Larry Ellison’s fortune jumped by more than $110 billion in just one day after Oracle announced bold cloud growth projections.
The company, where Ellison serves as chairman and CTO, said cloud infrastructure revenue could grow 14x over the next five years, sending Oracle’s stock price soaring over 40% on Wednesday.
Ellison’s net worth is now estimated at $391 billion, putting him within striking distance of Elon Musk, who remains the world’s richest person at $436 billion.
Oracle’s announcement highlighted its position as a key player in the AI infrastructure race.
The company reported $455 billion in contracted revenue, up 359% from last year, and expects cloud sales to reach $144 billion by fiscal 2030.
Ellison emphasized strong partnerships with top AI companies, including OpenAI, Meta, Nvidia, AMD, and xAI.
With Oracle’s market cap surpassing $950 billion, Ellison’s influence in tech and AI continues to expand, bolstered by his investments in healthcare, philanthropy, and even the recent Paramount Global-Skydance merger.
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