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News

Larry Ellison Becomes World’s Second-Richest Man

On Monday, September 16, the value of Oracle shares continued their growth trajectory, increasing by more than 6%, against which the chairman of this company, which is a software developer and server hardware supplier, Larry Ellison became the second richest person in the world, displacing Amazon founder Jeff Bezos in the appropriate position.

Larry Ellison Becomes World’s Second-Richest Man

After the close of trading last Friday, September 13, Mr. Ellison’s net worth increased by $11.7 billion. Currently, the corresponding figure is $209 billion.

At the same time, the wealth of Jeff Bezos, who was the second richest person in the world since 2016, is estimated at $202 billion. The corresponding rating is headed by Elon Musk, founder of SpaceX, PayPal, Neuralink, xAI, The Boring Company, and chief executive officer of Tesla. Currently, his wealth is estimated at $251 billion.

Oracle securities found themselves on a trajectory of intense price appreciation after this company last week released earnings data that significantly exceeded preliminary expectations. The firm’s revenue for the first quarter of fiscal year 2025 was fixed at $13.31 billion. This indicator showed an increase of 8% year-on-year. At the same time, the LSEG consensus forecast provided that the company’s revenue for the first quarter of fiscal year 2025 would be fixed at $13.23 billion.

Oracle’s net income for the mentioned period amounted to $2.93 billion. A year earlier, the corresponding figure was fixed at $2.42 billion.

Oracle’s revenue forecast for fiscal year 2026 also had an impact on the mentioned dynamic. The company expects that this figure for the specified period will reach at least $66 billion. The LSEG consensus forecast provided that Oracle’s revenue for the 2026 fiscal year would be $64.5 billion.

On Friday, Larry Ellison surpassed Jeff Bezos in the ranking of the richest persons in the world amid a sharp rise in the value of stocks. Then the founder of Amazon returned to his previous position, but, as it turned out, not for long. It is worth noting that the value of stocks is what can be called a dynamic indicator, which is characterized by frequent changes.

Oracle securities have risen in price by 23% for the month. So far, this is the best month for the company since October 2022. At that time, the value of Oracle shares showed an increase of 28%. It is worth noting that as of today, the dynamic of October 2022 and the present rising equities are the best periods in the last approximately 20 years in terms of the mentioned indicator.

Oracle’s positive results in the market are largely related to the participation of this company in the process of the development of artificial intelligence, which is actually the main technology of modernity.

Last week, Larry Ellison, during an earnings call, spoke about the firm’s active involvement in the process of building data centers. It is worth noting that the demand for relevant functional facilities has increased dramatically recently. This dynamic is because data processing centers are necessary to ensure the functioning of artificial intelligence systems. At the same time, the AI industry is expanding. This means that the demand for data centers is likely to remain in the short and medium term.

Larry Ellison says that his company is literally building the smallest, most portable, most affordable cloud data centers all the way up to 200-megawatt data centers, ideal for training very large language models and keeping them up-to-date.

Also last week, Oracle announced a collaboration with the unit of Amazon, which specializes in cloud computing. In this case, Amazon Web Services (AWS) is meant. Oracle noted that for it, this partnership means the opportunity to ensure the operation of its database services on dedicated hardware. Also, over the past year, the company has formed a similar collaboration with Microsoft and Google, other major players in the cloud infrastructure area.

Moreover, last week Oracle announced the first zettascale cloud computing clusters accelerated by the Nvidia Blackwell platform. At that time, it also became known that Oracle Cloud Infrastructure (OCI) was taking orders for the largest artificial intelligence supercomputer in the cloud. This supercomputer is equipped with more than 130 thousand graphics Blackwell processing units. Mahesh Thiagarajan, executive vice president, of Oracle Cloud Infrastructure, stated that the company has one of the broadest offerings for artificial intelligence infrastructure. Also, in this context, it was noted that Oracle’s distributed cloud provides customers with the opportunity to deploy cloud and machine intelligence services at their discretion.

The mentioned supercomputer is delivering an unprecedented 2.4 zettaFLOPS of peak performance. The maximum scale of the OCI Supercluster offers more than three times as many graphics processing units as the Frontier supercomputer and more than six times that of other hyperscalers. Supercluster includes OCI Compute Bare Metal, ultra-low latency RoCEv2 with ConnectX-7 NICs and ConnectX-8 SuperNICs or Nvidia Quantum-2 InfiniBand-based networks, and a choice of HPC storage.

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.