The Entrepreneurs Weekly
No Result
View All Result
Saturday, August 9, 2025
  • Login
  • Home
  • BUSINESS
  • POLITICS
  • ENTREPRENEURSHIP
  • ENTERTAINMENT
Subscribe
The Entrepreneurs Weekly
  • Home
  • BUSINESS
  • POLITICS
  • ENTREPRENEURSHIP
  • ENTERTAINMENT
No Result
View All Result
The Entrepreneurs Weekly
No Result
View All Result
Home Business

Oracle CTO Larry Ellison Is Now the Second-Richest Person | Entrepreneur

by Brand Post
July 16, 2025
in Business
0
Oracle CTO Larry Ellison Is Now the Second-Richest Person | Entrepreneur
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter


Larry Ellison, the 80-year-old founder and chief technology officer of software giant Oracle, is now the world’s second-wealthiest person.

For the first time, Ellison has overtaken Meta CEO Mark Zuckerberg, 41, on the Bloomberg Billionaires Index to claim the No. 2 spot. According to a Bloomberg report from late Tuesday, Ellison’s net worth is now $251.2 billion, higher than Zuckerberg’s $251 billion but less than Elon Musk’s $358 billion.

Since ChatGPT’s release in late 2022, Oracle has experienced significant growth among enterprise customers, who are eager to tap into the company’s cloud services for AI computing.

As Oracle’s largest shareholder, with a stake of about 40% in the software company that comprises more than 80% of his wealth, Ellison has seen his fortune grow as Oracle’s stock has skyrocketed due to the AI boom. According to The Wall Street Journal, Oracle’s stock price has doubled over the past two years, pushing the company’s market value to around $650 billion.

Related: Nvidia Pulls Ahead of Apple and Microsoft to Become the World’s First $4 Trillion Public Company

A lot of that growth has been concentrated in recent gains. Oracle’s shares have gained more than 90% since late April alone, per Bloomberg. Ellison, who founded Oracle in 1977 and served as CEO until 2014, has seen that growth reflected in his net worth.

Oracle founder Larry Ellison. Photo by Andrew Harnik/Getty Images

Oracle’s most recent earnings report, released last month, tells the story of a growing giant. The company’s quarterly revenues were up 11% year-over-year to reach $15.9 billion, driven by a 14% increase in cloud services revenue.

Oracle CEO Safra Catz predicted in the report that revenue growth rates would be “dramatically higher” in the year ahead as the company experiences growth in its cloud business.

Related: Amazon Cloud CEO Predicts a Future Where Most Software Engineers Don’t Code — and AI Does It Instead

Oracle is competing against other cloud providers like Microsoft Azure, Amazon Web Services, and Google Cloud, which also offer cloud storage and computing services for businesses.

According to Synergy Research Group, Oracle captured 3% of the global cloud infrastructure market in the first quarter of the year, compared to the 63% captured collectively by Amazon Web Services, Google Cloud, and Microsoft Azure. It was the fifth-largest cloud provider by market share.

Oracle has recently announced a number of AI deals. Earlier this week, the company said it would invest $3 billion to expand its AI and cloud infrastructure in Germany and the Netherlands. Last month, Oracle inked a $30 billion annual cloud deal with OpenAI to provide the ChatGPT-maker with cloud computing power to support a growing number of AI users.

Oracle is now the 16th most valuable company in the world by market capitalization.

Join top CEOs, founders and operators at the Level Up conference to unlock strategies for scaling your business, boosting revenue and building sustainable success.

Larry Ellison, the 80-year-old founder and chief technology officer of software giant Oracle, is now the world’s second-wealthiest person.

For the first time, Ellison has overtaken Meta CEO Mark Zuckerberg, 41, on the Bloomberg Billionaires Index to claim the No. 2 spot. According to a Bloomberg report from late Tuesday, Ellison’s net worth is now $251.2 billion, higher than Zuckerberg’s $251 billion but less than Elon Musk’s $358 billion.

Since ChatGPT’s release in late 2022, Oracle has experienced significant growth among enterprise customers, who are eager to tap into the company’s cloud services for AI computing.

The rest of this article is locked.

Join Entrepreneur+ today for access.



