Oracle shares rallied to a record high on Thursday, moving co-founder Larry Ellison ahead of two other tech multi-billionaires for the spot of the world’s second-richest person.
According to Forbes’ billionaire index, Ellison’s gain of at least $26 billion from Thursday’s rally moved him past Amazon (AMZN) founder Jeff Bezos and Meta Platforms (META) CEO Mark Zuckerberg, putting his net worth at $243 billion.
Zuckerberg is worth roughly $239 billion, surpassing Bezos, who stands at $227 billion, according to Forbes. None of the three founders come close to Tesla (TSLA) CEO Elon Musk’s net worth above $400 billion.
The estimated net worth of all four men depends to varying degrees on the stock prices of their respective companies, depending on how much of the company they still own. Ellison owns 41% of Oracle (ORCL), according to Forbes, and is still its chief technology officer and board chair, but stepped away from the chief executive officer role in 2014.
Oracle shares rose Thursday after the company’s fiscal fourth-quarter results topped estimates after the bell Wednesday. Analysts cheered the latest results, with several lifting their price targets for Oracle stock after hearing the company’s “stunning” growth projections.
Oracle shares closed 13% higher, earlier hitting a record high of above $202.
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