Ellison is now one of the five richest people in the world according to Forbes with a fortune of $157.3 billion.
Oracle founder Larry Ellison made a $15 billion profit Tuesday after his software company's shares soared 12% to close at a two-year high of $127.54 per share, CNBC reported. The company just reported third-quarter financials that beat analysts' expectations, with cloud and license revenue up 12%.
Ellison, who founded Oracle in 1977, remains the company's largest shareholder with a stake valued at about $146 billion. He now ranks fifth on Forbes' list of billionaires, behind Bernard Arnault, Elon Musk, Jeff Bezos and Mark Zuckerberg.
Although Oracle was a latecomer to cloud infrastructure and was somewhat on the sidelines during the AI boom, the company is now planning expansion given the strong interest in the technology.
“We're building an AI data center in the U.S. that can fit eight Boeing 747s,” Ellison, who still works as Oracle's chief technology officer, said during the earnings call.
Oracle shares jumped 52% last year, increasing Ellison's wealth by about $50 billion. Unlike Bezos, Larry is holding on to his shares—he hasn't sold any since 2016, according to FactSet, and his last transaction was a purchase of 7,000 shares. in 2022.
The competition for ITS authors continues. Write an article about the development of games, gaming and gaming devices and win a professional gaming wheel Logitech G923 Racing Wheel, or one of the low-profile gaming keyboards Logitech G815 LIGHTSYNC RGB Mechanical Gaming Keyboard!