Larry Ellison is closing in on Elon Musk’s crown as the world’s richest man, after a blistering rally in Oracle’s stock added nearly $100 billion to the co-founder’s wealth this year.
Ellison’s net worth has jumped to $392.6 billion, driven largely by his 41 per cent stake in Oracle, according to Forbes. That puts him within striking distance of Tesla CEO Musk, whose fortune stands at $439.9 billion.
The windfall comes as Oracle’s market value hit a record $933 billion on Wednesday, after shares surged nearly 36 per cent in a single session on the back of soaring demand for its AI cloud services. The stock rose another 1.5 per cent in premarket trading on Thursday.
Oracle’s rapid ascent has been driven by multi-billion-dollar cloud contracts, including a $300 billion computing power deal with OpenAI, as reported by The Wall Street
Journal.
Investors see the pipeline as evidence of massive AI-driven growth, sending Oracle’s valuation soaring and putting Ellison’s wealth trajectory in sharp focus.
The company’s stock has nearly doubled in 2025, making it one of the S&P 500’s top performers and outpacing the so-called Magnificent Seven. Oracle shares now trade at a 12-month forward price-to-earnings multiple of 45.3, far richer than Amazon’s 31.3 and Microsoft’s 31.