Oracle founder Larry Ellison is now within striking distance of becoming the richest person in the world after a staggering one-day gain tied to soaring investor confidence in the company’s artificial intelligence business.
Oracle’s stock jumped more than 28 percent in extended trading following its latest earnings report, which highlighted a record $455 billion in future contracts. Executives pointed to enterprise AI inferencing as a major driver of growth, with Ellison describing it as the foundation of Oracle’s long-term strategy.
The market reaction added an estimated $70 billion to Ellison’s fortune in just one day, lifting his net worth to around $364 billion. That puts him just behind Tesla and SpaceX chief Elon Musk, who is currently valued at about $384 billion.
Joe If the momentum continues, analysts say Ellison could soon overtake Musk at the top of the global wealth rankings - marking one of the most dramatic shifts among the world’s billionaire class.
LISTEN on the Audacy App
Tell your Smart Speaker to "PLAY 1080 KRLD"
Sign Up to receive our KRLD Insider Newsletter for more news
Follow us on Facebook | Twitter | Instagram | YouTube