Larry Ellison and Jeff Bezos Claim Second Place on Billionaire List

Amazon founder Jeff Bezos and Oracle co-founder Larry Ellison have continued their back-and-forth rivalry for the No. 2 spot on the world’s billionaire rankings. As of Thursday afternoon, Ellison narrowly edged out Bezos, with an estimated net worth of $228.4 billion compared to Bezos’ $227.3 billion. Both remain behind Tesla CEO Elon Musk, who holds the top position with a staggering $299.9 billion fortune.

Ellison’s wealth declined by $2.9 billion on Thursday due to a slight drop of over 1% in Oracle shares. The software giant has experienced a relatively quiet trading period, with minimal fluctuations over the past five days. Meanwhile, Bezos saw his net worth decrease by $1.8 billion as Amazon shares also dipped more than 1%, tempering the gains they had made earlier in the day.

This marks the latest exchange of the No. 2 spot between the two billionaires, a trend that began in September when Ellison initially overtook Bezos following a surge in Oracle shares. Bezos reclaimed the position earlier this month after Amazon reported stronger-than-expected earnings, only for Ellison to regain the title this week.

Mark Zuckerberg, Meta’s co-founder, has remained firmly in the fourth position with an estimated net worth of $199.1 billion. Unlike Oracle and Amazon, Meta’s shares have underperformed, declining over 2% in recent weeks, keeping Zuckerberg well behind both Ellison and Bezos.

The fortunes of Ellison, Bezos, and other high-profile billionaires, including Elon Musk and Warren Buffett, saw significant increases following the 2024 U.S. election. Ellison’s net worth surged by $12 billion after Election Day, while Bezos added $7 billion to his fortune. Oracle’s stock has climbed more than 77% this year, fueled by a 21% rise in net income during its most recent earnings report, which exceeded analyst expectations.

Amazon’s stock, meanwhile, has risen nearly 40% since the start of the year. The e-commerce giant has been actively implementing cost-cutting measures after a difficult 2022, during which its share price plummeted. This year, Amazon laid off more than 27,000 employees and recently reported $158.9 billion in revenue, surpassing analysts’ expectations by $1.7 billion.

While Musk’s lead as the world’s richest person remains unchallenged, the race for the No. 2 spot highlights the volatility of tech billionaires’ fortunes, with market performance playing a significant role in determining their positions.

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