Larry Ellison Gets $40 Billion Richer On Oracle Stock Jump—Now 2nd-Wealthiest
Larry Ellison reclaimed his spot among the world's two richest people and then some this week as shares of his cloud computing titan shot to an all-time high following earnings, marking the latest back-and-forth near the top of Forbes' rich list amid the artificial intelligence arms race.
Oracle stock followed its 13% rally Thursday with a scorching 7% gain by midafternoon Friday, trading at a record of about $215 per share.
Ellison's net worth accordingly rocketed by more than $40 billion to $258 billion from Wednesday to Friday, enjoying easily the largest daily bump of any billionaire on both Thursday and Friday when his fortune rose by about $25 billion and $16 billion, respectively, according to Forbes data.
That gain was enough to vault Ellison past Amazon chairman Jeff Bezos ($228 billion net worth) and Meta CEO Mark Zuckerberg ($238 billion) for the second spot on Forbes' real-time billionaires ranking.
Ellison is now only less wealthy than his longtime friend Elon Musk ($414 billion net worth).
$104 billion. That's how much market capitalization Oracle has gained over the last two trading sessions. That's more than the total valuation of Intel or Nike.
Oracle's surge follows a Wednesday afternoon earnings report revealed stronger profits ($1.70 adjusted earnings per share) and sales ($15.9 billion revenue) than Wall Street expected for the company's financial quarter ending last month. Deutsche Bank analyst Brad Zelnick described the earnings update as a 'watershed' moment for Oracle, adding in a note to clients: 'When Larry Ellison speaks of entering a new era of cloud computing, all should pay careful attention,' nodding to Oracle's position as one of the powering forces in the generative and agentic AI push.
Oracle's 2026 fiscal year starting this month will be a 'major inflection point' for Oracle's core cloud infrastructure service 'driven by massive demand for AI training workloads,' predicted TD Cowen analyst Derrick Wood in a note.
Oracle is an enterprise software colossus, making much of its hay selling cloud computing and data storage, notably hosting the U.S. data of the social media platform TikTok. Ellison owns about 41% of Oracle, the company he cofounded in 1977. The 80-year-old Ellison is no stranger from the public eye. He served on Tesla's board of directors from 2018 to 2022, spent at least $20 million to help elect GOP candidates during 2022 midterm elections, bought a Hawaiian island for $300 million and even contributed to a record sum paid to bring the nation's top quarterback recruit to the University of Michigan's football team, the alma mater of his 33-year-old wife Kere Zhu. Ellison also appeared alongside President Donald Trump in January to unveil Stargate, the joint venture between Oracle, SoftBank and OpenAI to supercharge the U.S.' AI push.
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