Ellison, who owns about 40% of Oracle's shares, is currently considered the fifth richest person in the world. However, he still trails behind tech moguls like Mark Zuckerberg, Jeff Bezos, Elon Musk, and fashion entrepreneur Bernard Arnault. The rapid accumulation of wealth by these individuals is largely driven by the share prices of the companies they lead, leading some to liken AI to a 21st-century gold rush.
Key takeaways:
- Larry Ellison's personal wealth increased by more than $15 billion following a 12 percent rally of Oracle's stock due to news of building an AI datacenter and a deal with Nvidia.
- Ellison owns approximately 40 percent of Oracle's shares, and the increase in stock price to over $127 per unit significantly impacted his fortune, now estimated to be around $146 billion.
- Despite Oracle's Q3 revenues finishing below analysts' expectations, the announcement of the corporation's AI proposals was enough to excite Wall Street.
- Ellison is currently around the fifth richest man in the world, behind tech tycoons Mark Zuckerberg, Jeff Bezos, Elon Musk, and fashion brand entrepreneur Bernard Arnault.