How AI deal with OpenAI made Oracle's Larry Ellison superrich
Larry Ellison, the co-founder of Oracle, became the second richest person in the world this September with a net worth hitting $393 billion.
His fortune soared as Oracle's focus on artificial intelligence (AI) and cloud computing paid off big time—including a massive $300 billion deal with OpenAI set to kick off in 2027.
The result? Oracle's stock has nearly quadrupled over the past few years.
Ellison's diversified portfolio
Ellison started Oracle back in 1977 and still owns about 41% of it today.
The company isn't just sitting on past success: it has a contract backlog worth $455 billion, and its cloud business is expected to be 14 times bigger by 2030.
Beyond tech, Ellison holds more than $20 billion in Tesla shares and even owns Hawaii's Lana`i island—talk about diversified!
Impacts of AI and cloud tech on wealth creation
Ellison's rise shows just how much AI and cloud tech are shaking up who gets rich—and how fast things can change in today's economy.
If you're curious about how new tech is rewriting the rules for business (and fortunes), his story is one to watch.