Science
Oracle Stock Surge Propels Larry Ellison Ahead Of Bezos And Zuckerberg In Wealth Race
Elon Musk’s pal has surpassed Mark Zuckerberg and Jeff Bezos to become the second richest person in the world.
The second richest person in the world is the co-founder of Oracle, a global computer technology firm based in the United States.
In recent days, Larry Ellison has witnessed his company’s stock value rise. Oracle’s stock increased 13% on Thursday, June 12, and then another 7% on Friday, June 13, reaching a record-breaking $215 a share.
According to Forbes, Ellison’s personal wealth has increased by more than $40 billion as a result of this.
The software tycoon currently has a net worth of $254.6 billion as of this writing (June 17), according to the outlet’s billionaire list.
At a staggering $412.9 billion, Ellison’s long-time friend Musk is the only person on the planet who is currently wealthier than Ellison.
Why is Oracle stock seeing a rise?
Oracle’s large surge can be attributed to an earnings report that was released last Wednesday, June 11.
According to the study, the company’s profits for the most recent quarter were higher than anticipated.
Deutsche Bank analyst Brad Zelnick said, “When Larry Ellison speaks of entering a new era of cloud computing, all should pay careful attention.”
In the filing of the earnings report, Safra Catz, the CEO of Oracle, said, “FY25 was a very good year—but we believe FY26 will be even better as our revenue growth rates will be dramatically higher.”
“We expect our total cloud growth rate—applications plus infrastructure—will increase from 24% in FY25 to over 40% in FY26. Cloud Infrastructure growth rate is expected to increase from 50% in FY25 to over 70% in FY26. And RPO is likely to grow more than 100% in FY26.”
“Oracle is well on its way to being not only the world’s largest cloud application company—but also one of the world’s largest cloud infrastructure companies.”
Ellison also commented on the results, sharing: “MultiCloud database revenue from Amazon, Google and Azure grew 115% from Q3 to Q4.”
“We currently have 23 MultiCloud data centers live with 47 more being built over the next 12 months.”
He added: “Overall Oracle Cloud Infrastructure consumption revenue grew 62% in Q4. We expect OCI consumption revenue to grow even faster in FY26. OCI revenue growth rates are skyrocketing—so is demand.”
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