Oracle continues its growth in AI and cloud computing.
Oracle's recent stock rally has propelled Chairman Larry Ellison to the position of the world's second-richest person, surpassing Amazon founder Jeff Bezos. As of Monday, Ellison's net worth jumped by $8.1 billion to reach $206 billion, according to Forbes' real-time billionaires list, putting him just behind Tesla CEO Elon Musk, who remains the richest person globally with a net worth of $251 billion.
Ellison's wealth surge comes after Oracle reported strong earnings last week, surpassing expectations and boosting its fiscal 2026 revenue forecast. The stock has increased by 5% to over $170, while Amazon’s stock dipped slightly, shaving about $1.6 billion off Bezos’ net worth, which now stands at $203 billion. Ellison’s fortune has grown by $34 billion since September 6, when he was ranked as the fifth-richest person.
A significant factor in Oracle's success is its growing role in the artificial intelligence (AI) boom. During the company’s earnings call last week, Ellison emphasised Oracle’s investment in building data centres to meet the increasing demand for generative AI. These data centres, ranging from small, portable facilities to large 200-megawatt centres, are crucial for training and maintaining large language models. Ellison highlighted that Oracle is focused on creating the most affordable and scalable cloud infrastructure to support the future of AI.
Oracle’s recent partnerships have also contributed to its stock rally. The company announced that it would partner with Amazon Web Services (AWS) to offer its database services on dedicated hardware. This adds to previous deals with Microsoft and Google, making Oracle a key player in the cloud infrastructure space alongside the industry’s biggest names.
Oracle’s stock has risen 21% over the last five trading sessions, pushing Ellison's wealth to new heights. If this growth continues, it could become Oracle’s best month since October 2022, when shares surged 28%. The company’s performance is driven by strong earnings, promising guidance, and strategic cloud partnerships that position Oracle as a leader in both the cloud computing and AI sectors.
Ellison, who holds about 40% of Oracle's shares, has seen his fortune rise in tandem with the company’s stock performance. The 80-year-old is now poised to become the controlling shareholder of CBS parent Paramount, following a takeover by his son, David Ellison, the CEO of Skydance Media.
As Oracle continues to grow in the cloud computing and AI industries, Larry Ellison's wealth and influence are likely to expand even further. With partnerships across the top tech firms and a strong commitment to innovation, Oracle is well-positioned to remain a key player in the evolving digital landscape. For now, Ellison sits just behind Elon Musk on the list of the world’s richest individuals, with Jeff Bezos and Meta founder Mark Zuckerberg trailing closely behind.
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