Another Billionaire Becomes World's 2nd Richest Man As Jeff Bezos Drops to 4th, Dangote Ranks High
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends. (edited)
Larry Ellison, co-founder and chairman of Oracle, has overtaken Amazon’s Jeff Bezos to become the world’s second-richest individual.
According to the latest update from Forbes’ World's Billionaires list, Ellison is worth $253 billion as at June 15.
Source: Getty Images
The 79-year-old tech rise in the rankings follows his company's recently released and impressive quarterly earnings report.
The robust performance boosted investor confidence and expanded Ellison’s stake in the enterprise software giant.
On Thursday, June 12 alone, he recorded a staggering $26 billion surge in his net worth on
This marks the largest single-day wealth gain by any billionaire so far this year, Economictimes India reports.
With the new figures, Ellison now ranks ahead of Meta CEO Mark Zuckerberg, whose wealth stands at $235.7 billion, and Amazon founder Jeff Bezos, whose net worth has dropped to $226.8 billion, placing him in fourth.
Bezos, who held the second spot on the global rich list for years after a surge in Amazon’s stock in 2017, has now slipped to fourth place. At one point, he was also the world’s richest man.
In October 2024, he briefly lost the second position to Zuckerberg, whose net worth climbed sharply at the time due to gains in Meta’s market value, but recovered to sit behind Elon Musk.
Elon Musk, Tesla and SpaceX CEO, remains firmly in the top spot with an estimated fortune of $410.8 billion.
The top 10 richest men and their net worth are as follows:
Source: Getty Images
Aliko Dangote continues to be the richest man in Africa and the only African among the world’s top 100 wealthiest individuals.
As of June 15, Dangote's net worth stands at $23.4 billion, placing him 87th on the global rich list.
In Africa, his closest rival is Johann Rupert, with a fortune of $14 billion, ranking 174th in the world.
Tinubu announces names of wise men in Nigeria
Earlier, Legit.ng reported that President Bola Tinubu has stirred reactions as he commented on his relationship with Nigerian billionaire, Femi Otedola, describing him as his baby brother.
The business mogul is the son of Michael Otedola, the former Governor of Lagos, a state that Tinubu also governed for eight years before rising to the presidency.
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Source: Legit.ng
