Larry Ellison Overtakes Bezos, Zuckerberg To Become World’s 2nd Richest Person As Oracle Stock Rips Post Earnings
Synopsis
Ellison’s wealth stood at $243 billion, putting him second only to his friend and Tesla CEO Elon Musk, who has a net worth of $411 billion.
Larry Ellison reportedly overtook Jeff Bezos and Mark Zuckerberg to become the world’s second richest person, as the Oracle stock ripped on Thursday after its fourth-quarter earnings surpassed Wall Street expectations.
Ellison’s wealth stood at $243 billion, according to Forbes, putting him second only to his friend and Tesla CEO Elon Musk.
The Oracle co-founder raced past Amazon.com Inc. founder Bezos and Meta Platforms co-founder Zuckerberg, whose wealth stood at $239 billion and $227 billion, respectively.
At $411 billion, Musk remains the richest person in the world by a wide margin.
As for Ellison, the Forbes tracker shows a wealth gain of $26.4 billion over the past day.
The Oracle co-founder thinks the future is bright in this era of cloud computing.
“Most of the world's valuable data is stored in an Oracle database. All of those databases are moving to the cloud. Oracle runs everywhere,” Ellison said in a post-earnings call with analysts.
The massive surge in Ellison’s wealth is due to Oracle stock reaching a new all-time high of $202.49 on Thursday, a gain of nearly 14%.
The Austin, Texas-headquartered software giant reported earnings per share (EPS) of $1.70 in Q4, beating Wall Street expectations of $1.64. Its revenue stood at $15.9%, beating an estimated $15.59 billion and rising 11% year-on-year (YoY).
This resulted in a slew of price target upgrades, with analysts at Bank of America underscoring that Oracle’s Remaining Performance Obligations (RPO) guidance was “impressive.”
Oracle increased its FY26 revenue target to $67 billion from $66 billion, which is a 16% YoY growth in constant currency terms. The software giant expects its FY27 revenue to grow at a much faster clip of more than 20%.
Oracle’s stock has gained nearly 21% year-to-date and more than 43% over the past 12 months.
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