Larry Ellison Gains $26 Billion in a Single Day, Becoming the World’s Second Richest Person

Larry Ellison, founder of Oracle, surpassed Amazon CEO Jeff Bezos and Meta CEO Mark Zuckerberg with a daily gain of $26 billion, becoming the world’s second-richest person.

This significant increase in his wealth came after Oracle released its quarterly earnings report that exceeded Wall Street expectations. The company posted adjusted earnings of $1.70 per share on revenue of $15.9 billion.

Ellison saw his net worth surge to an unprecedented $26 billion on June 12, following a sharp rise in Oracle shares. This historic one-day rise propelled the billionaire to second place on the Forbes list, ahead of Jeff Bezos ($228 billion) and Mark Zuckerberg ($239 billion). Ellison’s net worth now stands at $243 billion, trailing only Elon Musk, who tops the list with a fortune of $407 billion. Oracle’s stock surge came after the company released its quarterly earnings report that beat Wall Street expectations. The company posted adjusted earnings of $1.70 per share on revenue of $15.9 billion. Initially, Oracle’s stock fell 13% following the announcement, but investor confidence quickly recovered, pushing the stock to a record closing price of $200. This surge reflects growing investor confidence in Oracle’s long-term prospects, particularly in the field of artificial intelligence.