NEW YORK — Larry Ellison, billionaire co-founder and chairman of Oracle Corporation, is edging closer to Elon Musk in the global wealth rankings after a historic one-day gain in fortune.
Ellison’s net worth soared by an estimated $70 billion on Tuesday, following Oracle’s release of quarterly earnings that exceeded Wall Street expectations and projected strong momentum in its cloud infrastructure business.
The upbeat results triggered a dramatic rally in after-hours trading, with Oracle shares climbing more than 26 percent — the company’s largest single-day surge since 1999, at the height of the dot-com boom.
Market analysts credited Oracle’s performance to accelerating demand for cloud services, with new contracts in artificial intelligence and enterprise software strengthening investor confidence. Ellison, who holds a significant stake in the company he co-founded in 1977, benefited directly from the valuation spike.
According to Bloomberg Billionaires Index, the surge places Ellison within striking distance of Elon Musk, currently the world’s richest individual. Musk’s fortune has faced recent volatility amid Tesla’s share price decline and slowing electric vehicle demand.
The shift underscores the rising influence of cloud computing and AI infrastructure in shaping global wealth, with Oracle emerging as a formidable competitor to industry giants Amazon Web Services and Microsoft Azure.
Financial experts note that while billionaire rankings remain highly fluid, Ellison’s latest windfall marks one of the largest single-day wealth gains in history, reaffirming Oracle’s strategic pivot toward cloud technologies as a defining factor in its future growth.
Larry Ellison is truly one of the boldest tech visionaries 🚀. His journey from building Oracle into a global powerhouse to shaping the future of cloud computing shows relentless ambition 💡. A true example of risk-taking and innovation in business 🌍.
One of the most notable things about Charlie Kirk is his skill in connecting with audiences. His sharp debating style and strong opinions often go viral, bringing attention to issues that might otherwise be overlooked.