Larry Ellison, co-founder and chairman of Oracle, has surpassed Jeff Bezos and Mark Zuckerberg to claim the title of the world’s second-richest person, according to Forbes. Ellison’s net worth skyrocketed by $26 billion to $243 billion on Thursday, the largest single-day gain ever recorded for a billionaire. This surge propelled him past Amazon Chairman Bezos ($227 billion) and Meta CEO Zuckerberg ($239 billion), placing him just behind Tesla CEO Elon Musk in Forbes’ global wealth rankings.
Oracle Earnings Drive Massive Stock Rally
The dramatic wealth jump came on the heels of Oracle’s strong fiscal earnings report released Wednesday. The company’s shares surged more than 13% to $199.86 on Thursday after reporting better-than-expected profits and sales for the quarter ending in May. The results highlighted the tech giant’s growing momentum in cloud computing and artificial intelligence.
Analysts Praise Ellison’s Leadership in Cloud Transformation
Deutsche Bank analyst Brad Zelnick called the earnings update a “watershed moment” for Oracle, emphasizing Ellison’s vision in guiding the company’s new era of cloud computing. “Ellison’s strategic focus on AI-integrated cloud services is positioning Oracle as a key player in the AI technology revolution,” Zelnick said. TD Cowen analyst Derek Wood predicts Oracle’s fiscal year 2026, which begins this month, will mark a “major inflection point” for its core cloud infrastructure services, driven by surging demand for AI training workloads.
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