Friend of Elon Musk overtakes Jeff Bezos and Mark Zuckerberg

Oracle co-founder Larry Ellison has become the second richest person in the world, surpassing Jeff Bezos and Mark Zuckerberg, following a major surge in Oracle’s stock. The company’s shares jumped 13% on June 12 and another 7% on June 13, reaching a record high of $215 per share. This surge boosted Ellison’s net worth by over $40 billion, bringing his total to $254.6 billion, according to Forbes. Only Elon Musk, Ellison’s longtime friend, is currently wealthier, with a fortune of $412.9 billion.

The spike in Oracle’s stock came after the company released an earnings report on June 11 that exceeded expectations. CEO Safra Catz predicted even stronger performance ahead, projecting total cloud growth to rise from 24% in FY25 to over 40% in FY26. Cloud infrastructure alone is expected to grow by more than 70%. Ellison also noted a 115% increase in MultiCloud database revenue across Amazon, Google, and Azure, with 47 more MultiCloud data centers under construction. Oracle’s rapid cloud growth and rising demand have fueled investor confidence, driving the company’s value—and Ellison’s wealth—sky-high.