Larry Ellison has become the world’s second-richest person for the first time, according to the latest Bloomberg Billionaires Index. His net worth has skyrocketed to $251.2 billion, fueled by a major surge in Oracle Corp.’s share price. This leap places him ahead of Mark Zuckerberg and just behind Elon Musk, who retains the top position with a net worth of $357.8 billion.
Oracle has been a top beneficiary in the ongoing artificial intelligence investment wave. Since the public release of ChatGPT in November 2022, Oracle’s stock has almost tripled, driven by investor confidence in its role as a major AI infrastructure provider. In the last three months alone, Oracle shares have gained more than 90 percent, with a particularly steep rise noted since late April. The company has seen impressive revenue growth and signed strategic partnerships that have enhanced its position in the enterprise AI and cloud computing space.
Ellison’s fortune was further lifted after Oracle shares jumped 5.7 percent on Tuesday following reports that the US government would now allow American chipmakers like Nvidia and AMD to export certain semiconductor products to China. These exports were previously restricted under Biden-era trade limitations. This policy reversal helped elevate Oracle’s market value significantly, with the announcement indicating stronger demand across multiple sectors the company serves. With more than 80 percent of Ellison’s wealth held in Oracle stock and options, the market rally translated directly into personal gains.
Oracle’s recent contracts highlight its deepening role in AI and cloud infrastructure. The company has secured tens of billions of dollars in cloud service agreements and has unveiled plans to build gigawatt-scale data center capacity to serve enterprise clients. One notable client is OpenAI, which recently rented significant compute capacity from Oracle as part of a broader AI expansion initiative. Oracle also expanded its Stargate partnership with SoftBank to bolster its cloud offerings across global markets.
The company’s recent earnings report exceeded Wall Street expectations, with Chief Executive Officer Safra Catz expressing optimism for the future. She stated that Oracle’s performance in fiscal year 2026 will be even stronger, building on the momentum of rising demand in AI, cloud, and enterprise computing.
Ellison, now 80 years old, is actively exploring how to leverage his expanded fortune. In a recent post on social media, he revealed changes to his philanthropic commitments, announcing he would shift focus from the Giving Pledge to channel more resources into the Ellison Institute of Technology. This interdisciplinary institute, founded in 2023, collaborates with the University of Oxford and focuses on breakthrough innovations across fields like healthcare, agriculture, renewable energy, and artificial intelligence.
The surge in Ellison’s net worth mirrors broader trends among technology billionaires benefiting from the AI boom. Nvidia CEO Jensen Huang, for instance, recently overtook Warren Buffett to become the ninth-richest individual on Bloomberg’s wealth index. Nearly all of Huang’s wealth stems from his company’s stock, which has soared alongside rising demand for AI chips and servers.
As global investors continue to pour money into AI infrastructure, companies like Oracle that provide essential computing services are reaping immense rewards. Ellison’s rise to the second-richest spot underscores how deeply technology and innovation are tied to modern wealth creation. While Ellison has long been a prominent name in tech, this latest leap in fortune solidifies his status as a central figure in shaping the future of artificial intelligence and global enterprise computing.
