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2w ago

Larry Ellison Overtakes Zuckerberg as World’s Second-Richest on Oracle’s AI Rally

He will refocus his Giving Pledge on the Ellison Institute of Technology after Oracle shares rose on eased U.S. chip-export rules

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, pushing him past Mark Zuckerberg on the Bloomberg Billionaires Index
  • Oracle’s stock has nearly tripled since late 2022 and gained over 90% since April amid strong AI demand
  • Shares jumped 5.7% on July 15 after the U.S. moved to ease semiconductor export restrictions to China
  • More than 80% of Ellison’s wealth is tied up in Oracle stock and options, with the company securing tens of billions in cloud contracts and supporting OpenAI through the Stargate initiative
  • He plans to concentrate his philanthropic resources at the Ellison Institute of Technology, partnering with Oxford on AI, health, agriculture and clean energy research