"Oracle's stock price has doubled over the past two years, pushing the company's market value to around $650 billion. "According to The Wall Street Journal, Oracle's stock has skyrocketed due to the AI boom. A lot of that growth has been concentrated in recent gains.""
"Ellison's net worth is now $251.2 billion, higher than Zuckerberg's $251 billion but less than Elon Musk's $358 billion. "For the first time, Ellison has overtaken Meta CEO Mark Zuckerberg on the Bloomberg Billionaires Index to claim the No. 2 spot.""
Larry Ellison has surpassed Mark Zuckerberg to become the world's second-wealthiest person with a net worth of $251.2 billion. Oracle has experienced substantial growth attributed to increased demand for AI computing through its cloud services. The company's stock has surged more than 90% since late April, resulting in a market valuation of around $650 billion. Oracle's latest earnings report revealed an 11% rise in quarterly revenues, driven by a 14% increase in cloud services. CEO Safra Catz anticipates even higher revenue growth moving forward as the cloud business expands.
Read at Entrepreneur
Unable to calculate read time
Collection
[
|
...
]