Source link

Tags: Business NewsCEOschief technology officerCTOEllisonentrepreneurLarrylarry ellisonMoneyNews and TrendsoraclePersonRichest PeopleScience & TechnologySecondRichestwealth

Related Posts

Power and Portability Meet In This Near-Mint 13″ MacBook Pro | Entrepreneur
Business

Power and Portability Meet In This Near-Mint 13″ MacBook Pro | Entrepreneur

August 9, 2025
How to Run Multiple Businesses — From a CEO Who’s Doing It | Entrepreneur
Business

How to Run Multiple Businesses — From a CEO Who’s Doing It | Entrepreneur

August 9, 2025
5 Trading Secrets That Could Mean Retiring 30 Years Early | Entrepreneur
Business

5 Trading Secrets That Could Mean Retiring 30 Years Early | Entrepreneur

August 9, 2025
  • Trending
  • Comments
  • Latest
Meet Amir Kenzo: A Well Known Musical Artist From Iran.

Meet Amir Kenzo: A Well Known Musical Artist From Iran.

August 21, 2022
Behind the Glamour: Bella Davis Opens Up About Overcoming Adversity in Modeling

Behind the Glamour: Bella Davis Opens Up About Overcoming Adversity in Modeling

April 20, 2024
Dr. Donya Ball: Pioneering Leadership Solutions for Tomorrow’s Challenges

Dr. Donya Ball: Pioneering Leadership Solutions for Tomorrow’s Challenges

May 10, 2024
Nasiyr Bey’s Journey from Brooklyn to Charlotte: The Entrepreneurial Path to Owning a Successful Cigar Lounge

Nasiyr Bey’s Journey from Brooklyn to Charlotte: The Entrepreneurial Path to Owning a Successful Cigar Lounge

August 8, 2024
Augmented.City Startup Developers Appeal To US Politicians With An Open Letter

Augmented.City Startup Developers Appeal To US Politicians With An Open Letter

0
U.S. High Court Snubs Challenge To State And Local Tax Deduction Cap

U.S. High Court Snubs Challenge To State And Local Tax Deduction Cap

0
GOP Lawmaker Blames Biden For Russia-Ukraine War: Putin ‘Could never have Invaded’

GOP Lawmaker Blames Biden For Russia-Ukraine War: Putin ‘Could never have Invaded’

0
Brad Winget’s Tips and Tricks on Having a Career in Real Estate

Brad Winget’s Tips and Tricks on Having a Career in Real Estate

0
Power and Portability Meet In This Near-Mint 13″ MacBook Pro | Entrepreneur

Power and Portability Meet In This Near-Mint 13″ MacBook Pro | Entrepreneur

August 9, 2025
How to Run Multiple Businesses — From a CEO Who’s Doing It | Entrepreneur

How to Run Multiple Businesses — From a CEO Who’s Doing It | Entrepreneur

August 9, 2025
5 Trading Secrets That Could Mean Retiring 30 Years Early | Entrepreneur

5 Trading Secrets That Could Mean Retiring 30 Years Early | Entrepreneur

August 9, 2025
I Asked ChatGPT’s New Agent What to Post Next — It Got 50,000 Views in 48 Hours | Entrepreneur

I Asked ChatGPT’s New Agent What to Post Next — It Got 50,000 Views in 48 Hours | Entrepreneur

August 9, 2025

The EW prides itself on assembling a proficient and dedicated team comprising seasoned journalists and editors. This collective commitment drives us to provide our esteemed readership with nothing short of the most comprehensive, accurate, and captivating news coverage available.

Transcending the bounds of Chicago to encompass a broader scope, we ensure that our audience remains well-informed and engaged with the latest developments, both locally and beyond.

NEWS

  • Business
  • Politics
  • Entrepreneurship
  • Entertainment
Instagram Facebook

© 2024 Entrepreneurs Weekly.  All Rights Reserved.

  • About Us
  • Advertise
  • Contact Us
No Result
View All Result
  • ENTREPRENEURSHIP
  • ENTERTAINMENT
  • POLITICS
  • BUSINESS
  • CONTACT US
  • ADVERTISEMENT

Copyright © 2024 - The Entrepreneurs Weekly

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In