Larry Ellison’s Fortune Passes Brin and Ballmer as AI Boosts Oracle

Oracle co-founder is now seventh-richest person in the world
Company is focused on expanding cloud unit to meet AI demand

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By Vernal Galpotthawela

June 12, 2024 at 8:38 PM UTC

This article is for subscribers only.

Larry Ellison passed Sergey Brin and Steve Ballmer to become the seventh-richest person in the world Wednesday after Oracle Corp. reported “enormous” AI-related demand for its cloud infrastructure, sending shares to a record high.

Ellison’s fortune, roughly three-quarters of which is derived from Oracle, jumped $14 billion to $152 billion, according to the Bloomberg Billionaires Index. That’s his biggest one-day increase ever and pushes him ahead of both Google co-founder Brin and former Microsoft Corp. Chief Executive Officer Ballmer for the first time since December.