Insider no more: Ellison sat on Tesla’s board for 4 years and now overtakes Musk to become the world’s richest person

Oracle co-founder and chairman Larry Ellison, whose net worth is largely derived from his 41 per cent stake in Oracle, saw his fortune rise by about $102 billion to around $395 billion, according to Forbes. The 81-year-old billionaire is now edging past Elon Musk in the race for the title of the world's richest person. Ellison, who willingly step aside from the CEO position in Oracle in 2014 after spending over three decades at the top level of the company, was once a part of Elon Musk-owned Tesla board.

Yes, you have read it right. Ellison was part of on Tesla's board from 2018 to 2022. The billionaire owned 45 million split-adjusted shares. However, the Oracle boss chose to step down as a director, as per a report on Forbes. Ellison also have 50 per cent stakes in Paramount Skydance.

Oracle Racing Towards Elite Trillion-Dollar Club


Oracle's shares have risen 45 per cent so far this year, outperforming the so-called Magnificent Seven stocks and the broader S&P 500 index, with investors betting big on AI-driven cloud firms. The company will add about $299 billion to its market valuation, taking the total valuation to around $969 billion, if gains hold, and bringing Oracle closer to the coveted $1 trillion-dollar club.

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 stock is trading at over 33.34 times its 12-month forward earnings estimates, compared with Amazon's 32.34 and Microsoft's 30.83.

Analysts flagged Oracle's role in SoftBank and OpenAI's Stargate project as another tailwind, giving the company a foothold in the large-scale AI infrastructure project that is expected to channel about $500 billion in spending. The company also supplies cloud services to xAI, the AI startup founded by Musk, a longtime ally of Ellison.

FAQs

Q1. How have Oracle stocks performed?
A1. Oracle's shares have risen 45 per cent so far this year, outperforming the so-called Magnificent Seven stocks and the broader S&P 500 index, with investors betting big on AI-driven cloud firms.

Q2. What is Oracle market valuation?
A2. Oracle will add about $299 billion to its market valuation, taking the total valuation to around $969 billion, if gains hold, and bringing Oracle closer to the coveted $1 trillion-dollar club.