Oracle had its best week in the stock market since 2021, which increased Chairman Larry Ellison’s net worth. For a short time on Friday, he became the world’s second-richest person, passing Amazon founder Jeff Bezos.
Ellison’s net worth hit $208.4 billion shortly after the market opened but later dropped to $197 billion, according to Forbes’ real-time billionaire rankings. Bezos, who has been the second-richest person on and off over the years, is worth $204 billion. The only person richer than them is Tesla CEO Elon Musk, with a net worth of $252 billion.
Oracle’s Stock Rises as It Partners with Major Tech Companies
Oracle shares ended slightly higher at $162.03 on Friday after the company raised its revenue forecast for 2026 and gave an optimistic outlook up to 2029. These predictions were shared at their annual CloudWorld conference in Las Vegas.
On Tuesday, the stock jumped 11% after Oracle’s quarterly results beat expectations. Oracle shares have been hitting new highs and are now up about 54% this year, second only to AI chipmaker Nvidia, which is up 141%, among large tech companies.
Ellison, who co-founded Oracle in 1977, has benefited the most from the company’s success. He owns about 40% of the stock, making him the largest shareholder. Oracle’s recent growth has been driven by its stronger position in cloud infrastructure and the increased use of its cloud databases.
Bezos, 60, and Ellison, 80, are competing for the title of the world’s second-richest person just three days after their companies formed a new partnership. On Monday, Oracle announced that its database software will now be available for AWS customers to use with Oracle hardware in Amazon data centers.
In the past year, Oracle has made similar partnerships with Microsoft and Google, the other top cloud infrastructure companies. During this week’s earnings call, Ellison told analysts that Oracle is now in a strong position both in the cloud and in traditional data centers.
Conclusion
Oracle’s strong stock performance and new deals with big tech companies have greatly increased Larry Ellison’s wealth. Although he briefly surpassed Jeff Bezos as the second-richest person, he now ranks just behind. With its growing cloud services, Oracle looks set to keep doing well.
