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yesterday

Larry Ellison Becomes Second-Richest on AI-Fueled Oracle Rally

Oracle’s share price surge following eased US chip-export restrictions lifted Ellison’s net worth to $251.2 billion.

Oracle co-founder, CTO and Executive Chairman Larry Ellison, is now the world's second-richest person according to Bloomberg.
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Ellison's wealth rise is linked to Oracle's stock performance, which has tripled since the ChatGPT launch, aided by new semiconductor export policies.
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Overview

  • Ellison’s wealth surpassed Mark Zuckerberg’s on July 16, marking his first appearance as the world’s second-richest person on Bloomberg’s index.
  • More than 80% of Ellison’s $251.2 billion fortune is tied up in Oracle shares and options, reflecting his roughly 40% ownership stake.
  • Oracle stock has nearly tripled since ChatGPT’s November 2022 debut and jumped over 90% since late April, including a 5.7% gain on July 15 after Washington loosened chip-export rules.
  • The company has secured tens of billions in AI-driven cloud contracts and is building gigawatts of data-center capacity for clients like OpenAI under its Stargate initiative.
  • On July 15, Ellison announced he will amend his Giving Pledge to concentrate his philanthropic resources on the Ellison Institute of Technology, partnered with Oxford.