Oracle's best week on the stock market since 2021 has bolstered Chairman Larry Ellison's net worth, briefly edging him past Amazon founder Jeff Bezos on Friday to become the world's second-richest person.
Ellison's net worth reached $208.4 billion shortly after the market open, then fell to $197 billion, according to Forbes' real-time billionaires list. Bezos, who has claimed the title of world's second-richest person on and off over the years, is worth $204 billion. Only Tesla CEO Elon Musk, at $252 billion, is currently above him.
Oracle shares closed up slightly at $162.03 on Friday after the database vendor bumped up its fiscal 2026 revenue guidance and issued a rosy forecast as far out as fiscal 2029. The company issued the forward-looking revenue figures at its annual CloudWorld conference in Las Vegas.
The stock rallied 11% on Tuesday after the company reported quarterly results that topped expectations. Oracle shares continue to reach new highs and are now up about 54% this year, behind only artificial intelligence chipmaker Nvidia — up 141% — among large-cap tech stocks.
Ellison, who co-founded Oracle in 1977, has been the biggest beneficiary of the boom. He owns about 40% of the outstanding stock, making him the company's biggest stakeholder. His company's revival in recent years has been sparked by its improving position in cloud infrastructure and growing adoption of its cloud databases.
Bezos, 60, and Ellison, 80, are jockeying for the title of world's second-richest person three days after their companies forged a new partnership. On Monday, Oracle said its database software will become available for AWS customers to use atop Oracle hardware sitting inside of Amazon data centers.
Over the past year, Oracle has also forged similar partnerships with Microsoft and Google, the other two leading cloud infrastructure companies. Ellison told analysts on this week's earnings call that Oracle is now in prime position in the cloud and in traditional data centers.
"With Oracle Database to be able to run AWS, Microsoft and Google, is incredibly important," Ellison said on the call. "It will absolutely accelerate database growth in the public cloud. But we expect that private clouds will greatly outnumber public clouds as companies decide they don't want — they want the Oracle Cloud behind their firewall, in their datacenter, with no neighbors."
— CNBC's Jordan Novet and Ari Levy contributed reporting.
