Larry Ellison Surges Past Zuckerberg as Oracle Stock Hits Record High

On September 10, 2024, Larry Ellison's wealth surged by approximately $18 billion due to a significant increase in Oracle's stock price, which reached an all-time high of $160.50 per share. This rise in stock value elevated Ellison's net worth from $173.3 billion to $191.2 billion, placing him third on Forbes' billionaires list, surpassing Mark Zuckerberg and Bernard Arnault. The stock's performance was attributed to Oracle's strong earnings report and a growing market capitalization that climbed to about $435 billion. The surge in Oracle's stock was further bolstered by the announcement of a new partnership with Amazon Web Services, allowing AWS customers to utilize Oracle's artificial intelligence applications. This partnership is part of Oracle's strategy to strengthen its position in the cloud computing market, complementing previous collaborations with Google and Microsoft. Analysts view this as a significant move that enhances Oracle's competitive edge in the industry. As a result of these developments, Oracle has now become the 17th-largest American public company, surpassing well-known firms like Costco and Johnson & Johnson. The increase in market capitalization reflects investor confidence in Oracle's growth potential and its strategic partnerships, which are expected to drive future revenue. Ellison, who is also a prominent political donor, continues to expand his influence in the tech industry. His recent financial gains and Oracle's market performance highlight the dynamic nature of the technology sector and the impact of strategic business decisions on individual wealth and company valuation.