Larry Ellison becomes world's second-richest man, dethroning Jeff Bezos as Oracle stock surges

Larry Ellison briefly surpassed Jeff Bezos to become the second-richest person in the world due to a significant rise in Oracle's stock price038. Key factors include:

• Stock Surge: Oracle's shares surged by 7.8% to a record high, increasing the company's market capitalization to $480 billion3.
• Net Worth Increase: Ellison's net worth rose by $11 billion shortly after market open, reaching as high as $208.4 billion.
• Revenue Forecast: Oracle's optimistic revenue forecasts for fiscal years 2026 and 2029 bolstered investor confidence123.
• Forbes Ranking: This surge propelled Ellison past Bezos, whose net worth was $204 billion, making Ellison the second-richest person behind Elon Musk457.

Oracle is capitalizing on the AI boom in several key ways:

• Cloud Business Growth: Oracle Cloud, including SaaS and IaaS, is the primary growth driver, propelling the company's revenue467.
• AI-Related Deals: Significant AI-related contracts are accelerating revenue growth, particularly in the cloud segment68.
• Data Center Expansion: Rapid establishment of new data centers enhances Oracle Cloud Infrastructure (OCI) capabilities036.
• Strategic Partnerships: Collaborations with key AI players bolster Oracle's position in the market67.
• Financial Performance: Robust financial results and free cash flow generation support ongoing investments in AI and cloud technologies467.

These strategies have contributed to a notable rise in Oracle's stock, up around 30% year-to-date6.