Larry Ellison, Chairman and Chief Technology Officer (CTO) of Oracle, has surpassed Mark Zuckerberg, CEO of Meta, to become the second-richest person in the world.
According to the Bloomberg Billionaires Index on July 15 (local time), Ellison's net worth increased to $251.2 billion (348.4395 trillion won) as Oracle's stock price soared.
On this day, Oracle's stock price rose by 2.48% from the previous day to $234.96, following news that the U.S. government would ease semiconductor export restrictions to China and allow companies such as Nvidia and AMD to export to the country. More than 80% of Ellison's wealth is composed of Oracle shares and options.
Oracle, a software company, is considered one of the main beneficiaries of the artificial intelligence (AI) boom. Since the release of ChatGPT in November 2022, Oracle's stock price has roughly tripled. In particular, over the past three months, the company's revenue has surged and it has signed major partnerships, resulting in a more than 90% increase in its stock price since the end of April. Safra Catz, CEO of Oracle, projected that the company's performance in the 2026 fiscal year would be even more positive. Oracle is also a beneficiary of the 'Stargate' project, a massive AI infrastructure initiative valued at $500 billion.
Meanwhile, Jensen Huang, CEO of Nvidia, has also seen his wealth surge recently as his company's stock price soared. On July 11, Huang surpassed Warren Buffett, Chairman of Berkshire Hathaway, to become the ninth-richest person in the world according to the Bloomberg Billionaires Index. The majority of Huang's wealth is in Nvidia stock, and as of this day, his net worth stands at $149 billion. The richest person in the world is Elon Musk, CEO of Tesla, whose net worth as of this day is $358 billion.
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