Larry Ellison, co-founder and chief technology officer of Oracle (ORCL), has become the world’s second-richest person, surpassing Meta’s Mark Zuckerberg, following a sharp rally in Oracle shares that significantly boosted his net worth.
As of Wednesday, Ellison's net worth was $257 billion, with Zuckerberg trailing him by $10 billion, according to the Bloomberg Billionaires Index. Tesla CEO Elon Musk is still the world’s richest person, with a net worth of $357.8 billion.
Ellison, 80, added nearly $65 billion to his net worth this year, as the Oracle stock increased in value in what has otherwise been a tumultuous market environment. The tech entrepreneur’s net worth comes mainly from his stake in the company he co-founded.
The software and cloud company's shares have risen about 90% from a recent low in April, amid steady growth in its revenues and key AI partnerships that have boosted its cloud business.
Oracle secured billions of dollars worth of cloud computing contracts in recent months and said it is developing gigawatts of data center power to serve enterprise clients, including OpenAI (OPENAI), which rented a massive amount of additional capacity earlier this month as part of the companies’ Stargate initiative with SoftBank Group.
Oracle reported revenue and profits for the last quarter, Q4, above Wall Street expectations, and forecast FY26 revenue to be "dramatically higher."
Ellison owns more than 40% of Oracle, as well as a stake in Tesla (TSLA); a sailing team; the Indian Wells tennis event; and real estate, including Hawaii’s Lanai island, according to a Bloomberg News report.
As Oracle stock soared, CEO Safra Catz cashed out $1.8 billion by selling some of her shareholding, the largest divestiture by a U.S. executive in the three months through June.
Nvidia CEO Jensen Huang’s wealth also increased after the recent rally in the company's stock. Huang overtook Warren Buffett to move into ninth place for the first time. Amazon (AMZN) Executive Chairman Jeff Bezos is at the fourth spot, with a net worth of $243 billion.
Oracle shares are up nearly 45% year-to-date, compared to the 6.5% rise in the benchmark S&P 500 index (SPX) and 7.4% gains in the tech-heavy Nasdaq Composite (IXIC).
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