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5d ago

Larry Ellison Overtakes Mark Zuckerberg as World’s Second-Richest Person on Oracle’s Stock Surge

Eased chip export rules fueling AI cloud contracts pushed Oracle’s shares up, vaulting Ellison to number two on Bloomberg’s billionaire index.

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 net worth climbed to $251.2 billion on July 16, positioning him just behind Elon Musk and above Mark Zuckerberg on Bloomberg’s real-time wealth ranking.
  • Oracle shares surged 5.7% on July 15 after the U.S. announced it would ease semiconductor export restrictions to China, benefiting AI infrastructure providers.
  • The company’s stock has nearly tripled since November 2022 and rallied over 90% since late April amid booming revenues, key partnerships and multibillion-dollar cloud deals under the Stargate initiative.
  • More than 80% of Ellison’s fortune is held in Oracle stock and options as the firm secures tens of billions in cloud computing contracts and scales gigawatts of data-centre capacity for clients like OpenAI.
  • On July 15, Ellison announced he will amend his Giving Pledge to concentrate resources on the Ellison Institute of Technology, founded in 2023 with Oxford University to advance health, agriculture, clean energy and AI research.