Oracle Chief Technology Officer Larry Ellison (left) and Amazon founder and executive chairman Jeff Bezos.
Reuters
OracleStocks’ best week since 2021 bolsters chairman Larry Ellison’s net worth, briefly surpassing his Amazon Founder Jeff Bezos Became the world’s second-richest man on Friday.
According to data, Ellison’s net worth reached $208.4 billion shortly after the market opened, before falling to $199 billion. Forbes real-time billionaire list. Bezos has held the title of second-richest person in the world on and off over the years, with a net worth of $205 billion. only Tesla CEO MuskCurrently, its market capitalization is $252 billion, which is higher than his.
Shares of database provider Oracle rose 1.2% to $163.38 on Friday. bump into It guided for fiscal 2026 revenue and issued an optimistic forecast through fiscal 2029.
The company’s shares rose 11% on Tuesday Report quarterly results This exceeded expectations. Oracle’s stock price continues to hit new highs, up about 56% this year, second only to the artificial intelligence chip manufacturer NVIDIA — rose 139% among large-cap technology stocks.
Ellison, who co-founded Oracle in 1977, was the biggest beneficiary of the boom. He owns approximately 40% of the outstanding shares, making him the company’s largest shareholder. His company’s resurgence in recent years has been fueled by its growing presence in cloud infrastructure and the increasing popularity of cloud-based databases.
Bezos, 60, and Ellison, 80, are vying for the title of the world’s second-richest person three days after the two companies formed a new partnership. On Monday, Oracle said its database software will be available to AWS customers on Oracle hardware in Amazon data centers.
Over the past year, Oracle has formed similar partnerships with: Microsoft and Googletwo other leading cloud infrastructure companies. Ellison told analysts on an earnings call this week that Oracle currently leads in both the cloud and traditional data centers.
“It’s very important that Oracle databases can run AWS, Microsoft and Google,” Allison said on the call. “It will absolutely accelerate the growth of databases in the public cloud. But we expect that the number of private clouds will greatly exceed Public cloud, because companies decided they didn’t want it – they wanted Oracle Cloud behind the firewall, in the data center, with no neighbors.”
—CNBC’s Jordan Novet and Ari Levy contributed reporting.
