Oracle Chief Technology Officer Larry Ellison (left) and Amazon founder and executive chairman Jeff Bezos.
Reuters
OracleStocks’ best week since 2021 boosts Chairman Larry Ellison’s net worth, briefly surpassing his Amazon Founder Jeff Bezos became the world’s second-richest person on Friday.
According to data, Ellison’s net worth reached $208.4 billion shortly after the market opened, before falling to $199 billion. Forbes real-time billionaire list. Bezos has held the title of second-richest person in the world on and off over the years, with a net worth of $205 billion. only Tesla CEO Elon Musk is worth $252 billion and currently ranks above him.
Database provider Oracle raised its revenue guidance for fiscal 2026 and issued an optimistic forecast for fiscal 2029, sending the company’s shares up 1.2% to $163.38 on Friday. Released forward-looking revenue data.
The stock rose 11% on Tuesday after the company reported quarterly results that beat expectations. Oracle’s stock price continues to hit new highs, with an increase of about 56% this year, second only to AI chip manufacturers NVIDIA (up 139%) ranks among the best among large-cap technology stocks.
Ellison, who co-founded Oracle in 1977, was the biggest beneficiary of the boom. He owns approximately 40% of the outstanding shares, making him the company’s largest shareholder. His company’s renaissance in recent years has been fueled by its growing presence in cloud infrastructure and the growing popularity of cloud-based databases.
Bezos, 60, and Ellison, 80, are vying for the title of the world’s second richest person three days after the two companies formed a new partnership. On Monday, Oracle said its database software will be available to AWS customers on Oracle hardware in Amazon data centers.
Last year, Oracle formed similar partnerships with: Microsoft and Googletwo other leading cloud infrastructure companies. Ellison told analysts on an earnings call this week that Oracle currently leads in both the cloud and traditional data centers.
“It’s very important that Oracle databases can run AWS, Microsoft and Google,” Allison said on the call. “It will absolutely accelerate the growth of databases in the public cloud. But we expect that the number of private clouds will greatly exceed Public cloud, because companies decided they didn’t want it – they wanted Oracle Cloud behind the firewall, in the data center, with no neighbors.”
—CNBC’s Jordan Novet and Ari Levy contributed reporting.
watch: Oracle has always been a ‘hidden story’
About The Author
