Larry Ellison briefly becomes world’s second-richest after Oracle Rally

Larry Ellison's net worth surged by $11 billion shortly after the market opened, reaching a peak of $208.4 billion, marking the largest daily increase for any billionaire. This remarkable rise allowed him to surpass Jeff Bezos, who was valued at $206 billion at the time, positioning Ellison as the second-richest individual globally, trailing only Elon Musk, whose net worth stood at $253 billion. However, as trading progressed, Oracle's stock gains diminished, and Ellison's net worth settled around $202 billion by the time of publication. The significant increase in Ellison's wealth was primarily driven by Oracle's strong earnings report and optimistic guidance, which contributed to a rally in the company's stock. Additionally, Oracle announced a partnership with Amazon Web Services, completing a series of strategic collaborations with major tech companies like Google and Microsoft. This partnership is seen as a pivotal moment for Oracle, enhancing its market position and investor confidence. Ellison, who owns approximately 40% of Oracle, has seen his fortune fluctuate dramatically in recent days. At the end of the previous week, his net worth was $172.7 billion, placing him fifth on Forbes' billionaire list, behind notable figures such as Mark Zuckerberg and Bernard Arnault. The recent stock performance has not only elevated his financial standing but also solidified his influence in the tech industry. As a prominent Republican donor and soon-to-be controlling shareholder of CBS parent Paramount, Ellison's financial maneuvers and business decisions continue to attract attention. His recent rise in wealth underscores the volatile nature of the stock market and the impact of corporate performance on individual fortunes.