Oracle Chairman and Co-Founder Larry Ellison speaks at the Oracle OpenWorld 2017 conference in San Francisco on October 1, 2017.
David Paul Morris | David Paul Morris Bloomberg | Getty Images
Oracle Shares of the company soared more than 6% on Monday, extending recent gains and pushing Chairman Larry Ellison past the title to become the world’s second-richest man. Amazon Founder Jeff Bezos.
According to data, Ellison’s net worth has jumped $11.7 billion to $209 billion since Friday’s close. Forbes real-time billionaire list. Bezos has been the second-richest person since 2016, with a net worth of $202 billion. Tesla Chief Executive Elon Musk tops the list with a net worth of $251 billion.
Oracle shares climb to new highs Report earnings Exceeded expectations last week enhanced Its fiscal 2026 revenue forecast. Stock price surges causing allison to briefly pass Bezos became the world’s second-richest man on Friday, before the Amazon founder reclaimed the title.
Oracle shares are up 23% this month. If the rally stops here, it would be the best month since October 2022, when the stock soared 28%, and the second-best month since October 2002, nearly two decades ago.
Oracle stock’s success can be attributed in part to the company’s AI Prosperity. Ellison, who founded Oracle in 1977, talked during the company’s earnings call last week about how the company is building data centers to meet growing demand for generating artificial intelligence.
“We’re actually building the smallest, most portable, most affordable cloud data centers, all the way up to 200-megawatt data centers, perfect for training very large language models and keeping them up to date,” Ellison said on the call.
Oracle said last week it would work with Amazon’s cloud computing unit to enable its database services on specialized hardware. Over the past year, it has established similar partnerships with: Microsoft and Googletwo other leading cloud infrastructure companies.
— CNBC’s Jordan Novet and Ari Levy contributed to this report.
