Larry Ellison surpasses Elon Musk as the world’s richest person after Oracle’s AI-driven stock surge. With $230B fortune, Ellison’s rise highlights his ties to Trump and Musk, and his legacy as a bold tech leader and sailing enthusiast.
Washington DC (US): Oracle Corporation co-founder and chairman Larry Ellison has surged past Tesla and X Ceo Elon Musk to become the world’s richest person, fueled by a dramatic rally in Oracle’s stock. Shares of the software giant had jumped nearly 40% to $337.02 in early Wednesday trading after the company projected massive revenue growth tied to artificial intelligence contracts. Oracle CEO Safra Catz described the quarter as “astonishing,” noting that the company signed four multi-billion-dollar deals with three different customers. The surge lifted Oracle’s market valuation to around $950 billion, significantly boosting Ellison’s wealth.
Oracle’s stock jumped sharply, helping push the S&P 500 to a record high, showing that investors are excited about the company’s growth in artificial intelligence. Oracle expects its cloud business to earn $18 billion this year, and it could grow even more in the coming years. CEO Safra Catz said the company plans to sign more big contracts soon. The stock market is also reacting to expectations that the Federal Reserve might cut interest rates next week because the US job market is showing signs of slowing down. AI investments are playing a big role in the strong market this year. Larry Ellison’s rise to become the world’s richest person highlights the growing value of AI-focused tech companies and his strong leadership at Oracle.
Larry Ellison’s Relationship with Donald Trump and Elon Musk
Larry Ellison first rose to prominence in the 1990s, before the internet fully transformed the world. Known for his love of sports, especially tennis and sailing, and for his public feuds with tech rivals like Bill Gates, Ellison has remained a prominent figure in technology and business. Unlike many tech leaders who distanced themselves from Donald Trump in 2016, Ellison openly supported him. Today, with an estimated fortune of $230 billion, Ellison ranks among the world’s richest individuals, trailing only Elon Musk and Jeff Bezos, but ahead of Mark Zuckerberg.
On Trump’s first full day in office, Ellison made a surprise visit to the White House to unveil an AI infrastructure project alongside OpenAI’s Sam Altman and SoftBank’s Masayoshi Son. “He’s sort of CEO of everything. He’s an amazing man,” Trump said while introducing Ellison. Speaking after the meeting, Ellison highlighted the scale of the project: “The data center we already built was the largest computer ever built. The data center we’re building will surpass it.”
Ellison’s ties to the Trump administration go back to the first term, when he played a key role in negotiations over TikTok’s US operations. Oracle became the trusted provider of TikTok’s data storage in the United States, helping keep the app accessible to US users despite potential legal challenges. Oracle is frequently mentioned as a potential buyer of TikTok’s US operations, which were recently given 75 days to shift to non-Chinese ownership. Following the AI announcement, Oracle’s shares rose more than seven percent.
Ellison built his fortune through Oracle, founded in 1977 as a provider of data servers for clients including the CIA. Early on, the company competed with Microsoft, IBM, and Sun Microsystems to supply data infrastructure for the growing digital economy. Under Ellison’s leadership, Oracle became known for its aggressive corporate culture and ambitious acquisition strategy, becoming the world’s largest database management company.
Though Oracle’s market value is smaller than giants like Google, Microsoft, Apple, and Amazon, the company has experienced renewed growth amid the AI boom and rising demand for data servers. At the height of his career, Ellison was known for his bold, confrontational style, taking on tech heavyweights like Gates and Google’s Eric Schmidt, while forming strong alliances with figures like Steve Jobs.
Ellison’s personal story is remarkable. Raised on Chicago’s South Side by his great-aunt and an uncle struggling with alcoholism, he was given up by his teenage mother at birth in 1944. Known for his athletic build and signature tan, Ellison invested heavily in sailing, with his Oracle team winning the America’s Cup in 2010 and 2013. In recent years, Ellison has forged ties with Elon Musk, investing $1 billion in Musk’s acquisition of Twitter and serving as a major shareholder on Tesla’s board. His real estate holdings include a $300 million Hawaiian island, which he plans to develop as a luxury eco-resort visited by Musk and other elite figures.
(With agency inputs)