-level, Z Series for mid-range, and X Series for flagship devices--Prowatch continues to innovate and expand its market reach. Connect with us on Instagram, YouTube, and Facebook. #ProudlyIndian | Made in India, Made for India Lava International Limited, headquartered in Noida, Uttar Pradesh, is a pioneering mobile handset and solutions company in India, founded in 2009 with the vision to empower individuals. The company's corporate office and manufacturing facility, equipped with a production capacity of 42.52 million handsets per annum, are strategically located in Noida. Lava's commitment to innovation is reflected in its two state-of-the-art research and development centers in Noida, housing dedicated teams in software and hardware design. 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