Oracle's Larry Ellison gains $88B in 1 day, becomes richest
Larry Ellison, Oracle's co-founder, just had a wild day—his net worth soared by $88.5 billion in 24 hours, briefly making him the richest person in the world ahead of Elon Musk.
This historic leap came after Oracle's stock surged as much as 43% intraday before closing 36% higher in a single day, thanks to upbeat predictions for cloud revenue and some huge new AI deals.
Ellison's wealth surge amid AI and cloud boom
Oracle's market value jumped by $244 billion on Wednesday alone. The company reported $455 billion in bookings for its latest quarter, as well as a massive $300 billion deal with OpenAI.
Looking ahead, Oracle expects cloud revenue to climb from $10.3 billion this year to an ambitious $144 billion by 2030, signaling its growing influence in the AI space and potentially joining the exclusive $1 trillion club if its shares continue to climb.