Oracle-boss Larry Ellision tops Elon Musk as world's richest man; stock zooms 36% in a day
Shares of Oracle Corp saw a jaw-dropping rise of 43 per cent on Wednesday and finally settled at $328.33, posting 36 per cent gains for the day.
- Sep 11, 2025,
- Updated Sep 11, 2025 9:08 AM IST
Shares of Oracle Corp saw a jaw-dropping rise of 43 per cent on Wednesday and finally settled at $328.33, posting 36 per cent gains for the day. It is the biggest single-day percentage jump since 1992. The stellar intraday rise has added a whopping $101 billion in Larry Ellison's wealth, who is now the richest man in the world, piping Tesla's Elon Musk.
Nasdaq listed Oracle Corp unveiled four multi-billion-dollar contracts on Tuesday, amid an industry-wide shift, led by companies such as OpenAI and xAI, to aggressively spend to secure the massive computing capacity needed to stay ahead in the AI race. Shares of the company have witnessed a massive 50 per cent rally in just five sessions and turned mulitbagger within 6 months.
According to a Reuters report on Wednesday citing the Wall Street Journal, OpenAI has signed a contract to purchase $300 billion in computing power from Oracle over roughly five years, marking one of the biggest cloud contracts ever signed. A majority of the new revenue Oracle described on Tuesday will come from the OpenAI deal, the report said.
Currently, Microsoft, Amazon Web Services and Google Cloud dominate the cloud computing market with a combined 65 per cent share, while Oracle, Alibaba, CoreWeave and others hold a smaller slice of the market. Oracle's first-quarter results lifted shares of Nvidia, Broadcom and Advanced Micro Devices, which supply semiconductors used in data centers.
The robust rally in the stock pushed the 81-year-old Larry Ellison to the numero-uno spot in the global billionaires with a wealth of $393 billion, according to the Bloomberg Billionaires Index. Ellison, who is Chief Technology Officer and executive chairman, owns 41 per cent stake in the Oracle Corp. Elon Musk has moved to the second spot with $385 billion wealth.
On the other hand, Oracle is just shy-off joining the elite $1 trillion-dollar mcap club along with Nvidia, Microsoft, Apple, Google, Amazon, Meta, Broadcom, Tesla, Berkshire Hathaway. Its total market capitalization stood at $922.2 billion dollars of its previous close.
The Indian entity, Oracle Financial Services Software, surged more than 10 per cent to settle at Rs 9268.15 on Thursday. Promoter Oracle Global Mauritius, a subsidiary of the multinational technology company Oracle Corp, owns 72.56 per cent stake in the Rs 80,000 crore Indian company.
Shares of Oracle Corp saw a jaw-dropping rise of 43 per cent on Wednesday and finally settled at $328.33, posting 36 per cent gains for the day. It is the biggest single-day percentage jump since 1992. The stellar intraday rise has added a whopping $101 billion in Larry Ellison's wealth, who is now the richest man in the world, piping Tesla's Elon Musk.
Nasdaq listed Oracle Corp unveiled four multi-billion-dollar contracts on Tuesday, amid an industry-wide shift, led by companies such as OpenAI and xAI, to aggressively spend to secure the massive computing capacity needed to stay ahead in the AI race. Shares of the company have witnessed a massive 50 per cent rally in just five sessions and turned mulitbagger within 6 months.
According to a Reuters report on Wednesday citing the Wall Street Journal, OpenAI has signed a contract to purchase $300 billion in computing power from Oracle over roughly five years, marking one of the biggest cloud contracts ever signed. A majority of the new revenue Oracle described on Tuesday will come from the OpenAI deal, the report said.
Currently, Microsoft, Amazon Web Services and Google Cloud dominate the cloud computing market with a combined 65 per cent share, while Oracle, Alibaba, CoreWeave and others hold a smaller slice of the market. Oracle's first-quarter results lifted shares of Nvidia, Broadcom and Advanced Micro Devices, which supply semiconductors used in data centers.
The robust rally in the stock pushed the 81-year-old Larry Ellison to the numero-uno spot in the global billionaires with a wealth of $393 billion, according to the Bloomberg Billionaires Index. Ellison, who is Chief Technology Officer and executive chairman, owns 41 per cent stake in the Oracle Corp. Elon Musk has moved to the second spot with $385 billion wealth.
On the other hand, Oracle is just shy-off joining the elite $1 trillion-dollar mcap club along with Nvidia, Microsoft, Apple, Google, Amazon, Meta, Broadcom, Tesla, Berkshire Hathaway. Its total market capitalization stood at $922.2 billion dollars of its previous close.
The Indian entity, Oracle Financial Services Software, surged more than 10 per cent to settle at Rs 9268.15 on Thursday. Promoter Oracle Global Mauritius, a subsidiary of the multinational technology company Oracle Corp, owns 72.56 per cent stake in the Rs 80,000 crore Indian company.