Oracle co-founder, CTO and executive chairman Larry Ellison (C), US President Donald Trump, Open CEO Sam Altman (R), and Softbank CEO Masayoshi’s son (2nd-R) share laughs Ellison using stools. Trump announced his investment in artificial intelligence (AI) infrastructure, questioning a variety of topics, including the January 6 defendant, the Ukrainian war, cryptocurrency and the presidential pardon for other topics.
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Larry Ellison was richer than $100 billion on Wednesday. Oraclethe software company he helped to launch in 1977, issued a dramatic cloud growth forecast for the next five fiscal years.
These forecasts showed Oracle’s shares rose nearly 36% on Wednesday, bringing the value of Ellison’s shares to $380 billion. The total brings Ellison closer to abdicated Elon Musk as the wealthiest individual in the world. Forbes said Musk, 54, the CEO of the automaker. Teslaworth more than $437 billion.
Bloomberg also holds tabs for the world’s wealthiest people, but on Wednesday, Ellison said he temporarily broke through masks with the billionaire index.
Ellison, 81, works for Oracle as Chief Technology Director and Chairman. Rather than gradually selling his position in a database software maker, he has maintained it and has held over 1.1 million shares for over 25 years. His apprentice Mark Benioff, who runs a sales management software company SalesforceI did the opposite, but now 60-year-old Benioff is worth around $10 billion. Musk’s Tesla share has risen thanks to a generous wage package, and his SpaceX Holding value has increased over the past decade.
In 2022, Ellison resigned from the Tesla committee almost four years later, but he has been busy ever since.
He focused on the healthcare industry with Oracle’s $28 billion acquisition of Cerner in 2022, and strengthened his philanthropy with the launch of Ellison University of Technology at Oxford University in December, completing the $8 billion Paramount Global Schemerge last month. Ellison has also become an arms dealer for artificial intelligence infrastructure. This makes ChatGPT providers Openai and Oracle the most important order.
On Tuesday, Oracle said its remaining performance obligation, a measure of contract revenue that is not yet recognized, is now $455 billion, up 359% from last year. Oracle also said cloud infrastructure revenues will jump from $10 billion in the most recent fiscal year to $144 billion in the fiscal year 2030.
“We got off to an incredible start to the year as Oracle has become a go-to place for AI workloads,” Oracle CEO Safra Cats said at the beginning of Oracle’s revenue call on Tuesday. “We have signed a critical cloud agreement with AI’s Who’s Who, including Openai and Xai. Meta, nvidia, AMD And many others. ”
Meanwhile, Oracle continues to grow by selling standard software.
“By the way, we’re much bigger Working days or ServiceNow. Ellison told analysts. I told an analyst. Celtanaw and Workday were worth a total of $256 billion at the end of Wednesday. Oracle’s market capitalization exceeded $920 billion. Only nine companies with the S&P 500 index are of value.
Ellison has long been a supporter of President Donald Trump, donating to his campaign and helping him raise external money. This relationship offers potential business benefits to Oracle co-founders.
Trump has delayed sales of Tiktok’s US business, and in January he said he would be open to selling the business to masks who previously worked in the administration or worked for Ellison.
Watch: Larry Ellison adds $10 billion to his net worth in 24 hours.
