Oracle shares surged nearly 8 percent on Monday as investors doubled down on a powerful Wall Street wager that the artificial intelligence boom will require vast amounts of cloud capacity and computing power.
The tech stock rally added USD21.4 billion to Larry Ellison’s fortune in a single day, propelling the Oracle co-founder to third place on the Bloomberg Billionaires Index.
The jump in Oracle’s value lifted Ellison’s net worth to an estimated USD302 billion, enough to overtake Amazon founder Jeff Bezos and Google co-founder Sergey Brin.
More remarkably, it elevated Ellison’s personal fortune to a level comparable to the annual gross domestic product of a small nation, underscoring how the AI frenzy is generating wealth on a scale once associated with sovereign economies rather than individual investors.
Only Google co-founder Larry Page, with an estimated fortune of USD319 billion, stands ahead of Ellison among technology billionaires.
Even so, the combined wealth of Page and Ellison, totaling roughly USD621 billion, still falls short of the estimated USD721 billion fortune of Elon Musk, the chief of Tesla and SpaceX, and former adviser to US President Donald Trump.
The pace of Ellison’s rise is nearly as astonishing as the size of his fortune. Just two months ago, he had slipped to sixth place on Bloomberg’s billionaires list with a net worth of about USD195 billion. A sharp rebound in Oracle shares since late May has added more than USD100 billion to his wealth and dramatically reshuffled the billionaire leaderboard.
The market’s logic is straightforward. If artificial intelligence is the modern gold rush, Oracle is pitching itself as a supplier of the picks, shovels and heavy machinery. While rivals chase consumer-facing AI products, Oracle has increasingly focused on providing the computing infrastructure needed to train and run advanced AI models.
Investor are now buying the story. Oracle’s soaring valuation has become more than a measure of corporate performance. It is increasingly a barometer of Wall Street’s conviction that the AI boom is only beginning.
