Larry Ellison, co-founder, chairman, and chief technology officer of Oracle, has surged past Bill Gates on the Bloomberg Billionaire’s Index, thanks to Oracle’s remarkable stock performance. Ellison’s impressive wealth surge is directly attributed to his substantial ownership of Oracle, which accounts for the majority of his fortune.
Oracle’s recent earnings report, which showed strong financial results, sent its stock soaring over 10% for the week. This significant stock gain propelled Ellison’s net worth to $168 billion, surpassing Bill Gates’ $158 billion. The rise in Ellison’s wealth underscores the potential for substantial wealth accumulation through founder ownership in a successful company.
Ellison’s year-to-date wealth gains, totaling $45.1 billion, are among the largest among the world’s wealthiest individuals, trailing only Mark Zuckerberg (+$51.4 billion) and Jensen Huang (+$51.0 billion). Zuckerberg, currently ranked fourth on the list with $179 billion, might be the next target for Ellison to surpass. Huang, ranked 18th, continues to be one of the fastest-rising wealth accumulators.
Oracle’s stock has seen a remarkable 51% surge year-to-date, significantly outperforming Microsoft’s 14% gain. This demonstrates the significant impact of Oracle’s strong performance on Ellison’s wealth.
The substantial gains of both Ellison and Huang highlight the power of founder ownership and the significant wealth potential in the tech sector. While Gates holds a small stake in Microsoft, his portfolio is diversified with investments in other companies.
Oracle’s strong position in the AI space, combined with its recent successful partnerships, suggests that Ellison’s wealth could continue to climb. This underscores the growing importance of the AI sector and its impact on the world’s wealthiest individuals.
