World richest person: There has been a big upset in the global rankings of billionaires. Alan Musk, owner of Tesla and SpaceX, was considered the world’s richest man for a long time, but now 81-year-old tech veteran and Oracle co-founder Larry Alison has beaten him. The historic boom in the company’s shares has put Alison directly on number-1 position.

According to the data, his total assets rose over $ 100 billion in a single day and reached the top, leaving behind the Musk with a net worth $ 393 billion. But before reaching here, his early life was filled with struggles. Let’s know his story.

The story started with poverty

Larry Ellison’s life journey is no less than a film story, Born in New York in June 1944, his mother handed over to relatives after nine months of birth and left. Larry Alison did not even see his mother’s face until the age of 48. Financial crisis and insecurity were always present in his childhood. Larry Ellison did not feel much in education, he enrolled in the universities of Illinois and Chicago, but could not complete the graduation. After leaving his studies incomplete, he started searching for a job and turned to California.

Technology changed life

After reaching California, Alison got a passion for computer programming. While working on small projects, he understood the nuances of technology. This interest in machines and coding became the turning point of his life. His fast thinking and risk ability showed him the way to move forward.

Empire erected with $ 2000

In 1977, he laid the foundation of a software venture with his friends by planting just $ 2000. Initially, this company used to prepare database software for government projects. In the same year, he along with two partners created a software development laboratories (SDL), which was later named Oracle Corporation. This company became the real reason for their success in the coming decades.

CEO remained for 37 years

Alison worked as a CEO of Oracle for about 37 years. In 2014, he resigned from the post, but was fully connected to the company. Today he is the chairman and chief technology officer of Oracle. In 2012, he bought a famous Lai Lai Island for $ 300 million and settled there in 2020, but despite this, his attachment to technology and innovation never diminished.

AI demanded amazing

His 41% stake in Oracle brought him to this point. Recently, there was a strong jump in the shares of this company. On September 10, Oracle’s stock rose about 40% to $ 339.69. The increasing demand for AI based cloud services was the main reason for this surge. As a result, the company’s market cap reached about $ 948 billion. This speed brought Alison’s net worth to $ 393 billion.

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It is said that when a friend reaches a high position, then his closest friends benefit more from him. However, this is not happening with Alan Musk. In fact, ever since his close friend Donald Trump became the President of America, his wealth has been seen continuously.

Talking only for the last three months, the wealth of Alan Musk has come down as much as India’s richest person Mukesh Ambani. Let us tell you the reason for the major decline in the wealth of the world’s richest people in this news.

The top 20 of the world is getting rich

This year, the wealth of 13 out of the top 20 richest people in the world has declined. Alan Musk, owner of many big brands like Tesla, SpaceX and X, has suffered the biggest shock this year. His total assets have decreased by $ 95.4 billion. This amount is more than the total assets of Mukesh Ambani, the richest person in India and Asia. But despite this, Musk remains the world’s richest person with $ 337 billion.

Whose property declines

Alan Musk – $ 337 billion (declined by $ 95.4 billion)

Jeff Bezos – $ 222 billion (declined by $ 16.5 billion)

Mark Zuckerberg – $ 213 billion (increase by $ 5.76 billion)

Bernard Arno – $ 172 billion (declined by $ 4.61 billion)

Larry Ellison – $ 168 billion (fall down by $ 23.9 billion)

What is the situation of Indian billionaires

Talking about Indian billionaires, Mukesh Ambani’s net worth has increased by $ 659 million this year to $ 91.3 billion and he has moved to 17th position in the world’s most rich list. Gautam Adani is ranked 21st with assets of $ 75 billion, although his assets were recorded at $ 2.7 billion on Thursday.

Why are the rich of the world becoming poor?

Financial Experts believe that the assets of billionaires have been affected due to recession in Tech and Automobile sector, increase in interest rates and uncertainty in the global economy. However, with the expectations of the market improvement, it is also expected that the situation may improve in the coming time.

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