Today, Allison is one of the five richest people in the world in of the Forbes rating with a net worth of $157.3 billion.
According to the CNBCOracle founder Larry Ellison made $15 billion in profit on Tuesday after shares of his software company soared 12% to close at a record high of $127.54 per share over the past 2 years. The company has just reported third-quarter financial results that exceeded analysts’ expectations, with revenue in the cloud services and license support segment up 12%.
Ellison, who founded Oracle in 1977, remains the company’s largest shareholder with a stake valued at approximately $146 billion. He is currently ranked fifth in Forbes’ billionaire ranking — following Bernard Arnault, Elon Musk, Jeff Bezos, and Mark Zuckerberg.
Although Oracle was late to the cloud infrastructure game and was somewhat on the fringes of the AI boom, the company is now planning to expand, given the strong interest in the technology.
«We’re building an AI data center in the United States that will hold eight Boeing 747s,» said Ellison, who is still Oracle’s CTO, during the earnings call.
Last year, Oracle’s shares jumped 52%, increasing Ellison’s net worth by about $50 billion. By unlike Bezos, Larry is holding on to his shares. According to FactSet, he hasn’t sold any since 2016, and his last transaction was a purchase of 7000 shares in 2022.