Larry Ellison, the founder and chairman of Oracle, experienced a significant boost in his wealth recently as shares of the software company saw a record-breaking day. Ellison, who started Oracle in 1977, is now the fifth-wealthiest person in the world with a stake valued at roughly $146 billion. The surge in Oracle’s stock price came after the company reported better-than-expected earnings for the third quarter, particularly in the cloud services and licenses support segment.
While Oracle was initially slow to adopt cloud infrastructure and artificial intelligence technologies, the increasing demand for its AI capabilities has propelled the company’s growth. Ellison highlighted Oracle’s expansion in the AI market, pointing to the construction of a massive AI data center in the United States.
Over the past year, Oracle’s stock has soared by 52%, boosting Ellison’s net worth by approximately $50 billion. This outperformance has outpaced the S&P 500, which has gained 34% in the same period. Unlike Jeff Bezos, who has been selling off Amazon shares, Ellison has held onto all of his Oracle stock. His last transaction was a purchase of 7,000 shares in 2022, and he has not sold any shares since 2016.
In my opinion, Ellison’s strategy of holding onto his stock demonstrates his confidence in Oracle’s future growth potential. The company’s success in the AI market and its strong financial performance indicate that Ellison’s leadership and vision are paying off. This latest milestone further solidifies Oracle’s position as a major player in the technology industry, and Ellison’s continued involvement as the company’s chief technology officer bodes well for its future success.