Larry Ellison Becomes World’s 3rd Richest Billionaire, Surpassing Mark Zuckerberg and Bernard Arnault as Oracle Shares Hit Record High

Tech billionaire Larry Ellison’s fortune surged on Tuesday after shares of Oracle, his cloud computing company, reached an all-time high. By midday, Ellison’s net worth had jumped by $18 billion, climbing from $173.3 billion to $191.7 billion. This leap vaulted him past Facebook co-founder Mark Zuckerberg ($174 billion) and Europe’s wealthiest man, Bernard Arnault ($172 billion), making Ellison the third richest person in the world.

Ellison, who holds a roughly 40% stake in Oracle, is now only behind Tesla CEO Elon Musk ($247 billion) and Amazon chairman Jeff Bezos ($197 billion) on the list of the wealthiest individuals globally.

Oracle’s stock rose by as much as 14.7%, reaching $160.50 per share, breaking its previous high of $146.59 set in July. The stock surge followed Oracle’s quarterly earnings report released Monday, which comfortably exceeded Wall Street expectations for both revenue and profits. Bernstein analyst Mark Moerdler described the news as “all good” for the company.

Oracle’s market capitalization jumped from $386 billion to $435 billion, pushing it ahead of companies like Costco, Johnson & Johnson, and Procter & Gamble, making it the 17th-largest U.S. public company, according to FactSet.

Additionally, Oracle announced a partnership with Amazon Web Services (AWS), allowing AWS customers to integrate Oracle’s artificial intelligence applications into the Amazon cloud. This collaboration completes what Deutsche Bank analyst Brad Zelnick called Oracle’s “triple crown” of cloud partnerships, with similar deals already in place with Google and Microsoft.

Ellison, who co-founded Oracle in 1977 and now serves as Chairman and Head of Technology, has a wide range of business interests. He was previously on Tesla’s board of directors and is poised to become the controlling shareholder of Paramount, the parent company of CBS. Additionally, Ellison is a prominent donor to Republican causes, including significant financial backing for Senator Tim Scott’s (R-S.C.) presidential campaign.

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