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4w ago

Larry Ellison Becomes World’s Second-Richest at $258.8 Billion as Oracle Shares Hit $200

Oracle’s quarterly results beat forecasts with $1.70 adjusted earnings per share on $15.9 billion revenue fueled by booming AI demand and cloud computing

Larry Ellison I Oracle | Image: YouTube Screengrab
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Overview

  • Ellison’s net worth reached $258.8 billion on June 15, moving him past Jeff Bezos and Mark Zuckerberg to second place behind Elon Musk in Forbes’ real-time billionaire rankings.
  • Oracle shares closed at a record $200 per share following the earnings report.
  • The company reported adjusted earnings of $1.70 per share on $15.9 billion revenue for the quarter ended June 12.
  • A $26 billion single-day gain on June 12 reflected investor confidence in Oracle’s long-term AI and cloud computing prospects.
  • Ellison partnered with SoftBank and OpenAI on Project Stargate aimed at advancing U.S. AI infrastructure.